Latest news with #Qasmieh
Qatar Tribune
5 days ago
- Business
- Qatar Tribune
QSE makes weekly gain of 4.1% as market cap surges to QR631 billion
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.
Zawya
21-02-2025
- Business
- Zawya
Qatar: 'QSE Index driven by rise in leading stocks, higher distributions'
Doha: Qatar Stock Exchange (QSE) closed its last session of the week with a slight gain of 0.08%, bringing the weekly performance to a positive note, with the index rising by 0.33% overall. The highest level reached during the week was 10,654 points, after dipping to its lowest at 10,552 points. Head of Investment at Qatar Securities Company, Ramzi Qasmieh, told Qatar News Agency (QNA) that the stock market's performance this week was supported by the rise of some major stocks, including Qatar Islamic Bank (QIB), which increased by nearly 1.6%, as well as QNB and Industries Qatar, both rising by around 1%. He also highlighted that this week's trading marked the start of the annual general assembly season, with meetings for companies like GWC, Qatar National Cement Company, and Qatar Fuel (WOQOD) taking place. Looking ahead, Qasmieh noted that investors are expecting more general assembly meetings next week, which would lead to more generous cash distributions compared to last year. In his weekly review of the market, Qasmieh pointed out that some listed firms saw notable gains. For example, the shares of Investment Holding Company rose by nearly 11% after announcing 10% stock dividend. Al Mannai also increased by about 7% after the company reported its results and announced a 25% cash dividend for 2024. In terms of sector performance, Qasmieh mentioned that the financial sector, which holds the largest weight in the '20 Index,' posted gains of almost 1%, followed by the transport sector with a 0.44% rise. Meanwhile, the telecommunications and real estate sectors saw declines, with the telecommunications index dropping by 0.54% and the real estate index falling by 0.33%. On liquidity, Qasmieh explained that total trading for the week reached approximately QR1.98bn, with an average daily turnover of QR397m. He pointed out that the market is still moving within narrow ranges due to weaker liquidity compared to previous years at this time. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
