QSE index falls below 10,200 points; M-cap melts QR1.72bn

26/03/2025 06:05 AST

Reflecting the chaos arising from lack of clarity over the US' reciprocal tariff policy, the Qatar Stock Exchange (QSE) continued to be under selling pressure for the fifth straight session and its key index settled below 10,200 levels.

The insurance, telecom, consumer goods, industrials, realty and transport counters witnessed higher than average selling pressure as the 20-stock Qatar Index fell 28 points or 0.28% to 10,157.56 points, having touched an intraday high of 10,223 points.

The foreign institutions continued to be net profit takers but with lesser intensity in the main market, whose year-to-date losses widened further to 3.91%.

As much as 74% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR1.72bn or 0.29% to QR596.44bn on the back of small and microcap segments.

The domestic institutions' weakened net buying had its influence in the main market, which saw as many as 3,697 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.03mn change hands across four deals.

The local retail investors' lower net buying also had its say in the main bourse, whose trade turnover and volumes were on the increase.

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

The Gulf individuals' weakened net buying had its impact on the main bourse, which saw no trading of sovereign bonds.

The Total Return Index declined 0.28%, the All Share Index by 0.27% and the All Islamic Index by 0.38% in the main market.

The insurance sector index tanked 1.18%, telecom (0.93%), consumer goods and services (0.75%), industrials (0.73%), real estate (0.62%) and transport (0.51%); while banks and financial services gained 0.15%.

Major losers in the main bourse included Mekdam Holding, Qatari German Medical Devices, Vodafone Qatar, Al Faleh Educational Holding, Qatar Insurance, Industries Qatar, Aamal Company, Qatari Investors Group, Qamco, United Development Company and Ezdan. In the venture market, Techno Q saw its shares depreciate in value.

Nevertheless, Al Mahhar Holding, Estithmar Holding, Gulf Warehousing, Masraf Al Rayan and Meeza were among the gainers in the main market.

The domestic institutions' net buying decreased significantly to QR10.54mn compared to QR41.45mn on March 24.

The local individual investors' net buying weakened noticeably to QR2.4mn against QR20.31mn the previous day.

The Gulf retail investors' net buying eased marginally to QR0.59mn compared to QR0.83mn on Monday.

However, the Gulf institutions were net buyers to the tune of QR4.81mn against net sellers of QR9.87mn on March 24.

The Arab individuals turned net buyers to the extent of QR3.12mn compared with net sellers of QR2.5mn the previous day.

The foreign individual investors' net buying strengthened marginally to QR2.43mn against QR2.03mn on Monday.

The foreign institutions' net profit booking weakened drastically to QR23.89mn compared to QR52.25mn on March 24.

The Arab institutions had no major net exposure for the fourth straight session.

The main market witnessed 5% jump in trade volumes to 126.69mn shares and 3% in value to QR313.42mn but on less than 1% shrinkage in deals to 14,749.

In the junior bourse, trade volumes plummeted 70% to 7,444 equities; value by 70% to QR0.02mn and transactions by 43% to four.

Gulf Times