QSE makes weekly gain of 4.1% as market cap surges to QR631 billion

Qatar Tribune

2 days ago

Satyendra Pathak
Doha
The Qatar Stock Exchange (QSE) Index recorded a strong performance this week, gaining 423.52 points or 4.1 percent to close at 10,684.66 points. The rally lifted market capitalisation by 4.2 percent, rising from QR605.4 billion to QR631.0 billion.
All 53 listed companies closed the week in positive territory, led by Mannai Corporation that surged 19.4 percent, followed by Widam Food Company with a 15.4 percent gain. Dukhan Bank was the week's least performing stock but still managed a marginal increase of 0.4 percent.
In a statement to Qatar News Agency, Qatar Securities Company Investment Director Ramzi Qasmieh said that the market's capitalisation rose by approximately QR25.87 billion on a weekly basis, reaching QR631.27 billion.
He attributed the gains to fresh liquidity entering the market following two key developments — the de-escalation of conflict between Iran and Israel and the Qatar Investment Authority's announcement of a $200 million active investment portfolio. These factors, coupled with anticipation of first-half corporate results and potential semi-annual dividend announcements, helped boost investor sentiment.
Qasmieh noted that the positive momentum extended across all sectors, with transportation leading the gains at 7.7 Qatar Securities Company, followed by telecommunications at 7.5 Qatar Securities Company. He added that no stock witnessed a decline in trading volume, reflecting a broadly optimistic trading environment.
Key contributors to the index's rise included Nakilat, Qatar Islamic Bank (QIB), and Ooredoo that added 59.13, 45.37, and 37.35 points, respectively.
Despite the bullish sentiment, total traded value declined 1.6 percent to QR3.02 billion from QR3.07 billion the previous week. QNB Group (QNB) was the top value traded stock, recording QR314.9 million in turnover.
In contrast, traded volume increased 3.9 percent to 1.22 billion shares, with Ezdan Holding Group leading in volume at 110.8 million shares.
Foreign institutional investors emerged as strong net buyers, with purchases totaling QR730.7 million, a sharp rise from QR93.9 million the week before. Qatari institutions offset this inflow with net selling of QR634.5 million. Foreign retail investors also reversed course, recording net buying of QR5.8 million, while Qatari retail investors posted net selling of QR101.9 million.
Looking ahead, Qasmieh expects continued positive performance on the QSE toward the end of the month, driven by portfolio rebalancing and the anticipated impact of earnings and dividend announcements on corporate profits.
According to a report by QNB Financial Services (QNBFS), year-to-date, global foreign institutions remain net sellers of Qatari equities by $10.9 million, while GCC institutions are net short by$27.7 million.