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The Gulf institutions turned bullish as the 20-stock Qatar Index settled 0.39% higher at 11,153.64 points, reflecting the overall mood in the global market in expectations of slower US Federal Reserve rate hikes.
The QSE was seen recovering from an intraday low of 11,089 points, as it had a rollercoaster drive through the session.
The Gulf retail investors were seen net buyers, albeit at lower levels, in the main market, whose year-to-date gains strengthened to 4.42%.
The domestic funds’ weakened net selling had its influence in the main bourse, whose capitalisation saw QR2.51bn or 0.4% jump to QR632.85bn, mainly led by small and microcap segments.
The foreign institutions continued to be net buyers but with lesser intensity in the main market, which saw a total of 0.08mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.66mn changed hands across 36 deals.
The winners outnumbered losers by a thin margin 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 rose 0.39%, All Share Index by 0.42% and Al Rayan Islamic Index (Price) by 0.13% in the main bourse, whose trade turnover and volumes were on the decline.
The banks and financial services sector index gained 0.62%, transport (0.62%), telecom (0.6%) and industrials (0.34%); while insurance declined 0.91%, real estate (0.41%) and consumer goods and services (0.14%).
Major shakers in the main market included QLM, Commercial Bank, Gulf International Services, Qamco, Al Khaleej Takaful, Qatar Industrial Manufacturing and Nakilat.
Nevertheless, Widam Food, Mekdam Holding, Qatar Insurance, Gulf Warehousing, Dlala, Estithmar Holding, Barwa and Gulf Warehousing 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 turned net buyers to the tune of QR23.74mn compared with net sellers of QR27.58mn on January 26.
The Gulf individuals were net buyers to the extent of QR0.06mn against net sellers of QR1.12mn the previous trading day.
The domestic funds’ net profit booking decreased substantially to QR10.2mn compared to QR44.69mn last Thursday.
However, the local retail investors turned net sellers to the tune of QR13.72mn against net buyers of QR10.57mn on January 26.
The foreign individuals were net sellers to the extent of QR10.89mn compared with net buyers of QR3.2mn the previous trading day.
The foreign institutions’ net buying decreased significantly to QR10.89mn against QR56.7mn last Thursday.
The Arab retail investors’ net buying shrank perceptibly to QR0.09mn compared to QR2.65mn on January 26.
The Arab institutions’ net buying eased marginally to QR0.02mn against QR0.27mn the previous trading day.
The main market saw a 25% contraction in trade volumes to 95.36mn shares, 39% in value to QR292.06mn and 22% in deals to 10,319.