The Qatar Stock Exchange (QSE) yesterday bucked a general selling trend in the Gulf regional markets as it gained as much as 224 points in key index and QR13bn in capitalisation.
Snapping seven days of a bearish run, the 20-stock Qatar Index shot up 2.12% to 10,810.7 points on an across-the-board buying, particularly at the banking and industrials counters. The market touched an intraday high of 10,902 points.
About 71% of the traded constituents extended gains to investors in the main market, which was back in black year-to-date with gains at 1.21%.
Foreign institutions turned net buyers in the main bourse, whose capitalisation saw QR12.83bn or 2.13% increase to QR614.26bn, mainly led by large and midcap segments.
Both foreign and Gulf retail investors were seen net buyers, albeit at lower levels, in the main market, which saw a total of 0.01mn exchange traded funds (sponsored by Masraf Al Rayan Bank) valued at QR0.02mn changed hands across nine deals.
Nevertheless, Qatari individuals were net profit takers 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.
The Total Return Index zoomed 2.12%, the All Share Index by 2.16% and the Al Rayan Islamic Index (Price) by 1.31% in the main bourse, whose trade turnover volumes were on the decline.
The banks and financial services sector index soared 2.94%, industrials (2.14%), telecom (2.09%), consumer goods and services (0.53%), transport (0.31%), insurance (0.2%) and real estate (0.17%).
Major gainers in the main market included QNB, Industries Qatar, Ooredoo, Qatar Islamic Bank, Gulf International services, QLM, Qatar General Insurance and Reinsurance, Mekdam Holding, QIIB, Alijarah Holding and Mannai Corporation.
Nevertheless, Widam Food, Gulf Warehousing, Medicare Group, Doha Insurance and United Development Company were among the losers in the main market.
The foreign institutions turned net buyers to the tune of QR61.87mn compared with net sellers of QR2.52mn on January 18.
The foreign retail investors were net buyers to the extent of QR0.96mn against net sellers of QR0.93mn on Wednesday.
The Gulf individuals turned net buyers to the tune of QR0.89mn compared with net profit takers of QR0.06mn the previous day.
The domestic institutions’ net selling weakened perceptibly to QR11.37mn against QR17.7mn on January 18.
However, Qatari individuals were net sellers to the extent of QR39.36mn compared with net buyers of QR22.82mn on Wednesday.
The Gulf institutions’ net profit booking expanded noticeably to QR10.33mn against QR8.46mn the previous day. The Arab individuals turned net profit takers to the tune of QR2.65mn compared with net buyers of QR6.96mn on January 18.
The Arab institutions had no major net exposure against net profit takers to the extent of QR0.11mn on Wednesday.
The main market saw a 48% surge in trade volumes to 176.6mn shares, 33% in value to QR651.39mn and 32% in deals to 24,636.
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