Kuwait: Boursa records losses despite dividend news

Kuwait: Boursa records losses despite dividend news

During past week’s transactions, the financial markets in Gulf Cooperation Council countries resulted in losses for five indices and gains for two. The fluctuations ranged from substantial to moderate, reports Al-Jarida daily. The Kuwait Stock Exchange indices also recorded losses, with the general market index losing 1.43%, reducing its gains for the year to 6.6%. Announcements of annual dividends by major including NBK, Boubyan, and KFH, had varying impacts on stock positions, with KFH and NBK experiencing losses. The gains of the Bahrain Financial Market reached 4.9% for the year, securing the second position after the Kuwaiti market. Additionally, the Dubai Financial Market Index saw a noteworthy growth of 1.57%, closing at 4,228.74 points, its highest level in almost two years. The gains for the year amounted to 4.1%, supported by positive annual results from companies, with 45% reporting significant growth, particularly in the banking sector. However, Qatar and Saudi Arabia faced losses exceeding 2%, with the Qatar Financial Market index dropping by 2.88% to close at 10,049.36 points. Global market indices’ performance and oil price fluctuations, coupled with limited profit growth among listed companies, contributed to the decline. Surprisingly, the Bahrain Financial Market index, with the smallest value weight