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Boursa Kuwait's indices fall in week; market cap sheds 4%

Boursa Kuwait's indices fall in week; market cap sheds 4%
Boursa Kuwait’s turnover shrank by 33.1% weekly

By: Mohamed Farouk

Mubasher: The Kuwaiti indices closed the week on a collective decline amid low trade and growing fears over the worldwide coronavirus outbreak.

The Premier Market registered the highest weekly drop among Kuwaiti indices by 4.51% or 238 points, closing at 5,043.2 points when compared to 5,281.2 points. 

The Main BK 50 Index fell by 4.18% or 171.55 points this week to settle at 3,932.56 points when compared to 4,104.11 points a week ago.

The Main Market sank by 2.66% or 110.2 points weekly, finishing at 4,032.18 points from 4,142.38 points.

The All-share Index closed the week at the level of 4,702.11 points as compared to 4,897.43 points, down by 3.99% or 195 points.

Liquidity 

By the end of the week, the market’s turnover shrank by 33.1% to stand at KWD 136.6 million from KWD 204.25 million a week earlier.

The trading volume amounted to 519.02 million shares, down by 36.4% weekly from 815.59 million.

Moreover, the number of concluded transactions totalled about 39,100 this week when compared to nearly 51,050, posting a 23.4% decline.  

Market Cap Value 

Boursa Kuwait’s market cap value lost KWD 1.115 billion ($3.57 billion) or 4% to KWD 26.79 billion ($85.67 billion) this week, compared with KWD 27.905 billion ($89.23 billion) in the previous week.

Since the beginning of 2020, the market cap value have slid by 24.8%, incurring losses of about KWD 8.85 billion ($28.3 billion), compared to KWD 35.63 billion ($113.96 billion) by 2019 year-end.