(MENAFN) In June 2024, the Qatar Stock Exchange (QSE) experienced remarkable performance, achieving the highest monthly returns among Gulf Cooperation Council (GCC) markets. The QE 20 index demonstrated impressive upward momentum throughout the month, culminating in its most significant monthly gain of the year. This surge was largely attributed to strong domestic buying activity and a rebound in natural gas prices, which bolstered overall market sentiment.

While the benchmark index approached the psychological threshold of 10,000 points, it ultimately experienced a slight decline as the month closed, finishing with a solid gain of 7.0 percent at 9,967.6 points. Additionally, the Qatar All Share Index recorded an increase of 6.4 percent, reflecting broad investor interest across various market segments, as highlighted in a report by Kamco Invest.

The sector performance for June showcased positive trends for most categories, with the Transportation index leading the way, achieving a remarkable double-digit gain of 11.8 percent. Following closely behind were the Bank & Financial Services indices and Consumer Goods & Services indices, which posted gains of 6.9 percent and 6.6 percent, respectively. In contrast, the Real Estate Index faced challenges, reporting the largest monthly decline at 3.2 percent, accompanied by a modest drop of 0.8 percent in the Insurance index.

Examining individual stock performance, Qatar Gas Transport emerged as the standout performer, recording an impressive gain of 17.2 percent. Industries Qatar and The Commercial Bank also performed well, achieving gains of 11.5 percent and 10.7 percent, respectively. On the downside, Qatar General Insurance & Reinsurance topped the list of decliners with a significant drop of 13.4 percent. Mesaieed Petrochemical Holding Co. and United Development followed with declines of 4.4 percent and 3.4 percent, respectively.

In terms of trading activity, June saw a notable decrease in the total volume of shares traded, which fell by 37.1 percent to 2.6 billion shares, down from 4.1 billion in May. Additionally, the value of traded shares also decreased by 30.6 percent, reaching QR8 billion in June compared to QR11.5 billion the previous month.

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