US Rate Cut Prospects Lift QSE 102 Points, M-Cap Adds QR7.98bn; Islamic Equities Outperform

The US Federal Reserve rate cut prospects and domestic earnings expectations masked the concerns regarding the impact of Washington's tariff on several trading nations that the Qatar Stock Exchange (QSE) surged 102 points to touch a fresh multi-year high and capitalisation add QR8bn this week.

The foreign funds were increasingly net buyers as the 20-stock Qatar Index gain 0.91% this week which saw Industries Qatar report net profit of QR2bn in the first half (H1) of 2025.

The transport, industrials and real estate counters witnessed higher than average demand this week which saw Qatar Electricity & Water Company generate a net profit of QR662m in H1-2025.

More than 62% of the traded constituents extended gains to investors in the main market this week which saw Qamco, a 50% joint venture partner in Qatar Aluminum Company (Qatalum), report H1-2025 net profit at QR342mn.

The Gulf institutions’ increased net buying had its influence on the main bourse this week which saw Al Mahhar Holding Company earn net profit of QR26.7mn in H1-2025.

The Arab retail investors’ weakened net selling had its impact on the main market this week which saw Forbes Middle East find that Qatar’s top 20 companies dominate the market with them accounting for more than 89% of total market capitalisation.

The Arab funds’ lower net profit booking had its marginal effect on the main bourse this week which saw Doha Bank enhance the digital payroll solutions for government entities through the expansion of its secured "Tadbeer" platform.

However, the local retail investors were increasingly net sellers in the main market this week which saw the Ministry of Commerce and Industry launch a dedicated digital platform under the public-private partnership programme to showcase investment opportunities and projects available to private investors.

The domestic funds were seen increasingly bearish in the main bourse this week which saw a total of 0.04mn AlRayan Bank-sponsored exchange traded fund QATR worth QR0.1mn trade across 18 deals.

The foreign individuals turned net profit takers in the main market this week which saw 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.02mn change hands across five transactions.

The Islamic index was seen outperforming the other indices of the main market this week, which saw as many as 0.03mn sovereign bonds valued at QR344.07mn change hands across five deals.

Market capitalisation added QR7.98bn or 1.19% to QR676.28bn on the back of large and midcap segments this week which saw no trading of treasury bills.

Trade turnover and volumes were on the increase in the main market; while the junior bourse saw lower trade turnover and volumes this week which saw the consumer goods, industrials and realty sectors together constitute more than 79% of the total trade volumes.

The Total Return Index shot up 0.99%, the All Islamic Index by 1.11% and the All Share Index by 0.97% this week which saw Qatar's maritime sector display solid performance in July 2025 with Hamad, Doha and Al Ruwais ports witnessing a robust year-on-year growth in ship arrivals, cargoes, livestock, building materials and vehicles.

The transport sector index soared 2.27%, industrials (1.68%), real estate (0.92%), banks and financial services (0.88%) and consumer goods and services (0.66%); while insurance and telecom declined 2.02% and 0.33% respectively this week.

The market was skewed towards movers with 33 constituents extending gains, while 20 declined this week which saw Doha Insurance reveal net profit of QR116.58mn in H1-2025.

Major gainers in the main market included Estithmar Holding, Baladna, Mazaya Qatar, Milaha, Qatar Electricity and Water, QNB, Doha Bank, AlRayan Bank, Alijarah Holding, Dlala, Qatar German Medical Devices, Salam International Investment, Medicare Group, Aamal Company, Mesaieed Petrochemical Holding and Ezdan. In the juniour bourse, Techno Q saw its shares appreciate in value this week.

Nevertheless, Qatar General Insurance and Reinsurance, Al Khaleej Takaful, Qatar Insurance, Ahlibank Qatar, Inma Holding, Commercial Bank and Qatar Islamic Insurance were among the shakers in the main market this week.

The foreign institutions’ net buying increased substantially to QR204.91mn compared to QR121.36mn the previous week.

The Gulf institutions’ net buying expanded significantly to QR51.45mn against QR36.61mn the week ended July 31.

The Arab retail investors’ net profit booking decreased perceptibly to QR8.03mn compared to QR10.32mn a week ago.

The Arab institutions’ net selling weakened marginally to QR0.28mn against QR0.86mn the previous week.

The Gulf individuals’ net profit booking shrank markedly to QR0.25mn compared to QR1.14mn the week ended July 31.

However, the local individuals’ net selling strengthened drastically to QR214.55mn against QR143.58mn a week ago.

The domestic institutions’ net profit booking grew considerably to QR27.97mn compared to QR3.24mn the previous week.

The foreign individuals turned net sellers to the tune of QR5.26mn against net buyers of QR1.16mn the week ended July 31.

The main market saw 43% surge in trade volumes to 1.04bn shares, 13% in value to QR2.23bn and 29% in deals to 115,170 this week.

In the venture market, trade volumes were down 15% to 0.11mn equities, value by 14% to QR0.3mn and transactions by 2% to 41.