By: Mohamed Farouk

Mubasher: The Kuwaiti indices closed the week ended on 9 April on a collective decline amid low trade and the worldwide outbreak of the coronavirus (COVID-19).

The Premier Market Index recorded the highest weekly drop, among Kuwaiti indices, by 2.62% or 132.22 points, settling at 4,910.98 points this week when compared to 5,043.2 points a week ago.

The Main Market Index finished at 3,979.16 points when compared to 4,032.18 points, down by 1.31% or 53.02 points on a weekly basis.

Moreover, the BK 50 Index fell by 1.22% or 48.13 points by the end of this week, closing at 3,884.43 points, compared to 3,932.56 points.

The All-Share Market retreated by 2.25% and lost more than 105 points to settle at 4,596.32 points from 4,702.11 points.

Market Liquidity

Over the week, Boursa Kuwait’s turnover reached KWD 189.37 million from KWD 136.6 million, posting a 38.6% weekly rise.

In the meantime, the trading volume increased by 34% to stand at 695.57 million shares, compared with 519.02 million.

The number of concluded transactions grew by 24.2% to about 48,570 when compared to around 39,100.

Market cap value

Boursa Kuwait’s market cap value amounted to KWD 26.18 billion ($84.37 billion) this week, compared to KWD 26.79 billion ($86.32 billion) last week.

Market cap losses registered KWD 603 million ($1.94 billion) during the week, down by 2.25% weekly.

Since the beginning of 2020, the market cap value has slid by 26.5%, with losses of around KWD 9.45 billion ($30.45 billion) from KWD 35.63 billion ($114.82 billion) at the end of 2019.