Kuwait – the stock exchange is green, trust in the new...

• 3.06% primary market gains .. 1.8% for the main market, and 2.7% for the general index

Sherif Hamdy
The Kuwait Stock Exchange received the first session of the new era when His Highness Prince Sheikh Nawaf Al-Ahmad assumed the reins of government in the country to succeed His Highness the late Sheikh Sabah Al-Ahmad, with great gains at the level of indicators and variables, the most important of which was the market value, which rose by 2.7%, with gains of 865 million dinars, to reach 32.47 billion dinars, up From 31.61 billion dinars last Tuesday.
Market indicators achieved large collective gains, optimism for the next stage, and thus the stock market compensated for the losses it suffered in last Tuesday’s session, as many stocks were received on the stock exchange yesterday at the request of dealers to achieve large market gains.
The leading shares were the most targeted, especially banking stocks, after a number of banks confirmed the news, published in yesterday’s issue, about signing a joint credit facility agreement worth one billion dinars for the benefit of the Kuwait Petroleum Corporation, to finance its projects.
As a result of this announcement, the shares of “KFH and NBK” acquired 41% of the total market liquidity amounting to 72.4 million dinars, by 19.7 million dinars for “your house, which rose by 4.2% yesterday, and 10 million dinars per share”, which rose by 2.8% by the end of the session. yesterday.
In addition to the news of the bank financing agreement for the Petroleum Corporation, the prices of most shares were encouraging to buy after the remarkable decline in the session last Tuesday, as managers of portfolios and funds as well as individuals were keen to seize the shares that are expected to rise during the next stage, which was clear from the beginning of the session.
The shares of Aayan Leasing witnessed large transactions and received about 4.8 million dinars of liquidity and rose by 6.8%, after the Kuwait Stock Exchange traded again on the company’s shares following the announcement of information related to the company reaching agreements with a number of its creditors to make a final settlement.
At the level of liquidity flowing to the market yesterday, it witnessed a 30% decline, reaching 72.4 million dinars, down from 104 million dinars in the session last Tuesday, while the first market index achieved gains of 3.06% with gains of 184 points to reach 6205 points, and the main market index rose by 1.8% Adding 76 points to its gains, to reach 4,379 points, and the general market index rose by 2.7%, adding 149 points to reach 5,594 points.
The Stock Exchange had remarkable activity during the transactions of last September, due to the targeting of many leading stocks, so that the Stock Exchange achieved great market gains by the end of the month’s transactions that exceeded one billion dinars, as the market value at the end of the last session of the month reached 31.61 billion dinars, up from 30.59 billion dinars for the month It was preceded by a rise of 3.3%.
In this context, a number of economists expected that the market will witness a major boom in its trading during the coming period, in conjunction with the upcoming announcement by listed companies of their financial data for the third quarter of this year, which banks and companies will start to announce during the next period in succession, and in conjunction with The date of the market upgrade to the ranks of the emerging markets on the MSCI “MSCI” index is approaching, as foreign funds estimated at $ 2.8 billion are expected to enter the market.
Economists said to Al-Anbaa that the stability of the economic and political conditions in the country will reflect positively on the course of trading in the coming period, in order to witness a great momentum on the leading stocks, and then the high levels of trading in the market to record levels.

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