Qatar Stock Exchange Crosses 10,700 Mark

Strategic Insights -

The Qatar Stock Exchange (QSE) reached a new high on Monday, driven by significant gains in the industrials, banking, and telecom sectors. The Gulf institutions increased their net buying, while Arab individuals became more bullish in the market. The main market saw a significant increase in trade volumes and values, with the Total Return Index gaining 0.65%.

Key Takeaways:

  • The QSE crossed the 10,700 mark, gaining more than 69 points on Monday.
  • The industrials sector index rose 0.94%, while banks and financial services (0.88%), telecom (0.86%), and consumer goods and services (0.56%) also gained.
  • Major gainers in the main market included Industries Qatar, Ooredoo, QIIB, Estithmar Holding, and Qatar Islamic Bank.
  • The Gulf institutions' net buying increased substantially to QR31.42mn, while Arab individual investors' net buying strengthened noticeably to QR10.13mn.
  • The domestic institutions' net profit booking grew significantly to QR24.4mn, while the foreign institutions' net buying decreased perceptibly to QR18.57mn.
  • The main market witnessed a 36% surge in trade volumes to 292.09mn shares and a 75% increase in value to QR732.05mn on more than doubled deals to 32,431.

Statistics:

  • The Qatar Stock Exchange (QSE) gained 0.65% to 10,710.09 points.
  • The Total Return Index gained 0.65%, the All Islamic Index by 0.55%, and the All Share Index by 0.7% in the main market.
  • The industrials sector index rose 0.94%, while the telecom sector index rose 0.86%.
  • Major gainers in the main market included Countries Qatar (24.29%), Industries Qatar (23.48%), Estithmar Holding (20.98%), and Qatar Islamic Bank (16.14%).
  • The trade turnover in the main market increased to QR732.05mn, with a total of 32,431 deals.

Sources:

  • (Source: Qatar Stock Exchange, May 22, 2023)
  • (Source: Al Jazeera, May 22, 2023)
  • (Source: Trading Economics, May 2023)