7 days ago
Qatar: QSE gains on local retail investors' buying support; M-cap adds $521mln
Qatar - The banks, telecom and industrials counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.37% to 10,501.25 points, recovering from an intraday low of 10,490 points.
The Qatar Stock Exchange on Sunday opened the week on a stronger note with its key index gaining more than 38 points in index and capitalisation adding about QR2bn.
The banks, telecom and industrials counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.37% to 10,501.25 points, recovering from an intraday low of 10,490 points.
The local retail investors were seen increasingly bullish in the main market, whose year-to-date losses narrowed to 0.66%.
The foreign institutions' weakened net selling had its influence on the main bourse, whose capitalisation added QR1.9bn or 0.31% to QR621.93bn mainly on account of midcap segments.
The domestic funds continued to be net buyers but with lesser intensity in the main market, which saw as many as 0.01mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.04mn trade across eight deals.
The Arab individuals turned net profit takers in the main bourse, whose trade turnover and volumes were on the decline.
The Islamic index was seen gaining slower than the other indices of the main market, which saw no trading of treasury bills.
The Gulf institutions turned net sellers, albeit at lower levels, in the main bourse, which saw no trading of sovereign bonds.
The Total Return Index rose 0.37%, the All Islamic Index by 0.3% and the All Share Index by 0.33% in the main market.
The banks and financial services sector index gained 0.71%, telecom (0.4%), industrials (0.39%) and transport (0.26%); while real estate declined 2.08%, consumer goods and services (0.97%) and insurance (0.91%).
Major movers in the main market included Qatar Islamic Insurance, Milaha, QNB, Vodafone Qatar, Dukhan Bank, QNB and Industries Qatar.
Nevertheless, about 59% of the traded constituents were in the red with major losers in the main bourse being Barwa, Qatar German Medical Devices, Lesha Bank, Dlala, Widam Food, Alijarah Holding, Salam International Investment, Woqod, Baladna, Al Faleh Educational Holding, Al Mahhar Holding, Qatari Investors Group, Qatar National Cement, Gulf International Services, Qatar Insurance and Ezdan.
In the venture market, Techno Q saw its shares depreciate in value.
The local individual investors' net buying increased substantially to QR14.38mn compared to QR1.8mn last Thursday.
The foreign institutions' net selling decreased considerably to QR19.25mn against QR215.72mn the previous trading day.
The Gulf retail investors' net profit booking shrank noticeably to QR0.91mn compared to QR3.32mn on May 29.
However, the Arab individuals turned net sellers to the tune of QR2.11mn against net buyers of QR11.08mn last Thursday.
The Gulf funds were net sellers to the extent of QR0.16mn compared with net buyers of QR0.23mn the previous trading day.
The domestic institutions' net buying weakened drastically to QR5.98mn against QR201.69mn on May 29.
The foreign individual investors' net buying decreased notably to QR2.06mn compared to QR4.2mn last Thursday.
The Arab institutions' net buying eased marginally to QR0.01mn against QR0.03mn the previous trading day.
The main market saw a 54% plunge in trade volumes to 142.5mn shares, 78% in value to QR316.13mn and 48% in deals to 15,745.
In the venture market, as many as 4,735 equities valued at mere QR0.01mn changed hands across four transactions.
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