Doha, Qatar: Qatari stocks surged yesterday on the back of buying support from local and foreign investors as the Qatar Stock Exchange (QSE) index continued its bull run soaring around 199.05 points or 1.93 percent to close at 10,531.87 points, yesterday.
The local investors led the rally as their share in total buy trades was around 59.75 percent. The index rose by 1.9 percent at the beginning of yesterday’s trading session, adding 195.91 points to reach the level of 10,528 points compared to the close of Monday’s session, supported by gains across all sectors.
The QSE opened the week on a positive note with its benchmark index gaining 0.19 percent to 10,280.2 points.
The QSE market capitalisation witnessed an uptick yesterday to reach QR621.957bn compared to QR610.525bn at the end of the previous trading session. This increase was supported by positive performances across various sectors, reflecting a generally optimistic market sentiment.
The volume of shares traded increased to 329.42 million yesterday from 226.31 million on Monday and the value of shares increased to QR688.14m from QR468.24m on June 23 as a result of implementing 26,670 deals in all sectors compared to 25,490 in the previous session.
Meanwhile the shares of 51 companies rose, while the prices of 5 companies decreased, and zero companies remained unchanged.
QSE Total Return Index gained 1.93 percent to 24,845.68, QSE Al Rayan Islamic index increased 1.88 percent to 2,277.14 points and QSE All Share Index was up 1.76 percent to 3,883.16 points.
The telecoms index made the most gains yesterday, up substantially by 3.02 percent to 2,149.24 points followed by transportation up by 2.92 percent to 5,707.37 points.
Followed by the real estate index which gained 2.60 percent (1,607.97 points), banks and financial services 1.65 percent (4,838.02 points), industrials 1.47 percent (4,209.13 points), insurance 1.24 percent (2,270.68 points), consumer goods and services 0.96 percent (7,918.82 points).
Widam Food Company, Qatar German for Medical Devices, Lesha Bank, Ezdan Holding Group, Inma Holding were among the top gainers which increased by 7.5 percent, 6.6 percent, 5.8 percent, 5.1 percent and 4.6 percent, respectively. Qatar General Insurance and Reinsurance, Qatar Islamic Insurance, Al Ahli Bank, Al Meera Consumer Goods Company lost 2.2 percent, 0.8, 0.4 percent, and 0.4 percent respectively in yesterday’s trade.
On the other hand the indices of banks and financial services, industrials, transportation, real estate, telecoms, and consumer goods and services gained 0.28 percent, 0.71 percent, 1.30 percent, 0.57 percent, 0.79 percent, and 0.97 percent respectively.
Top gainers in the previous session (June 23) of trade were Qatar German for Medical Devices, Gulf International Services, Baladna Company, Doha Bank, and Ahli Bank rising by 4.1 percent, 2.9 percent, 2.9 percent, 2.6 percent and 2.5 percent respectively.
The oil prices fell sharply to their lowest levels in over a week yesterday. Meanwhile brent crude futures were down $2.08, or 2.9 percent, at $69.40 a barrel, after earlier tumbling more than 4 percent and touching its lowest level since June 11.
