Qatar: QSE index falls below 10,200 points; M-cap melts $472mln
Qatar - The insurance, telecom, consumer goods, industrials, realty and transport counters witnessed higher than average selling pressure as the 20-stock Qatar Index fell 28 points or 0.28% to 10,157.56 points, having touched an intraday high of 10,223 points
Reflecting the chaos arising from lack of clarity over the US' reciprocal tariff policy, the Qatar Stock Exchange (QSE) continued to be under selling pressure for the fifth straight session and its key index settled below 10,200 levels.
The insurance, telecom, consumer goods, industrials, realty and transport counters witnessed higher than average selling pressure as the 20-stock Qatar Index fell 28 points or 0.28% to 10,157.56 points, having touched an intraday high of 10,223 points.
The foreign institutions continued to be net profit takers but with lesser intensity in the main market, whose year-to-date losses widened further to 3.91%.
As much as 74% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR1.72bn or 0.29% to QR596.44bn on the back of small and microcap segments.
The domestic institutions' weakened net buying had its influence in the main market, which saw as many as 3,697 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.03mn change hands across four deals.
The local retail investors' lower net buying also had its say in the main bourse, whose trade turnover and volumes were on the increase.
The Islamic index was seen declining faster than the other indices of the main market, which saw no trading of treasury bills.
The Gulf individuals' weakened net buying had its impact on the main bourse, which saw no trading of sovereign bonds.
The Total Return Index declined 0.28%, the All Share Index by 0.27% and the All Islamic Index by 0.38% in the main market.
The insurance sector index tanked 1.18%, telecom (0.93%), consumer goods and services (0.75%), industrials (0.73%), real estate (0.62%) and transport (0.51%); while banks and financial services gained 0.15%.
Major losers in the main bourse included Mekdam Holding, Qatari German Medical Devices, Vodafone Qatar, Al Faleh Educational Holding, Qatar Insurance, Industries Qatar, Aamal Company, Qatari Investors Group, Qamco, United Development Company and Ezdan. In the venture market, Techno Q saw its shares depreciate in value.
Nevertheless, Al Mahhar Holding, Estithmar Holding, Gulf Warehousing, Masraf Al Rayan and Meeza were among the gainers in the main market.
The domestic institutions' net buying decreased significantly to QR10.54mn compared to QR41.45mn on March 24.
The local individual investors' net buying weakened noticeably to QR2.4mn against QR20.31mn the previous day.
The Gulf retail investors' net buying eased marginally to QR0.59mn compared to QR0.83mn on Monday.
However, the Gulf institutions were net buyers to the tune of QR4.81mn against net sellers of QR9.87mn on March 24.
The Arab individuals turned net buyers to the extent of QR3.12mn compared with net sellers of QR2.5mn the previous day.
The foreign individual investors' net buying strengthened marginally to QR2.43mn against QR2.03mn on Monday.
The foreign institutions' net profit booking weakened drastically to QR23.89mn compared to QR52.25mn on March 24.
The Arab institutions had no major net exposure for the fourth straight session.
The main market witnessed 5% jump in trade volumes to 126.69mn shares and 3% in value to QR313.42mn but on less than 1% shrinkage in deals to 14,749.
In the junior bourse, trade volumes plummeted 70% to 7,444 equities; value by 70% to QR0.02mn and transactions by 43% to four.
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
Santhosh V. Perumal
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
3 hours ago
- Gulf Today
UAE's Islamic finance and halal industry poised for robust growth
The UAE continues to cement its status as a leading global hub for Islamic finance and the halal industry, aligned with a comprehensive development vision aimed at diversifying the national economy and enhancing global competitiveness. Backed by forward-thinking government policies, a modern regulatory framework, and cutting-edge financial and industrial infrastructure, both sectors are witnessing dynamic growth. The UAE is investing heavily in a knowledge- and innovation-based economy, with Islamic finance and halal products playing key roles in this transformation. In May, the UAE launched a national strategy for Islamic finance and halal industry development. The plan sets out to create an integrated ecosystem for Islamic financial activities, including banking, Takaful (Islamic insurance), Sukuk (Islamic bonds), and non-banking financial services-aligned with international best practices and standards. According to February data from the Central Bank of the UAE, Islamic banks now account for approximately 18 per cent of total banking assets and 22.8 per cent of total credit within the national banking sector. The Islamic Sukuk market, in particular, has expanded significantly. Notably, the federal government launch of the dirham-denominated Islamic Treasury Sukuk (T-Sukuk) in 2023, signaling a new era for the sector. The UAE is now recognised as one of the world's largest Sukuk listing centres. As of May, Sukuk listed on Nasdaq Dubai exceeded $95.7 billion, reinforcing the country's position as a global hub for Sharia-compliant fixed-income instruments. In the 2023, the country was ranked fourth globally in Islamic financial markets by assets, according to the 2023 Islamic Finance Development Indicator based on total assets. Jamal Saleh, Director-General of the UAE Banks Federation (UBF), noted that the strategy outlines ambitious goals to elevate the Islamic economy's role both domestically, regionally, and internationally. In statements to the Emirates News Agency, Saleh highlighted the UAE's successful development of financial systems that have empowered the Islamic banking sector as part of the nation's broader diversification agenda. He pointed to significant strides in Islamic banking, Sukuk issuance, and broader Sharia-compliant finance. Saleh also noted the sector's impressive growth trajectory. As of February 2025, total credit granted by Islamic banks reached Dhs503.5 billion, a 16 per cent year-on-year increase. Private sector credit alone stood at Dhs350.4 billion, growing 13.2 per cent annually. Meanwhile, deposits at Islamic banks surged to Dhs595.3 billion, marking an annual growth rate of 16.9 per cent. Parallel to its financial achievements, the UAE is asserting itself as a global halal industry hub. Under the newly approved national strategy, the UAE aims to increase halal exports from Dhs74 billion to Dhs315 billion by 2031, leveraging its strategic location and world-class infrastructure. Saleh Lootah, Chairman of the UAE Food and Beverage Manufacturers Group, in statements to WAM, said that the strategy is a landmark step toward establishing the UAE as a global halal production centre. He highlighted growing local manufacturer interest in expanding into this vital sector, particularly as global demand for halal products accelerates. According to a report by Bonafide Research on the halal food and beverage market in the UAE, the market size is projected to exceed $31.27 billion by 2029. This growth reflects the increasing demand for halal-certified products, both within the country and globally, as consumers become more conscious of dietary and ethical standards. The UAE's strategic location as a global trade and tourism hub plays a key role in driving this expansion. Its position enhances the country's appeal to both local and international consumers seeking trusted halal-certified goods, reinforcing the UAE's reputation as a leading centre for halal commerce. Meanwhile the Islamic finance sector in the UAE benefits from a dynamic economic environment and advanced regulatory policies that support Sharia-compliant financial activities. Since the establishment of the UAE's first Islamic bank in 1975, the sector has grown significantly over the decades, becoming a fundamental pillar of the national economy. The industry encompasses Islamic banks, Islamic windows in conventional banks, and sukuk (Islamic bonds), which have witnessed rapid growth in both domestic and international markets. The UAE is committed to developing economic policies and legislation to enhance Islamic finance and the broader Islamic economy. These efforts align with national objectives to ensure sustainable economic growth and establish the UAE as a global hub for the Islamic economy. WAM
Al Etihad
7 hours ago
- Al Etihad
UAE's Islamic finance, halal industry poised for robust growth, economic diversification
14 June 2025 12:30 ABU DHABI (WAM)The UAE continues to cement its status as a leading global hub for Islamic finance and the halal industry, aligned with a comprehensive development vision aimed at diversifying the national economy and enhancing global by forward-thinking government policies, a modern regulatory framework, and cutting-edge financial and industrial infrastructure, both sectors are witnessing dynamic growth. The UAE is investing heavily in a knowledge- and innovation-based economy, with Islamic finance and halal products playing key roles in this May, the UAE launched a national strategy for Islamic finance and halal industry development. The plan sets out to create an integrated ecosystem for Islamic financial activities, including banking, Takaful (Islamic insurance), Sukuk (Islamic bonds), and non-banking financial services—aligned with international best practices and to February data from the Central Bank of the UAE, Islamic banks now account for approximately 18% of total banking assets and 22.8% of total credit within the national banking Islamic Sukuk market, in particular, has expanded significantly. Notably, the federal government launch of the dirham-denominated Islamic Treasury Sukuk (T-Sukuk) in 2023, signalling a new era for the UAE is now recognised as one of the world's largest Sukuk listing centres. As of May, Sukuk listed on Nasdaq Dubai exceeded $95.7 billion, reinforcing the country's position as a global hub for Sharia-compliant fixed-income 2023, the country was ranked fourth globally in Islamic financial markets by assets, according to the 2023 Islamic Finance Development Indicator based on total Saleh, Director-General of the UAE Banks Federation (UBF), noted that the strategy outlines ambitious goals to elevate the Islamic economy's role both domestically, regionally, and statements to the Emirates News Agency (WAM), Saleh highlighted the UAE's successful development of financial systems that have empowered the Islamic banking sector as part of the nation's broader diversification pointed to significant strides in Islamic banking, Sukuk issuance, and broader Sharia-compliant also noted the sector's impressive growth trajectory. As of February 2025, total credit granted by Islamic banks reached AED503.5 billion, a 16% year-on-year increase. Private sector credit alone stood at AED350.4 billion, growing 13.2% deposits at Islamic banks surged to AED595.3 billion, marking an annual growth rate of 16.9%.Parallel to its financial achievements, the UAE is asserting itself as a global halal industry hub. Under the newly approved national strategy, the UAE aims to increase halal exports from AED74 billion to AED315 billion by 2031, leveraging its strategic location and world-class Lootah, Chairman of the UAE Food and Beverage Manufacturers Group, in statements to WAM, said that the strategy is a landmark step toward establishing the UAE as a global halal production highlighted growing local manufacturer interest in expanding into this vital sector, particularly as global demand for halal products to a report by Bonafide Research on the halal food and beverage market in the UAE, the market size is projected to exceed $31.27 billion by 2029. This growth reflects the increasing demand for halal-certified products, both within the country and globally, as consumers become more conscious of dietary and ethical standards. The UAE's strategic location as a global trade and tourism hub plays a key role in driving this expansion. Its position enhances the country's appeal to both local and international consumers seeking trusted halal-certified goods, reinforcing the UAE's reputation as a leading centre for halal commerce.
Zawya
a day ago
- Zawya
Qatar: QSE index achieves 0.52pct gains since start of 2025
Doha: The Qatar Stock Exchange (QSE) index ended trading this week in the green, up 0.65 percent, despite yesterday's session's 0.81 percent decline, reaching 10,626 points. Investment manager at Qatar Securities Company (QS) Ramzi Qasmieh told Qatar News Agency (QNA) that the index's gains since the beginning of the year have reached 0.52 percent, with the telecommunications and transportation sectors leading the way with increases of 19.2 percent and 12.7 percent, respectively. He indicated that the decline in the QSE index during today's session was slower than that of neighboring markets, noting that the three sessions following the Eid holiday witnessed an improvement in liquidity, which averaged approximately QR467m, highlighting that foreign portfolios targeted leading stocks. In this context, he pointed out that the market is awaiting the implementation of the FTSE review results next week, which are expected to witness healthy trading. He noted that a number of stocks have reached their highest levels in more than a year. For example, Nakilat's stock reached its highest level in nearly 19 years, while Commercial Bank, Doha Bank, and Medicare are all near their highest prices since the beginning of 2025. Analyzing sector performance this week, Qasmieh noted that the transportation sector recorded gains of 0.22 percent, while the real estate sector witnessed a decline of 1.55 percent. The Qatar Stock Exchange general index closed yesterday's trading lower by 86.85 points, or 0.81 percent, to close at 10,626.50 points. During the session, 205,251,398 shares, valued at QR451,108,161.579, were traded in 24,208 transactions across all sectors. Shares of five companies rose, while 45 companies saw a decline in their share price and three firms maintained their previous closing price. Market capitalization at the end of the trading session amounted to QR627,072,464,180.596, compared to QR631,714,037,446.621 in the previous session. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
