Satyendra Pathak
Doha
The Qatar Stock Exchange (QSE) Index experienced a significant rise during the shortened trading week, closing at 10,571.09 points. The index gained 157.68 points, equivalent to a 1.51 percent increase, reflecting positive market sentiment despite the reduced trading days caused by the year-end closure.
Market capitalisation also saw an improvement, growing by QR5.6 billion to reach QR620.8 billion from QR615.2 billion recorded at the end of the previous week.
Among individual stocks, Qatar International Islamic Bank (QIIB) emerged as the best performer for the week, registering a 3.3 percent increase. Conversely, Qatar Cinema & Film Distribution Company (QCFS) was the week’s worst-performing stock, with a 6 percent decline.
Notably, the contributions of Industries Qatar (IQ), Qatar Islamic Bank (QIB), and Nakilat (QGTS) were instrumental in the index’s rise. IQ added a substantial 29.23 points to the index, followed by QIBK, which contributed 25.82 points, and QGTS, which added another 14.89 points.
Trading activity was significantly reduced due to the shortened week. The total traded value dropped by 49.1 percent to QR799.1 million, compared to QR1,570.5 million in the prior week.
The QNB Group (QNB) emerged as the most traded stock by value, recording a total traded value of QR68.2 million. Similarly, traded volume saw a sharp decline, falling by 50.2 percent to 263.6 million shares from 529.9 million shares in the previous week.
Qatar Aluminium Manufacturing Company (QAMCO) led in traded volume with 29.1 million shares traded. The number of transactions also decreased, dropping by 42.3 percent to 27,950 from 48,467 in the previous week.
Investor behaviour showcased mixed trends. Foreign institutions continued their net selling streak, albeit at a reduced pace, with net sales of QR26.2 million compared to QR127.2 million in the previous week. In contrast, Qatari institutions maintained a bullish stance, with net buying of QR66 million, up from QR34.3 million in the prior week.
Foreign retail investors shifted to a net selling position, recording QR41.7 million in sales after a net buying position of QR48.7 million the previous week. Meanwhile, Qatari retail investors showed subdued activity, recording net buying of only QR2.0 million, a significant drop from QR44.2 million in the prior week.
Year-to-date figures highlight a broader trend of outflows, with global foreign institutions recording net sales of $179.7 million. GCC institutions also remained net sellers, with an outflow of $446.2 million in Qatari stocks.
Despite the lower trading volumes and values, the QSE Index’s strong performance during the shortened week underscores the market’sresilience.
The contributions from major sectors and key stocks, coupled with Qatari institutions’ bullish stance, reflect positive investor sentiment heading into the new year. As the market enters 2025, the focus will likely shift to corporate earnings and broader economic indicators to sustain this upwardmomentum.
Across the region, the Saudi Stock Exchange’s main index rose by 25.24 points on Thursday, closing at 12,102.55 points. The session saw trading of 287 million shares, with the prices of 99 companies increasing and 131 companies declining. The Saudi Parallel Market Index (NOMU) also advanced, gaining 11.83 points to close at 31,005.69 points. NOMU recorded a trading value of SAR 43 million with over four million shares exchanged.
In contrast, the Muscat Stock Exchange (MSX) general index closed lower on Thursday, settling at 4,573.30 points after a decline of 6.7 points, or 0.15 percent. The trading value saw a steep drop to OMR 5,752, a 240.6% decline compared to OMR 1,689 in the previous session. An MSX report highlighted a slight decrease in market value by 0.071 percent, bringing it to approximately OMR 27.59 billion.
The diverse performances across regional markets reflect varying investor sentiments and market conditions as the trading year draws to a close. With key developments in QSE and neighboring markets, investors will remain focused on upcoming earnings reports and broader economic indicators as 2025 unfolds.
