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Boursa Kuwait down for 6th week in row

Boursa Kuwait down for 6th week in row
The market's liquidity hiked by 38.4% on a weekly basis

By: Mohamed Farouk

Mubasher: Boursa Kuwait ended Thursday’s trading in the green territory, narrowing the losses it incurred over the week.

The Premier Market index soared by 5.1%, while the BK 50, Main, and All-Share indices grew by 0.72%, 0.44%, and 3.7%, respectively.  

The turnover recorded KWD 93.13 million on Thursday where 325.8 million shares were traded through 16,621 transactions.

Weekly Performance

The Kuwaiti indices continued their downward performance for the sixth consecutive week amid significantly higher trade volume when compared to the previous week as the number of trading sessions was reduced to four instead of five. 

The Premier Market index plummeted by 6.55% or 343.73 points this week t0 4,902.42 points, compared to 5,246.15 points a week ago.

Moreover, the BK 50 Index, slumped by 6.31% or 267.87 points on a weekly basis to 3,974.3 points from 4,242.17 points.

The Main Market closed the week at 4,031.72 points, down by 4.79% to 202.68 points from 4,234.4 points a week earlier.

Furthermore, the All-Share Index slid by 4.68% or 284 points this week at 5,788.04 points, compared to 6,072.05 points.

Meanwhile, the market's liquidity hiked by 38.4% on a weekly basis to stand at KWD 271.86 million from KWD 196.42 million. Weekly trading volume amounted to 1.05 billion shares, 27% higher than 823.78 million.

The number of concluded transactions totalled 65,660 this week as compared to 84,970, posting a 34.1% weekly rise.

Market Cap Value

By the end of the week, Boursa Kuwait’s market cap value registered KWD 26.259 billion ($84.88 billion), compared to KWD 27.95 billion ($90.35 billion) in the past week.

Additionally, the bourse suffered KWD 1.6 billion ($5.47 billion) worth of market losses, down by 6% on a weekly basis.

On an annual basis, the market cap retreated by 26.3% year-to-date (YTD), recording losses of KWD 9.3 billion ($30.32 billion), compared with KWD 35.6 billion by the end of 2019.

Translated by: Amal A. Wahaab