QSE witnesses best monthly returns in GCC during June

Doha, Qatar: The Qatar Stock Exchange (QSE) witnessed the best monthly returns in the GCC during June 2024. The QE 20 index soared in almost all sessi...

Doha, Qatar: The Qatar Stock Exchange (QSE) witnessed the best monthly returns in the GCC during June 2024. The QE 20 index soared in almost all sessions this month posting its highest monthly gain this year supported by robust domestic buying, rebound in natural gas prices that strengthened the sentiments in the market.

The benchmark index came close to breaching the psychological mark of 10,000 points but trended slightly downward by the end of the month to close with a gain of 7.0% at 9,967.6 points. The Qatar All Share Index witnessed a gain of 6.4% during the month indicating investor interest across the market segments, noted Kamco Invest report.

The monthly sector performance chart reflected gains for most of the sectors. The Transportation index topped during the month with a double-digit gain of 11.8%, followed by Bank & Financial Services indices and Consumer Goods & Services indices with gains of 6.9% and 6.6%, respectively. On the other hand, the Real Estate Index reported the biggest monthly decline of 3.2% followed by the Insurance index with a small decline of 0.8%.

The monthly stock performance chart was topped with Qatar Gas Transport with a gain of 17.2% followed by Industries Qatar and The Commercial Bank with gains of 11.5% and 10.7%, respectively. On the decliners side, Qatar General Insurance & Reinsurance topped with a decline of 13.4% followed by Mesaieed Petrochemical Holding Co. and United Development with declines of 4.4% and 3.4%, respectively.

In terms of the trading activity, total volume of shares traded during the month declined by 37.1% to 2.6bn shares compared to 4.1bn in May 2024. Value traded also decreased by 30.6% to reach QR8bn during June 2024 compared to QR11.5bn.