The Qatar Stock Exchange (QSE) closed slightly higher despite concerns over a possible US recession. Gains in transport and real estate stocks helped push the market upward, even as investors showed mixed sentiment.
The Qatar Index edged up 0.06%, adding six points to close at 10,531.81 points. The index rebounded after falling to an intraday low of 10,475 points. However, the year-to-date performance remains negative, with the market down 0.37% in 2024.
Local institutional investors increased their net buying activity, helping the market stabilize. However, foreign funds took profits, leading to some selling pressure. The overall market capitalization rose QR0.32bn to reach QR616.97bn, mainly due to gains in microcap stocks.
Meanwhile, Arab institutional investors increased their net selling, while local retail investors turned bearish. The market also saw trading in exchange-traded funds (ETFs), with 2,951 units changing hands in eight deals, valued at QR0.03mn.
The Total Return Index increased 0.06%, and the All Share Index gained 0.07%, while the All Islamic Index declined 0.14%.
Among the gaining sectors:
• Transport rose 0.55%
• Real estate gained 0.12%
• Industrials added 0.05%
• Banks and financial services increased 0.03%
On the other hand, telecom, insurance, and consumer goods sectors posted slight losses.
Stocks that performed well included Nakilat, Alijarah Holding, Qatar Oman Investment, Al Mahhar Holding, Zad Holding, and Barwa.
However, nearly 59% of traded stocks closed in the red. Among the major decliners were Qatar Industrial Manufacturing, Dukhan Bank, Inma Holding, Dlala, Qamco, Al Faleh Educational Holding, Ezdan, Vodafone Qatar, Milaha, and Gulf Warehousing.
• Domestic institutions increased net buying significantly, reaching QR56.89mn, up from QR1.26mn in the previous session.
• Arab individual investors reduced their selling pressure, booking QR3.21mn in profits, compared to QR5.1mn earlier.
• Foreign institutions turned into net sellers, offloading QR21.39mn after being net buyers the previous day.
• Gulf institutions also increased net profit booking, selling QR19.3mn, up from QR4.34mn.
• Local retail investors became net sellers, offloading QR13.59mn, reversing their previous day’s buying trend.
• Gulf individual investors slightly increased selling to QR1.06mn from QR0.8mn.
• Foreign retail investors maintained a small net buying position at QR1.65mn.
The main market saw an 8% decline in trading volume, with 121.77mn shares traded. However, trade value increased 21% to QR390.3mn, and the number of deals surged 70% to 15,244 transactions.
The venture market recorded a sharp increase in activity:
• Trading volume rose more than 43-fold to 0.22mn shares
• Trade value jumped 48 times to QR0.62mn
• The number of deals increased 48 times to 48 transactions.
