DOHA: The Qatar Stock Exchange (QSE) recorded a marginal gain during August 2024, in line with most markets in the GCC. The QE 20 index closed the month at 10,203 points registering a monthly gain of 0.5 percent.

The Qatar All Share Index witnessed slightly better performance and registered a monthly gain of 1.2 percent during August indicating investor interest across the broader market segments.

Contrary to the headline index, the monthly sector performance chart reflected gains for most of the sectors. The telecoms index topped during the month with a gain of 5.7 percent, followed by Insurance and banks and financial services indices with gains of 3.8 percent and 1.6 percent, respectively. On the decliner’s side, the transportation Index witnessed the biggest decline of 0.8 percent during the month followed by real estate with declines of 0.1 percent, according to a report by Kamco Invest.

During the month, both the constituents in telecoms sector, Ooredoo and Vodafone Qatar, reported gains of 5.5 percent and 6.4 percent, respectively. Gains for the insurance sector was mainly led by shares of Qatar General Insurance & Reinsurance Co. and QLM Life & Medical Insurance Co. which were up by 24.8 percent and 10 percent, respectively.

Within the consumer & goods sector, shares of Al Faleh Educational Holding reported a double-digit gain of 26.3 percent followed by Salam International Investment with 2.9 percent, respectively. In the banks and financial services sector, shares of four out of nine banks reported declines during the month barring Qatar National Bank and Doha Bank which reported gains of 3.6 percent and 5.4 percent, respectively.

In the transportation sector, most of the constituent stocks declined with shares of Qatar Navigation leading with a decline of 1.7 percent during August-2024.

The monthly gainer’s chart was topped by Al Faleh Educational Holding with a gain of 26.3 percent followed by Qatar General Insurance & Reinsurance and QLM Life & Medical Insurance Co. with gains of 24.8 percent and 10 percent, respectively.

Total volume of shares traded declined by 10 percent to reach 2.7 billion shares as compared to 3 billion shares in the previous month. In terms of value traded, the decline was at 17.7 percent reaching QR6.9bn in August 2024 as compared to QR8.4bn in July-2024. Mazaya Real Estate Development topped the monthly volume chart with 272.1 million traded shares followed by Qatar Aluminum Manufacturing Co. and Masraf Al Rayan at 266.2 million shares and 164.7 million traded shares, respectively.