QSE index gains 35 points on domestic funds' increased buying

21/02/2025 04:21 AST

Discounting apprehensions over the US tariff policy and the cautious approach of the Federal Reserve on interest rates, the Qatar Stock Exchange (QSE) saw its key index gain as much as 35 points and capitalisation add QR3.54bn this week.

The domestic funds were seen increasingly into net buying as the 20-stock Qatar Index gained 0.33% this week which saw Al Mahhar Holding announce its shifting to the main market from February 24.

The Arab retail investors turned bullish, albeit at lower levels, in the main bourse this week which saw the Qatar Insurance Group make strategic investments in three insurtecs.

The Gulf institutions' substantially weakened net profit booking had its influence in the main market this week which saw Ooredoo and Iron Mountain enter into partnership to accelerate data centre across the Middle East and North Africa.

The banks, transport and industrials counters witnessed higher than average demand in the main bourse this week which saw the QSE board being reconstituted by the Qatar Investment Authority.

The Arab institutions continued to be net buyers but with lesser intensity in the main bourse this week which however saw a total of 0.06mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.14mn trade across 26 deals.

The foreign funds were seen net profit takers in the main market this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.07mn change hands across nine transactions.

The Islamic index was seen declining vis-à-vis gains in the other indices of the main market this week which saw the realty and industrials together constitute more than 51% of the total trade volumes.

Market capitalisation added 0.57% to QR623.84bn on the back of midcap segments this week, which saw no trading of sovereign bonds.

Trade volumes and turnover were on the increase in both the main bourse and junior market this week which saw no trading of treasury bills.

The Total Return Index rose 0.51% and the All Share Index by 0.54%, while the All Islamic Index was down 0.08% this week.

The banks and financial services sector index gained 0.95%, transport (0.44%) and industrials (0.39%); while telecom declined 0.54%, real estate (0.33%), insurance (0.29%) and consumer goods and services (0.24%) this week.

Major gainers in the main market included Estithmar Holding, Mannai Corporation, Salam International Investment, Ahlibank Qatar, Al Khaleej Takaful, QNB, Qatar Islamic Bank, Lesha Bank, Al Faleh Educational Holding and Ezdan this week.

Nevertheless, more than 65% of the traded constituents were in the red with major shakers being Qatar National Cement, Beema, Meeza, Inma Holding, Zad Holding, Dlala, Woqod and United Development Company this week.

The domestic institutions' net buying increased perceptibly to QR142.89mn compared to QR138.49mn the week ended February 13.

The Arab individual investors turned net buyers to the tune of QR0.9mn against net sellers of QR4.82mn the previous week.

The Gulf institutions' net selling decreased drastically to QR33.3mn compared to QR112.23mn a week ago.

However, the foreign funds' net selling strengthened significantly to QR59.73mn against QR15.02mn the week ended February 13.

The Qatari individuals' net profit booking expanded substantially to QR34.15mn compared to QR4.37mn the previous week.

The Gulf individual investors' net selling increased marginally to QR10.07mn against QR9.45mn a week ago.

The foreign retail investors were net sellers to the tune of QR7.07mn compared with net buyers of QR6.58mn the week ended February 13.

The Arab institutions' net buying eased marginally to QR0.55mn against QR0.79mn the previous week.

The main market witnessed a 62% surge in trade volumes to 782.89mn shares, 33% in value to QR1.97bn and 36% in deals to 68,906 this week.

In the venture market, trade volumes soared 26% to 6.19mn equities, value by 22% to QR17.15mn and transactions by 73% to 235.

Gulf Times