The trading activity in Qatar witnessed significant growth during August. Monthly volume traded increased by almost doubled during the month to reach 5.15 billion shares in August 2022 said a report by Kamco Invest.
The monthly volume traded increased by almost doubled during the month to reach 5.15 billion shares in August 2022 as compared to 2.6bn shares during the previous month. On the other hand, monthly value traded also showed strong gains of 102.1 percent to reach QR16.25bn as compared to QR8.04bn during the previous month, according to the GCC markets monthly report.
In terms of monthly volume, Qatar Aluminum Manufacturing topped with 731.7m shares traded during the month followed by Estithmar Holding and Ezdan Holding Group with 724.7m and 511.6m shares traded, respectively. On the monthly value chart, QNB topped with QR1.9bn worth of trades during the month followed by Estithmar Holding and the Commercial Bank at QR1.65bn and QR1.53bn, respectively.
In terms of sector contribution, the banks and financial services sector led trading value during August 2022, accounting for 41.2 percent of the total traded valued, followed by Industrials sector at 37.4 percent and the consumer goods and services sector at 10.6 percent.
The monthly report stated that Qatar’s QE-20 index witnessed marginal gains during August 2022 at 0.4 percent to close the month at 13,425.6 points, while the Qatar All Share Index showed slightly better gain of 0.7 percent during the month. “With the gains in August 2022, the YTD-2022 growth for the QE 20 index reached 7.4 percent while that for the Qatar All Share Index registered a relatively higher growth of 15.1 percent. The sector performance chart for the month showed broad-based gains with all the sectors showing monthly gains, barring the Telecom index and the Banking and Financial services Index showed declines of 2.4 percent and 0.5 percent during the month.”
In terms of monthly sector performance, it noted that the real estate index topped with a gain of 5.3 percent followed by consumer goods & services and industrials indices with gains of 4.3 percent and 2 percent, respectively. Gains for the real estate index was mainly led by the shares of Ezdan Holding Group which was up 28.3 percent during the month followed by 5.2 percent and 5 percent gain in shares of United Development and Mazaya Real Estate Development.
In the Industrial index sector, shares of Industries Qatar, the biggest stock in the sector, reported a gain of 4.13 percent. During the month, Guld International Services and Doha Insurance shares jumped after they started initial negotiations on a potential all-share merger of Al Koot Insurance & Reinsurance company with Doha Insurance.
In the Qatari banking sector, shares of four of eight banks reported declines during August 2022. Prominent gainers included Qatar First Bank (QFB) that gained 12.7 percent followed by 4.1 percent gain in shares of Ahli Bank. Shares of QNB witnessed a marginal gain of 0.6 percent during the month. On other hand, shares of Masraf Al Rayan dropped 1.1 percent followed by 0.7 percent decline in shares of Doha Bank.
The monthly stock performance chart was topped with Qatar German for Medical Devices with a gain of 36.4 percent followed by the Mannai Corporation and Ezdan Holding Group with gains of 30.9 percent and 28.3 percent, respectively.
