US-China trade talks lift Qatar's QSE 12 points; Islamic equities outperform
The US-China trade talks instilled confidence among investors as the Qatar Stock Exchange (QSE) on Sunday opened the week with more than 12 points gains in index; even as capitalisation was rather seen flat.
The local retail investors turned bullish as the 20-stock Qatar Index gained 0.12% to 10,532.25 points, although it touched an intraday high of 10,589 points.
The insurance, real estate, industrials and consumer goods sectors witnessed higher than average demand in the main market, whose year-to-date losses truncated further to 0.37%.
About 53% of the traded constituents extended gains to investors in the main bourse, whose capitalisation however remained rather flat at QR618.62bn amidst buying in microcap segments.
The foreign individuals were increasingly net buyers in the main market, which saw as many as 1,918 exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.02mn trade across six deals.
The Gulf individual investors were also increasingly net buyers in the main bourse, whose trade turnover and volumes were on the decline.
The Islamic index was seen outperforming the other indices of the main market, which saw no trading of treasury bills.
The foreign funds continued to be net buyers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.
The Total Return Index rose 0.12%, the All Islamic Index by 0.35% and the All Share Index by 0.1% in the main market.
The insurance sector index gained 0.56%, realty (0.38%), industrials (0.37%), consumer goods and services (0.31%) and banks and financial services (0.06%); while telecom and transport declined 0.7% and 0.22% respectively.
Major movers in the main bourse included Qatar General Insurance and Reinsurance, Qatar Oman Investment, Lesha Bank, Al Faleh Educational Holding, Baladna, Salam International Investment, Al Mahhar Holding, Vodafone Qatar and Milaha. In the venture market, Techno Q saw its shares appreciate in value.
Nevertheless, Ooredoo, Widam Food, Nakilat, Al Meera and AlRayan Bank were among the shakers in the main market.
The Qatari retail investors turned net buyers to the tune of QR18.23mn compared with net sellers of QR3.38mn last Thursday.
The foreign individual investors' net buying increased noticeably to QR3.98mn against QR0.86mn the previous trading day.
The Gulf retail investors were net buyers to the extent of QR1.38mn compared with net sellers of QR0.44mn on May 8.
The domestic institutions' net profit booking eased marginally to QR37.12mn against QR38.79mn last Thursday.
However, the foreign institutions' net buying weakened substantially to QR6.76mn compared to QR24.26mn the previous trading day.
The Arab individual investors' net buying weakened noticeably to QR4.57mn against QR10.3mn on May 8.
The Gulf institutions' net buying decreased perceptibly to QR2.21mn compared to QR7.19mn last Thursday.
The Arab institutions had no major net exposure for the fourth straight session.
The main market witnessed a 3% fall in trade volumes to 191.06mn shares, 23% in value to QR331.62mn and 49% in deals to 10,502.
In the venture market, a total of 31,828 equities valued at QR0.01mn change hands across 15 transactions.
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
Santhosh V. Perumal
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