The Qatari stock market yesterday increased by more than 100 points, breaking beyond the psychologically significant 11,000 milestone.
The real estate sector increased by 1.05 percent, banking and financial services increased by 1.07 percent, insurance increased by 0.05 percent, telecoms increased by 0.89 percent, and consumer goods and services increased by 0.21, all of which helped the Qatar Exchange (QSE) index advance 145.05 points, or 1.32 percent, to close at 11,108 points. While the transportation sector’s performance was down by 0.60 percent.
Following the execution of 19,856 agreements across all industries, the amount of shares traded during yesterday’s session was 197.353 million, up from 194.148 million on Monday, and their value increased to QR575.637 million from QR531.800 million on July 31. 25 firms saw their shares rise in value during the day, while 24 saw their prices drop, and two saw their closing prices remain the same.
The market capitalization ended the trading day at QR649.855 billion, up from QR642.003 billion at the end of the previous trading session. Six sectoral indicators finished yesterday in the green.
To reach 23,508,65, the QSE Total Return Index increased by 0.54 percent, the QSE Al Rayan Islamic Index by 0.48 percent, and the QSE All Share Index by 0.51 percent.
Mesaieed Petrochemical Holding Co., Dukhan Bank, Barwa Real Estate, Industries Qatar, and Qatar Aluminum Manufacturing were the top gainers in yesterday’s trading, climbing 5.1 percent, 3.5 percent, 2.8 percent, 2.7 percent, and 2.6 percent, respectively. While losses of 1.9 percent, 1.6 percent, 1.5 percent, 1.4 percent, and 1.4 percent were recorded by Mannai Corporation, National Leasing, QLM Life and Medical Insurance, Mekdam Holding Group, and Qatar Oman for Investment, respectively.
The QE Index increased 0.1 percent on July 31 to settle at 10,963. The banking, financial services, and transportation indices saw the largest gains, rising by 0.8 percent and 0.6 percent, respectively. United Development Company and Qatar Islamic Bank were the top gainers, up by 2.3 and 1.8 percent, respectively. Qatar Oman Investment Company and Industries Qatar were two of the biggest losers, both falling by 3.5 and 3 percent, respectively.
Despite selling pressure from Qatari, GCC, and Arab owners, the index increased thanks to buying assistance from foreign shareholders.
From 196.9 million shares traded on Sunday to 191.9 million shares traded on Monday, a 2.5 percent decrease. However, volume for the day was 3.7 percent higher than the 30 day moving average of 185.1 million.