QSE Edges Up As Investor Sentiments Turn Positive on US Hints on Tariffs

Overcoming the initial selling pressure, the Qatar Stock Exchange on Monday settled 18 points higher, after the US hinted at toning down the proposed 25% tariffs on all goods from Mexico and non-energy imports from Canada.

The consumer goods, real estate and industrials sectors witnessed higher than average demand as the 20-stock Qatar Index rose 0.18% to 10,464.09 points, recovering from an intraday low of 10,364 points.

The market has reported 1.01% decline year-to-date.

The foreign institutions’ weakened net profit booking had its influence on the main bourse, whose capitalisation was seen adding QR0.69bn or 0.11% to QR614.13bn on the back of microcap segments.

The domestic institutions continued to be net buyers but with lesser intensity in the main market, which saw as many as 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.06mn changed hands across 11 deals.

The Gulf institutions were seen bearish in the main bourse, whose trade turnover and volumes were on the decline.

The Islamic index was seen gaining faster than the other indices of the main market, which saw no trading of treasury bills.

The local retail investors tuned net sellers in the main bourse, which saw as many as 1,000 sovereign bonds valued at QR10mn change hands across one deal.

The Total Return Index rose 0.27%, the All Share Index by 0.2% and the All Islamic Index by 0.48% in the main market.

The consumer goods and services sector index gained 0.86%, real estate (0.83%), industrials (0.31%), banks and financial services (0.13%) and telecom (0.1%); while insurance and transport declined 0.7% and 0.04% respectively.

Major gainers in the main bourse included Qatar General Insurance and Reinsurance, Vodafone Qatar, United Development Company, Qatar Cinema and Film Distribution, Estithmar Holding and Woqod.

Nevertheless, as much as 52% of the traded constituents in the main market were in the red with major losers being Gulf International Services, Widam Food, Qatar German Medical Devices, Qatar Insurance, QLM and Aamal Company.

In the junior bourse, Techno Q saw its shares depreciate in value.

The foreign institutions’ net selling weakened substantially to QR34.58mn compared to QR201.89mn on February 27.

However, the Gulf institutions turned net sellers to the tune of QR7.43mn against net buyers of QR2.59mn the previous trading day.

The local retail investors were net sellers to the extent of QR6.95mn compared with net buyers of QR24.17mn last Thursday.

The Arab individual investors’ net selling strengthened noticeably to QR5.13mn against QR0.01mn on February 27.

The Gulf individuals were net profit takers to the tune of QR3.91mn compared with net buyers of QR2.87mn the previous trading day.

The foreign individual investors turned net sellers to the extent of QR0.93mn against net buyers of QR4.67mn last Thursday.

The domestic institutions’ net buying decreased drastically to QR58.91mn compared to QR167.33mn on February 27.

The Arab institutions had no major net exposure against net buyers to the tune of QR0.28mn the previous trading day.

The main market witnessed a 51% plunge in trade volumes to 113.02mn shares, 53% in value to QR380.34mn and 16% in deals to 17,840.