QSE surges 135 points; M-cap adds QR7.69bn

01/05/2025 03:22 AST

Ahead of the US economic data and reflecting the easing tariff concerns, the Qatar Stock Exchange (QSE) on Wednesday gained as much as 135 points in index and more than QR7bn in capitalisation.

The 20-stock Qatar Index was seen surging 1.3% to 10,459.88 points on an across the board buying, particularly in the banking sector. The market recovered from an intraday low of 10,335 points.

The foreign institutions turned bullish in the main market, whose year-to-date losses truncated further to 1.05%.

About 54% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR7.69bn or 1.26% to QR616.95bn on the back of large and midcap segments.

The Arab retail investors' weakened net selling had its influence on the main market, which saw as many as 0.02mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.06mn change hands across 12 deals.

However, the Qatari individuals turned net sellers in the main bourse, whose trade turnover and volumes were on the increase.

The Islamic index was underperforming the other indices of the main market, which saw no trading of treasury bills.

The domestic institutions were seen net profit takers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index rose 1.3%, the All Islamic Index by 0.9% and the All Share Index by 1.29% in the main market.

The banks and financial services sector index shot up 1.72%, insurance (1.23%), real estate (1.09%), telecom (1.03%), industrials (0.96%), transport (0.58%) and consumer goods and services (0.14%).

Major gainers in the main bourse included Qatar General Insurance and Reinsurance, Commercial Bank, Al Mahhar Holding, Beema, Salam International Investment, QNB, QIIB, Lesha Bank, Dukhan Bank, Salam International Investment, Mannai Corporation, Industries Qatar, Ooredoo and Milaha. In the venture market, Techno Q saw its shares appreciate in value.

Nevertheless, Widam Food, QLM, Qatar National Cement, Doha Bank, Doha Insurance, United Development Company and Vodafone Qatar were among the losers in the main market.

The foreign institutions turned net buyers to the tune of QR73.64mn compared with net sellers of QR6.44mn on April 29.

The Gulf retail investors were net buyers to the extent of QR0.12mn against net sellers of QR6.02mn the previous day.

The Arab individual investors' net profit booking eased perceptibly to QR4.02mn compared to QR5.86mn on Tuesday.

However, the Qatari individuals turned net sellers to the tune of QR40.04mn against net buyers of QR5.14mn on April 29.

The domestic institutions were net sellers to the extent of QR21.83mn compared with net buyers of QR14.02mn the previous day.

The Gulf institutions' net profit booking strengthened noticeably to QR5.13mn against QR0.98mn on Tuesday.

The foreign individual investors turned net sellers to the tune of QR2.74mn compared with net buyers of QR0.12mn on April 29.

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

The main market witnessed a 1% jump in trade volumes to 198.59mn shares, about 1% in value to QR473.84mn and 14% in deals to 29,220.

The venture market saw 12 many as 1,532 equities valued at QR4,221 change hands across one transaction.

Gulf Times