The Qatar Stock Exchange (QSE) Monday opened year 2023 on a positive note with its key index gaining 153 points and market capitalisation adding more than QR8bn.
A higher than average demand, especially in the consumer goods, telecom and banking counters, led the 20-stock Qatar Index to surge 1.44% to 10.834.4 points.
The Gulf institutions were seen increasingly into net buying in the market, which otherwise touched an intraday low of 10,670 points.
The foreign funds’ weakened net selling had its influence on the main bourse, whose capitalisation saw QR8.47bn or 1.39% increase to QR616.89bn, mainly led by midcap segments.
About 64% of the traded constituents extended gains in the main market, which saw a total of 0.13mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.36mn changed hands across 25 deals.
The Arab individuals were also seen increasingly into net buying in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.
Trade turnover declined amidst higher volumes in the main market.
The Total Return Index gained 1.44%, the All Share Index by 1.39% and the Al Rayan Islamic Index (Price) by 0.79%.
The consumer goods and services sector index shot up 2.37%, telecom (2.2%), banks and financial services (1.84%), industrials (0.96%), insurance (0.5%) and real estate (0.36%); while transport declined 1.2%.
Major movers in the main market included Qatar General Insurance and Reinsurance, Al Khaleej Takaful, Zad Holding, Qatar Industrial Manufacturing, Qatar Islamic Bank, QNB, Commercial Bank, Woqod, Industries Qatar, Aamal Company, Gulf International Services, Estithmar Holding, Mazaya Qatar, Barwa and Ooredoo.
Nevertheless, QLM, Milaha, Mesaieed Petrochemical Holding, Doha Insurance and Medicare Group were among the losers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
The Gulf institutions’ net buying increased noticeably to QR20.9mn compared to QR17.62mn on December 29.
The Arab individuals’ net buying expanded perceptibly to QR8.89mn against QR2.75mn the previous trading day.
The foreign institutions’ net selling weakened significantly to QR0.85mn compared to QR30.65mn last Thursday.
However, the domestic funds turned net sellers to the tune of QR20.74mn against net buyers of QR9.91mnn on December 29.
The local retail investors’ net selling expanded markedly to QR6.66mn compared to QR1mn the previous trading day.
The foreign individuals were net sellers to the extent of QR1.26mn against net buyers of QR0.38mn last Thursday.
The Gulf retail investors turned net profit takers to the tune of QR0.26mn compared with net buyers of QR0.87mn on December 29.
The Arab institutions had no major net exposure against net buyers to the tune of QR0.12mn the previous trading day.
The main market saw an 8% jump in trade volume to 76.22mn shares but on 21% decline in value to QR261.47mn amidst 6% jump in deals to 9,871.
In the junior bourse, a total of 0.05mn equities valued at QR0.07mn traded across six transactions.