Qatar Stock Exchange records best monthly return in July
The GCC markets monthly report released by Kamco Invest highlighted the exemplary performance by the Qatar Stock Exchange (QSE) as it registered a gain of 8.8 percent in July followed by Dubai and Kuwait with gains of 7 percent and 3.2 percent respectively. It was further noted that these gains were recorded after 5 consecutive months of declines this year.
The 8.4 percent gain observed in the Qatar All Share Index indicated an investor interest in all market segments with all sectors getting the green light in the sector performance chart reflecting solid gains.
Widam Food Company topped the month stock performance chart recording a gain of 34.4 percent followed by Qatar Oman for Investment and Qatar Islamic Bank with gains of 24.7 percent and 19.4 percent respectively.
Looking at places that recorded a decline, Qatar General and Reinsurance topped the chart with a decline of 12.3 percent followed by Zad Holding and Dlala Brokerage and Investment Holding with declines of 2.9 percent and 2.7 percent respectively.
The report also stated the trading activity for the month, noting that total volume of shares traded during the month increased by 20.7 percent to 4.1 billion shares while value traded increased by 7.5 percent to reach QAR 9.9 billion during July, 2023
The report also indicated that there was a positive performance in all GCC equity markets in July 2023 due to the 3.3 percent increase in the aggregate MSCI GCC index.
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