QSE Index Climbs to 11,187 Level As Bull Run Continues

DOHA: The Qatari stocks continued its bull run as the the Qatar Stock Exchange (QSE) index soared by 46.46 points or 0.42 percent to close at 11,187.50 level, yesterday.

The local investors led the rally as their share in total buy trades was around 57.58 percent and foreigners at 27.84 percent.

The QSE index has maintained its pace and crossed the 11,000-point barrier on July 21 as the general index closed Monday’s trading higher by 118.90 points, or 1.08 percent, to close at 11,141.04 points.

The general index has benefited from the positive results of listed companies that have disclosed their data so far. The local and foreign portfolios are awaiting the results of the remaining companies’ interim dividend distributions.

This positive trend persists since the beginning of the week which highlights Qatar’s resilient financial market. This shows the market is in a state of balance and stability and is maintaining its support points.

The QSE market capitalisation witnessed an uptick yesterday to reach QR660.828bn compared to QR657.605bn at the end of the previous trading session. This increase was supported by positive performances across various sectors, reflecting a generally optimistic market sentiment.

The volume of shares traded increased to 207.251 million yesterday from 177.873 million on Tuesday and the value of shares increased to QR688.14m from QR468.24m on July 23 as a result of implementing 21,076 deals in all sectors compared to 19,022 in the previous session.

Meanwhile the shares of 37 companies rose, while the prices of 15 companies decreased, and three companies remained unchanged.

QSE Total Return Index gained 0.42 percent to 26,498.62, QSE Al Rayan Islamic index increased by 0.41 percent to 5,290.12 points and QSE All Share Index was up 0.39 percent to 4,146.69 points.

The telecoms index made the most gains yesterday, up substantially by 0.80 percent to 2,183.48 points followed by industrials up by 0.49 percent to 4,451.12 points.

This was followed by the banks and financial services index which gained 0.45 percent (5,265.05 points), real estate 0.36 percent (1,682.20 points), consumer goods and services 0.20 percent (8,306.20 points), and insurance 0.15 percent (2,452 points). Meanwhile the transpiration declined by 0.28 percent (5,790.07 points).

The Commercial Bank, Ezdan Holding Group, Qatar International Islamic Bank, Mazaya Real Estate Development and Baladna Company were among the top gainers at they increased by 3.2 percent, 2.5 percent, 1.9 percent, 1.4 percent and 1.4 percent, respectively.

The QSE index closed last week up by 0.81 percent, adding 88.01 points to its tally, reaching 10,915 points, approaching the 11,000-point barrier. This was supported by the real estate sector, which achieved the highest weekly gains of 2.87 percent, followed by the banking and financial services sector with 1.3 percent. The telecommunications sector was the only loser this week, losing 0.30 percent.