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The Market Closed At 47.3 Billion Dinars For The First Time Since The Global Financial Crisis In 2008
The market value of the Kuwait Stock Exchange's listed shares increased by 430 million dinars yesterday, boosted by activity in the leading shares, led by a number of banks whose shares are presently trading at historical levels.
According to a local Arabic daily, the stock exchange increased the market value of all listed companies by 1.73 billion dinars over the last five sessions, bringing the overall market value to 5.34 billion dinars, up 12.7 percent from the end of last year.
For the first time since before the global financial crisis in 2008, the stock exchange closed yesterday at 47.3 billion dinars, as it was noted that the stock exchange benefited from the banking sector's momentum, led by the "KFH" share, which has risen the most since the beginning of 2022, achieving a 20 percent increase in its market price compared to closings. 2021.
The daily monitored gains of about 14 percent achieved by the shares of the listed bank's portfolio from the beginning of last January until yesterday's closings, calling on the activity of other banks such as "Al-Ahly" (15%), "Al-Watani" (14%), "Boubyan" (12.9%), "Al-Khaleej" (12.2%), and "Al-Ahly United of Bahrain (11.9%).
In light of the apparent activity of the shares of "Cables," "Investments," "KIPCO," "KFH," "Jazeera Airways," and "Boubyan Petrochemicals," among other leading stocks, the banks' gains enabled the realized price returns of the first market to reach 14 percent.
The stock exchange's general index, as well as the indices of the first and main markets, closed at an all-time high yesterday, reaching 7934.9 points, an increase of 72.67 points from the day before yesterday's session, thanks to clear support from the first market's activity, which gained 97.6 points to close at the highest level since the launch of the division of markets and the current weighted indices in April 2018, where the general index reached 7934.9 points, an increase of 72.
Premier Market is still seeing a quiet accumulation and buying of many operational shares in preparation for an expected share of the activity in the coming period, knowing that portfolios and funds are trying to keep up with the returns available in the first market's shares and a small segment of the medium and small commodities traded in the "main," which closed yesterday only 17.7 points higher.
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