AlWaseet Financial Services Company led the ranking of brokerage firms registered on the Boursa Kuwait since the beginning of the year, securing the top position among its peers for November.
According to the ranking released by the Boursa Kuwait regarding last month's performance based on trading value, excluding private transactions and mandatory purchase sessions, brokerage firms were ranked as follows:
AlWaseet Financial Services, KFH Brokerage, Watani Financial Brokerage Company (WFBC), EFG Hermes IFA, Al Sharq Financial Brokerage, Kuwait Financial Brokerage Company, First Securities Brokerage Company (Oula Wasata) , CBK Brokerage, Middle East Financial Brokerage Company , and KFIC Brokerage.
Notably, the performance of Middle East Financial Brokerage and Kuwaiti Financial Brokerage Company improved in trading value compared to their performance in October.
The Boursa indicators showed positive trading compared to October, with an increase in the average daily trading value and positive performance across all Kuwait Stock Exchange price indices.
The Premier Market Index rose by approximately 1.2%, the Main Market Index increased by about 1.3%, while the Overall Market Index, which combines the performance of both markets, saw an increase of around 1.2%. Additionally, the Main Market 50 Index increased by about 1.1%.
However, the absolute liquidity of the stock exchange decreased in November compared to October, reaching approximately 1.603 billion KWD, down from 1.716 billion KWD, a decline of 6.6%. The average daily trading value for November, which is particularly significant, was about 80.1 million KWD, representing an increase of approximately 7.4% compared to the average for October, which was around 74.6 million KWD.
The Overall Market Index ranked second in performance among Gulf markets since the beginning of the year, following the Dubai Financial Market. On Sunday, the 24th, brokerage firms conducted an extensive new test for the market members' system to complete the remaining preparatory tests before the actual launch of the new market system related to qualified brokers, the central counterparty system, and sub-accounts, in addition to other tests related to index and bond funds.
The results of the recent test were satisfactory for the majority of participating entities, including brokerage firms, banks, and custodians.
It is worth noting that all companies passed 28 preliminary tests in the past period, although some observations were made regarding the performance of certain participating banks and brokerage firms, and these will be addressed to avoid them in future tests.