Geopolitical tensions cast shadow on QSE as index loses 77 points; M-cap melts QR4.74bn

20/03/2025 20:58 AST

Rising geopolitical tensions on Wednesday had its reflections on the Qatar Stock Exchange, which closed 77 points lower as more than 69% of the stocks were in the red.

The foreign institutions hurriedly squared off their position as the 20-stock Qatar Index shed 0.73% to 10,384.72 points although it touched an intraday high of 10,465 points.

The banks and telecom counters witnessed higher than average selling pressure in the main market, whose year-to-date losses widened to 1.76%.

The Gulf institutions continued to be bearish but with lesser vigour in the main bourse, whose capitalisation melted QR4.74bn or 0.77% to QR607.83bn on the back of midcap segments.

The domestic funds were seen increasingly net buyers in the main market, which saw as many as 2,189 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.02mn change hands across seven deals.

The local retail investors turned bullish in the main bourse, whose trade turnover and volumes were on the decline.

The Islamic index was seen declining slower than the other indices of the main market, which saw no trading of treasury bills.

The Arab individuals were increasingly net buyers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index declined 0.62%, the All Share Index by 0.68% and the All Islamic Index by 0.57% in the main market.

The banks and financial services sector index tanked 1.23%, telecom (0.91%), consumer goods and services (0.39%), insurance (0.1%) and realty (0.09%); while transport gained 0.54%. The industrials index was flat.

Major losers in the main market included Qatari Investors Group, Qatar German Medical Devices, QIIB, Qatar Oman Investment, Meeza, QNB, Qatar Islamic Bank, Dukhan Bank, Lesha Bank and Ooredoo.

In the juniour bourse, Techno Q saw its shares depreciate in value.

Nevertheless, Qatar General Insurance and Reinsurance Group, Al Faleh Educational Holding, Estithmar Holding, Baladna, Vodafone Qatar, Nakilat and Milaha were among the gainers in the main bourse.

The foreign institutions' net selling increased substantially to QR104mn compared to QR31.22mn on March 18.

The foreign individual investors' net selling expanded noticeably to QR3.83mn against QR0.5mn on Tuesday.

However, the domestic funds' net buying strengthened significantly to QR63.54mn compared to QR41.19mn the previous day.

The local individuals turned net buyers to the tune of QR31.96mn against net profit takers of QR3.98mn on March 18.

The Arab individual investors' net buying increased markedly to QR9.85mn compared to QR0.07mn on Tuesday.

The Gulf retail investors were net buyers to the extent of QR3.29mn against net sellers of QR0.48mn the previous day.

The Arab institutions turned net buyers to the tune of QR0.01mn compared with no major exposure on March 18.

The Gulf institutions' net profit booking weakened drastically to QR0.81mn against QR5.07mn on Tuesday.

The main market witnessed a 31% shrinkage in trade volumes to 155.34mn shares, 2% in value to QR465.41mn and 35% in deals to 25,408.

In the venture market, trade volumes tanked 66% to 0.01mn equities, value by 66% to QR0.04mn and transactions by 69% to 4.

Gulf Times