The Qatar Stock Exchange (QSE) Tuesday snapped three days of bearish run and its key index gained more than 170 points and capitalisation added QR10bn as the country’s bellwether QatarEnergy entered into a pact to supply liquefied natural gas to Germany for the next 15 years.
The banking and industrials counters saw higher than average demand as the 20-stock Qatar Index vaulted 1.46% to 11,799.9 points, but recovering from an intraday low of 11,642 points.
The foreign institutions were seen bullish in the market, whose year-to-date gains improved to 1.5%.
More than 73% of the traded constituents extended gains in the main bourse, whose capitalisation saw QR9.85bn or 1.51% jump to QR661.39bn, mainly on large and midcaps.
The Islamic index gained slower than the other indices in the main market, which saw a total of 0.18mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.57mn changed hands across 19 deals.
Trade turnover and volumes were on the increase in the main and venture markets.
The Arab individuals were net buyers, albeit at lower levels, in the main bourse, which saw no trading of sovereign bonds.
The foreign retail investors’ weakened net selling had its influence in the main market, which saw no trading of treasury bills.
The Total Return Index shrank 1.46%, All Share Index by 1.43% and Al Rayan Islamic Index (Price) by 1.01%.
The industrials sector index zoomed 1.86%, banks and financial services (1.76%), insurance (1.38%), consumer goods and services (0.7%), real estate (0.16%) and telecom (0.15%); while transport declined 0.28%.
Major gainers in the main market included Mesaieed Petrochemical Holding, Estithmar Holding, Industries Qatar, Aamal Company, Ooredoo, QLM, Mannai Corporation, Qatar National Cement, Zad Holding, QNB and Commercial Bank. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value.
Nevertheless, Vodafone Qatar, Inma Holding, Qatar Cinema and Film Distribution, Widam Food and Dlala were among the losers in the main market.
The foreign institutions turned net buyers to the tune of QR41.56mn against net sellers of QR15.08mn on November 28.
The Arab retail investors turned net buyers to the tune of QR0.48mn compared with net sellers of QR3.28mn on Monday.
The foreign individuals’ net selling declined noticeably to QR2.33mn against QR4.16mn the previous day.
However, the domestic funds were net sellers to the extent of QR34.02mn compared with net buyers of QR12mn on November 28.
The local retail investors turned net sellers to the tune of QR2.41mn against net buyers of QR10.4mn on Monday.
The Gulf individuals’ net profit booking expanded noticeably to QR2.02mn compared to QR0.39mn the previous day.
The Gulf institutions were net sellers to the extent of QR1.26mn against net buyers of QR0.5mn on November 28.
The Arab institutions turned net profit takers to the tune of QR0.01mn compared with net buyers of QR0.08mn on Monday.
Total trade volume in the main market fell 4% to 99.92mn shares, value by 19% to QR395.95mn and deals by 21% to 16,773.
The venture market saw 73% contraction in trade volumes to 0.04mn equities, 64% in value to QR0.34mn and 63% in transactions to 32.
