By: Mohamed Farouk

Mubasher: The market cap of Boursa Kuwait has registered losses up to KWD 580 million ($1.91 billion) from Sunday to Tuesday this week, in line with a continuous downward performance for the three indices.

By the end of Tuesday’s session, the indices of the All-Share, Main, and Premier markets retreated by 0.25%, 0.06%, and 0.32%, respectively.

The market cap shrank to KWD 34.86 billion ($114.84 billion) by the end of Tuesday, compared to KWD 35.44 billion ($116.75 billion) last Thursday, registering a decline of 1.6%.

Tuesday’s market cap is considered the lowest since 8 July 2019 when it reached KWD 24.73 billion.

The low market cap in the recent period is mainly affected by the continuous downward performance of both the trading value and volume, especially in the Premier Market, capital market analyst Badar Al Bader told Mubasher.

Year-to-date (YTD), Boursa Kuwait registered a gain of KWD 2.85 billion or 20.2% from KWD 29.01 billion by the end of 2018.

Blue chips in the banking sector, such as the National Bank of Kuwait (NBK) and Kuwait Finance House (KFH), have registered a state of profit-taking for funds and portfolios; this has impacted the index of the Premier Market and its liquidity, Al Bader further explained.