US’ Positive Tariff Signals Lift QSE Above 10,800 Points; M-Cap Adds QR2.53bn

Positive signals from the US on tariff front had its ripple effect on the Qatar Stock Exchange (QSE), which on Monday crossed the 10,800 levels, on the back of strong buying interests of foreign institutions.

The telecom, insurance and industrials counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.46% to 10,801.67 points, recovering from an intraday low of 10,754 points.

The domestic institutions were seen net buyers in the main market, whose year-to-date gains improved to 2.18%.

More than 60% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR2.53bn or 0.4% to QR638.41bn mainly on account of small cap segments.

The Gulf retail investors turned bullish in the main market, which saw 0.05mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.13mn trade across 12 deals.

However, the Gulf individuals were profit takers in the main bourse, whose trade turnover and volumes were on the rise.

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

The Gulf institutions turned bearish in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index rose 0.46%, the All Share Index by 0.33% and the All Islamic Index by 0.48% in the main market.

The telecom sector index shot up 1%, insurance (0.62%), industrials (0.61%), banks and financial services (0.38%), real estate (0.21%) and consumer goods and services (0.1%); while transport declined 0.36%.

Major movers in the main market include Mannai Corporation, Qatar Electricity and Water, QIIB, Ooredoo, Gulf International Services, Commercial Bank, Industries Qatar and QLM.

Nevertheless, Zad Holding, Meeza, Nakilat, Medicare Group, Qatar Oman Investment and Salam International Investment were among the shakers in the main bourse. In the venture market, Techno Q saw its shares depreciate in value.

The foreign institutions’ net buying increased significantly to QR39.12mn compared to QR12.34mn the previous day.

The domestic institutions turned net buyers to the tune of QR11.3mn against net sellers of QR27.333mn on July 6.

The Gulf individual investors were net buyers to the extent of QR1.26mn compared with net sellers of QR0.18mn on Sunday.

However, the Qatari individuals turned net sellers to the tune of QR31.19mn against net buyers of QR7.09mn the previous day.

The Gulf institutions were net profit takers to the extent of QR14.73mn compared with net buyers of QR3.17mn on July 6.

The Arab individual investors turned net sellers to the tune of QR3.42mn against net buyers of QR5.44mn on Sunday.

The foreign retail investors’ net selling expanded perceptibly to QR2.22mn compared to QR0.44mn the previous day.

The Arab institutions’ net profit booking strengthened marginally to QR0.12mn against QR0.02mn on July 6.

The main market saw 30% jump in trade volumes to 132.27n shares and 46% in value to QR386.6mn on more than doubled deals to 21,579.

In the venture market, a total of 0.07mn equities valued at QR0.2mn changed hands across 21 transactions.