Doha, Qatar: Shares in Qatar’s stock market witnessed gain in yesterday’s trading as the Qatar Stock Exchange (QSE) index surged around 80 points or 0.82 percent to close at 9,690.5 points helped by strong buying interest from investors, data by QSE revealed.

The index concluded Thursday’s trading down at 9,610.80 points. During yesterday’s session the volume of shares traded stood at 164,826 million from 159,536 million on Thursday and the value of shares reached QR421.190m from QR495.542m on May 2, as a result of implementing 11,597 deals in all sectors. In the session, the shares of 40 companies rose, while the prices of 11 companies decreased, and two company maintained their previous closing price.

At the end of the trading session, the market capitalisation reached QR564.364bn, compared to the last trading session, which amounted to QR560.124bn. The indices of seven sectors ended in green zone yesterday.

QSE Total Return Index gained 0.82 percent to 21,794.88, QSE Al Rayan Islamic index added 0.65 percent to 4,629.56 points and QSE All Share Index rose 0.81 percent to 3,399.39 points. The indices of banks and financial services, industrials, transportation, real estate, insurance, telecoms and consumer goods and services gained 0.98 percent, 0.38 percent, 1.41 percent, 0.78 percent, 0.05 percent, 0.72 percent and 0.73 percent respectively.

Top gainers in yesterday’s trade were Qatar German for Medical Devices, Widam Food Company, Inma Holding, Dlala Brokerage, Investment Holding and Qatar General Insurance and Reinsurance rising by 9.9 percent, 6.8 percent, 6.4 percent, 3.5 percent and 3.2 percent respectively. While Al Faleh Educational Holding Company, Mekdam Holding Group, Baladna Company, Qatar National Cement, and Qatar Insurance lost 1.1 percent, 1 percent, 0.7 percent, 0.6 percent, and 0.4 percent respectively.

QSE index concluded the last week with a decrease of 0.280 percent, losing 26.790 points to reach the level of 9,610.80 points, under pressure from three sectors, mainly the real estate sector that fell by 0.79 percent, banks and financial services by 0.63 percent, and communications sector by 0.20 percent.

On the other hand, four sectors recorded an increase, led by the services and consumer goods sector by 0.89 percent, insurance by 0.73 percent, the industrial sector by 0.31 percent, and transportation by 0.27 percent.

The decline in the QSE index in the first week of this month coincides with the decision of the US Federal Reserve and the Qatar Central Bank to stabilise interest rates.

He pointed out that the decision cast a shadow on the regions markets and the QSE.

Policymakers at the Federal Reserve have fixed interest rates unchanged at the 5.25 percent and 5.50 percent range for the sixth consecutive meeting since raising borrowing costs in July 2023.

The net profits of QSE listed companies reached QR13.1bn in the first quarter of 2024, an increase of 5.83 percent, compared to net profits of QR12.3bn for the same period in 2023.

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