Qatar Stock Exchange Sees Positive Spillover from US-Japan Trade Deal

Strategic Insights -

The Qatar Stock Exchange saw a notable increase in its key indices yesterday, driven by strong buying interests from foreign institutions and domestic funds. The US-Japan trade deal had a positive impact on the market, with investors seeking opportunities in the Qatar Stock Exchange. The main market's year-to-date gains improved further to 5.83%, and more than 67% of the traded constituents extended gains to investors in the main bourse.

Key Takeaways:

  • The Qatar Index gained 0.42% to 11,187.5 points, recovering from an intraday low of 11,085 points.
  • The Gulf institutions were increasingly bullish in the main market, with their net buying strengthened noticeably to QR4.56mn.
  • The foreign retail investors turned net buyers, albeit at lower levels, in the main market, with a total of QR0.88mn traded.
  • The domestic funds' weakened net selling had its influence on the main bourse, with a trade turnover and volumes on the rise.
  • Major gainers in the main market included Commercial Bank, Ezdan, QIIB, Mazaya Qatar, and Vodafone Qatar.
  • The telecom sector index rose 0.8%, industrials (0.49%), banks and financial services (0.45%), and real estate (0.36%).
  • The foreign institutions' net buying increased significantly to QR57.5mn compared to QR8.66mn the previous day.

Statistics:

  • The Qatari Stock Exchange's Total Return Index gained 0.42%.
  • The All Islamic Index rose by 0.41%.
  • The All Share Index increased by 0.39% in the main market.
  • The main market saw a 17% jump in trade volumes to 207.22mn shares.
  • The value of traded shares experienced a 16% increase to QR521.81mn.
  • Trade deals rose by 11% to 21,058.

Sources:

  • Qatar Stock Exchange website
  • Gulf Times article, date not specified