Reflecting ongoing geopolitical tensions, the Qatar Stock Exchange (QSE) continued its downward trend for the second consecutive session on Thursday, with the key 20-stock Qatar Index losing 0.26% to close at 11,355.36 points. The index briefly touched an intraday high of 11,386 points but could not sustain gains as selling pressure mounted.
Local retail investors were prominent net profit takers, contributing to the market’s bearish tone. The main sectors under pressure included insurance, real estate, consumer goods, and banking, which saw higher-than-average declines. Year-to-date gains for the market were trimmed to 5.51%, highlighting a cautious investor sentiment.
Arab individual investors appeared increasingly pessimistic, with the main market’s capitalisation falling QR1.67 billion, or 0.25%, to QR679.8 billion, primarily driven by activity in small and microcap segments. Foreign retail investors also turned net sellers, adding to the downward momentum, while trade turnover and volumes in the main market declined.
Arab institutions continued to take profits, although at lower levels, with as many as 215 exchange-traded funds sponsored by Al Rayan Bank, valued at QR502, trading in a single deal. Reduced net buying by Gulf funds and foreign institutions influenced the market, coinciding with no trading activity in sovereign bonds or treasury bills.
Among the major indices, the Total Return Index fell 0.26%, the All Share Index declined 0.29%, and the All Islamic Index dropped 0.36%. Sector-wise, the insurance index experienced the largest loss, down 1.61%, followed by real estate at 0.57%, consumer goods and services at 0.56%, banks and financial services at 0.43%, telecom at 0.14%, and industrials at 0.08%. Transport was the only sector to post gains, rising 0.99%.
Top decliners included Qatar Insurance, Gulf Warehousing, Medicare Group, Inma Holding, Nebras Energy, QIIB, Gulf International Services, Qamco, Ezdan, and Mazaya Qatar. On the upside, Qatar National Cement, Nakilat, Estithmar Holding, Milaha, and Widam Food saw gains. In the venture market, Techno Q recorded a positive performance.
Trading patterns also reflected increased net selling by individuals. Qatari retail investors sold shares worth QR9.95 million, up from QR5.98 million the previous day. Arab retail investors’ net selling rose sharply to QR5.64 million from QR0.87 million, while foreign individuals turned net sellers to the tune of QR2.48 million, compared to net buying of QR0.58 million on Wednesday.
Reflecting the broader trends, the market’s cautious behavior signals that investors are closely monitoring both regional developments and sector-specific performances as uncertainty continues to influence trading activity.
