The Qatar Stock Exchange (QSE) on Sunday opened the week on a stronger note as its key index vaulted 150 points to inch towards 11,300 levels and capitalisation added about QR8bn in view of expected demand recovery in China after the Asian country lifted Covid restrictions.
The industrials sector witnessed higher than average demand as the 20-stock Qatar Index rose 1.37% to 11,297.58 points, recovering from an intraday low of 11,130 points.
The Gulf institutions were seen net buyers in the main market, whose year-to-date gains improved further to 5.77%.
The Arab and foreign individuals turned bullish in the main bourse, whose capitalisation saw QR7.54bn or 1.19% increase to QR639.47bn, mainly led by large and midcap segments.
More than 80% of the traded constituents extended gains in the main market, which saw a total of 1.28mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR3.16mn changed hands across 40 deals.
The local retail investors’ weakened net profit booking pressure had its influence in the main bourse, which saw no trading of sovereign bonds.
The Islamic index gained slower than the main barometer in the main market, which saw no trading of treasury bills.
The Total Return Index shot up 1.37%, All Share Index by 1.21% and Al Rayan Islamic Index (Price) by 1.27% in the main bourse, whose trade turnover and volumes were on the decrease.
The industrials sector index soared 2.26%, banks and financial services (1.13%), consumer goods and services (1.06%), real estate (0.89%), telecom (0.31%) and transport (0.23%); while insurance declined 0.53%.
Major gainers in the main market included Gulf International Services, Qatar Oman Investment, Industries Qatar, Commercial Bank, Mannai Corporation, Masraf Al Rayan, Alijarah Holding, Qatari German Medical Devices, Salam International Investment, Mannai Corporation, Mesaieed Petrochemical Holding, Qamco and Mazaya Qatar. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.
Nevertheless, Qatar General Insurance and Reinsurance, Qatar Insurance, Doha Insurance, Medicare Group, Zad Holding and Gulf Warehousing were among the losers in the main market.
The Gulf institutions turned net buyers to the tune of QR12.16mn compared with net sellers of QR15.75mn on January 5.
The Arab individuals were net buyers to the extent of QR9.8mn against net profit takers of QR7.02mn the previous day.
The foreign retail investors turned net buyers to the tune of QR1.02mn compared with net sellers of QR0.09mn last Thursday.
The domestic funds were net buyers to the extent of QR0.82mn against net profit takers of QR31.6mn on January 5.
The Gulf retail investors turned net buyers to the tune of QR0.51mn compared with net sellers of QR0.3mn the previous day.
The local retail investors’ net profit booking weakened noticeably to QR6.3mn against QR11.73mn last Thursday.
However, the foreign institutions were net sellers to the extent of QR18.01mn compared with net buyers of QR66.49mn on January 5.
The Arab institutions had no major net exposure against net buyers to the tune of QR0.01mn the previous day.
The main market saw a 10% fall in trade volume to 123.8mn shares, 27% in value to QR404.97mn and 30% in deals to 14,179.
