(MENAFN) The Kuwait Stock Exchange kicked off its daily session on a strong note, reflecting investor optimism following the Emir of Kuwait's decision to dissolve the National Assembly and suspend certain articles of the constitution. The Premier Market Index, indicating the performance of the top companies, surged by an impressive 2.23 percent at the opening bell, reaching 7888.5 points. However, as the trading day progressed, the index
experienced a slight downturn, closing at 7846.39 points, still marking a substantial increase of 1.68 percent. Trading activities in this segment amounted to approximately 84.6 million Kuwaiti dinars, with about 210.5 million shares changing hands.
Meanwhile, the general market index
also witnessed a notable uptick, rising by 1.39 percent to reach 7,179.45 points. This positive momentum across both market indices
underscored investor confidence in the wake of the Emir's decision, which came amidst escalating tensions and concerns over potential political unrest in Kuwait. The Emir's statement cited behaviors conflicting with constitutional principles and attempts to encroach upon his executive authority as the primary reasons behind the dissolution of the National Assembly and the suspension of constitutional articles.
In summary, the Kuwait Stock Exchange's buoyant performance on the trading floor reflects market participants' initial response to the Emir's decisive actions aimed at restoring stability and upholding constitutional order in the face of mounting political challenges.
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