The Qatar Stock Exchange (QSE) continued its bullish momentum for the second consecutive session, buoyed by anticipation ahead of key economic data releases from the United States and China. The market’s 20-stock Qatar Index rose by more than 16 points, closing at 10,098.52, marking a 0.16% increase. This uptick followed an intraday low of 10,054 points, reflecting a resilient recovery.
The day’s trading saw local retail investors playing a significant role as net buyers, contributing to the market’s positive performance. The broader market’s year-to-date losses were reduced to 6.8%, signaling a gradual recovery. Arab individual investors also increased their net buying activity, further supporting the market’s gains.
Gulf institutions exhibited bullish sentiment, albeit at lower levels, which helped the QSE’s overall capitalization rise by 0.29% to QR583.44bn. This increase was primarily driven by gains in small-cap segments. Additionally, Arab funds turned net buyers, adding further support to the main market.
Exchange-traded funds (ETFs) sponsored by Masraf Al Rayan and Doha Bank saw activity, with 4,737 units valued at QR0.04mn traded across four deals. The reduced net profit booking by foreign institutions also played a role in stabilizing the main bourse, which saw no trading in treasury bills.
The lower net selling by Gulf retail investors contributed to the positive sentiment in the main market, which also experienced no trading in sovereign bonds. The Islamic index, however, saw slower gains compared to other indices within the main bourse. Despite this, trade turnover grew, even though trading volumes decreased.
The QSE’s Total Return Index increased by 0.28%, the All Islamic Index by 0.04%, and the All Share Index by 0.32%. The insurance sector index was the standout performer, shooting up by 1.72%, followed by gains in banks and financial services (0.59%), consumer goods and services (0.34%), and industrials (0.26%). However, the transport, real estate, and telecom sectors experienced declines of 0.67%, 0.66%, and 0.64%, respectively.
Notable gainers in the main bourse included QIIB, Qatar Insurance, QLM, Dukhan Bank, Mannai Corporation, and Doha Insurance. In the venture market, Techno Q saw its shares appreciate in value. On the other hand, 66% of the traded constituents ended in the red, with Qatar National Cement, Woqod, Vodafone Qatar, Inma Holding, Qatar Oman Investment, Qamco, and Barwa among the major losers. In the junior bourse, Al Mahhar Holding saw its shares depreciate in value.
Trading volumes in the main market fell by 16% to 99.48 million shares, while the value of trades increased by 15% to QR254.99 million. The number of transactions surged by 43% to 12,069, indicating a robust trading day. The venture market also saw a significant increase in activity, with trade volumes more than quadrupling to 2.02 million equities and the value of trades quadrupling to QR4.4 million.
