By: Mohamad Farouk

Mubasher: Boursa Kuwait has suffered losses of about KWD 410 million ($1.4 billion) in market cap by the end of Sunday, 14 October.

Market cap decreased by 1.5% to KWD 27.94 billion ($92.4 billion) on Sunday compared to KWD 28.35 billion ($93.7 billion) on Thursday.

Sunday’s market cap in Boursa Kuwait is considered the lowest since it totalled KWD 28 billion on 5 July 2018.

The low market cap in the recent time was impacted by the losses registered by the US stocks, capital market analyst Moustafa Al Jarhi told Mubasher.

The geopolitical and economic rift in the region have impacted Boursa Kuwait, which is considered one of the largest stock exchanges in the MENA region, the analyst added.

By the end of Sunday, the All-Share Market went down 1.45%, the Main Market retreated by 0.59%, and the Premier Market fell by 1.86%.

During the past ten sessions since the beginning of October, the market cap lost KWD 760 million when compared to KWD 28.7 billion in the end of September 2018.