Revealed: Top 10 companies in Kuwait in 2016

The liquidity crunch in the Kuwaiti exchange has continued in 2016, as investors of some major portfolios abstained from trading for most of the year.

Market liquidity in the country is lower compared to major GCC economies such as Saudi Arabia and the UAE and continues to be an impeding factor on the growth of the capital market in the country.

Poor coverage of Kuwaiti stocks by analysts is another impeding factor for liquidity apart from the series of delistings (24 companies) after 2015.

Kuwait witnessed a decline of 6 per cent in net earnings in the first half of 2016, with commodities, real estate and financial services declining by 11 per cent, 23 per cent and 53 per cent respectively.

The banking and telecoms sectors bucked the declining trend. Financial services saw the highest decline in Kuwait due to declining oil prices and GDP growth.

TOP 10 COMPANIES IN KUWAIT

(By market capitalisation as of October 9, 2016. Source: Reuters Eikon, Markaz Research)

1. National Bank of Kuwait

Market capitalisation: $11.02bn
Sector: Banking & Investment Services

2. Kuwait Finance House

Market capitalisation: $8.08bn
Sector: Banking & Investment Services

3. Mobile Telecommunications Company (Zain)

Market capitalisation: $4.8bn
Sector: Telecommunications Services

4. Kuwait Food Co

Market capitalisation: $3.41bn
Sector: Cyclical Consumer Services

5. Boubyan Bank

Market capitalisation: $2.73bn
Sector: Banking & Investment Services

6. Kuwait Projects Company Holding

Market capitalisation: $2.64bn
Sector: Banking & Investment Services

7. Mabanee Company

Market capitalisation: $2.37bn
Sector: Real Estate

8. Gulf Bank

Market capitalisation: $2.32bn
Sector: Banking & Investment Services

9. Ahli United Bank

Market capitalisation: $2.21bn
Sector: Banking & Investment Services

10. Burgan Bank

Market capitalisation: $2.17bn
Sector: Banking & Investment Services

Also read: Revealed: Top 10 companies in the UAE in 2016

Revealed: Top 10 companies in Saudi Arabia in 2016

Revealed: Top 10 companies in Qatar in 2016