Qatari stocks have continued their impressive performance March and in the first quarter of this year.
The QE Index has gained around 600 points or 4.5 percent after the index closed at 13,533 points on Thursday.
This monthly rise helped the QE Index to end the first quarter (Q1) of this year with a gain of over 1,900 points or 16 percent.
Also, net profit of all QSE listed companies have increased 41 percent to QR43.28bn in 2021 compared to QR30.68bn in 2020, according to the statement by the Qatar Stock Exchange posted on its website.
March proved a good month for Qatari stocks as the QE Index had started the month at 12949 points and ended at 13533 points, yesterday, recording a monthly gain of 584 points. Comparing to closing of QE Index at 11,625 points on December 30 last year, the quarterly rise is 1908 points.
Even February was a positive month for the stock market investors. The QE Index recorded a gain of 450 points as the index had closed at 12498 on January 31 this year compared to 12949 points on February 28.
Of all the months this year, January gave the best monthly gains to investors. The QE Index had surged over 800 points in January this year making it the best monthly gain in over a decade for investors. The QE Index had ended at 12,498 points on January 31 against the closing of 11,625 points on December 30 last year, marking a monthly gain of 873 points or 7.5 percent- which was the highest ever monthly rise in over 10 years.
The sentiments in the local bourse have been boosted by the strong recovery in Qatar’s economy helped by persistent fall in omicron cases, rise oil prices, gains in regional and global stock markets and better results from local companies. The ongoing geopolitical tensions have pushed up the oil and gas prices to multi-year a high which has worked in favor of local companies.
The Qatari stocks were not able to maintain their rising spree last week. The index has lost 0.72 percent this week, declining around 99 points to close at 13533. The total market capitalisation of the market reached QR760.8bn, showing a decline of 1.2 percent compared to the previous week. Total trading value this week was QR3.86bn, while the volume was 1.145 million shares.
The last two weeks were not good for the stock market. The index declined by 235.43 points or 1.73 percent during the second week to close at 13,397.6. Market capitalization went down by 1.40 percent to QR757.9bn as compared to QR768.6bn at the end of the previous week.
The volume of shares traded yesterday increased to 207 million from 204.7 million on Wednesday and the value of shares increased to QR800.87m from QR661.967m on Wednesday.
The indices of two sectors ended in green zone and five sectors ended red zone yesterday. QSE Total Return Index dropped 0.18 percent 27,612.05, QSE Al Rayan Islamic index decreased 0.49 percent to 5,521.38 points and QSE All Share Index down 0.21 percent 4,331.92 points.
The QE Index declined 0.6 percent to close at 13,557 on Wednesday. The Industrials and Real Estate indices led the losses. The index fell on the back of selling pressure from Qatari and Arab shareholders despite buying support from GCC and foreign shareholders.
Among the top gainers, Al Khaleej Takaful Insurance Co. gained 10 percent, while Zad Holding Company was up 8.8 percent.
Volume of shares traded on Wednesday fell by 12.7 percent to 204.7mn from 234.4mn
on Tuesday.
