KUWAIT: A specialized economic report stated that the liquidity of Boursa Kuwait rose in 2024 by 42.8 percent to reach about KD 14.833 billion (about $45.240 billion), compared to about KD 10.386 billion (about $31.677 billion) in 2023. The report by Al-Shall Consulting, issued on Saturday, said that the stock turnover rate of companies listed on the stock exchange rose from 25.7 percent in 2023 to about 33.7 percent in 2024.

It indicated that the daily average trading value rose by about 39.4 percent, reaching about KD 59.8 million (about $182.3 million), compared to about KD 42.9 million (about $130.8 million) for the average year 2023. The report pointed out that the general index of the Boursa Kuwait recorded a positive performance at the end of 2024 compared to its level at the end of 2023, as it reached 7,362.5 points, an increase of about 545.3 points or 8.0 percent compared to 6,817.3 points. It added that “the highest reading of the index during 2024 was achieved on March 13 when it reached 7,473.6 points, and its lowest reading was recorded on April 17 when it reached 6,910.1 points.”

The report stated that the capital value of the listed companies at the end of the year amounted to about KD 43.5 billion (about $132.6 billion), and when comparing its value with the end of 2023, it is noted that it achieved an increase of about KD 3.2 billion (about $9.7 billion) or about 8.0 percent. It explained that the number of companies whose market value increased reached 112 companies, while 30 companies recorded varying declines, while the value of one company did not change.

The report said that the largest absolute increase in value was for the banking sector by about KD 2.19 billion (about $6.6 billion), followed by the financial services sector with an increase of about KD 1.18 billion (about $3.5 billion), while the value of the industrial sector recorded the largest decrease of about KD 613.9 million (about $1.8 billion). The banking sector is still the dominant sector with its contribution to the value of stock exchange companies by about 61.1 percent and its liquidity amounting to about 32.9 percent of the total liquidity of the stock exchange.

The financial services sector also reaped about 11.3 percent of the capital value of the stock exchange and about 30.1 percent of its liquidity, meaning that its contribution to liquidity is 2.7 times its contribution to capital value, which means that it recorded a significant increase in its liquidity level. He added that the telecommunications sector was the third largest contributor by about 7.1 percent of the value of stock exchange companies and acquired about 3.4 percent of its liquidity. The report pointed out that the number of profitable companies amounted to about 113 companies out of 138 companies announced their financial statements, where the profitable companies achieved about KD 2.16 billion (about $6.5 billion), from which about KD 41.9 million (about $127.7 million) were deducted, representing the share of losses for 25 companies. He added that the banking sector contributed about 58.6 percent of the absolute profits of the stock exchange, followed by the financial services sector with about 11.5 percent of the profits, while 11 sectors out of 13 active sectors participated in the rest or 29.9 percent of those absolute profits.

The Boursa Kuwait has contributed to advancing the process of communication, growth and innovation in the stock market, in addition to providing support to the Capital Markets Authority, issuers, investors and all other concerned parties. It also plays a pivotal role in developing the Kuwaiti financial market and diversifying the national economy in line with the goals of the New Kuwait Vision 2035. — KUNA