QSE ends four-day bearish phase as index gains 57 points on Gulf funds’ buying support

The Qatar Stock Exchange Monday ended four days of bearish run and its key index gained 57 points to settle above 10,700 levels as the Gulf institutions were seen increasingly into net buying.
A higher than average demand in the realty, insurance and industrials counters led the 20-stock Qatar Index gain 0.53% to 10,711.48 points with investors expecting better 2022 corporate results for certain underlying scrips and in view of strong macroeconomic outlook.
The market, which was highly skewed towards movers, however recovered from an intraday low of 10,603 points.
The Arab retail investors were seen net buyers in the main market, which reported 0.85% gains on a year-to-date basis.
About 64% of the traded constituents extended gains in the main bourse, whose capitalisation saw QR0.98bn or 0.16% increase to QR606.96bn, mainly led by small and microcap segments.
The foreign institutions’ weakened net profit booking also had its influence in the main market, which saw a total of 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.06mn changed hands across five deals.
The Arab institutions were seen net buyers, albeit at lower levels, in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen gaining relatively faster than the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index rose 0.53%, Al Rayan Islamic Index (Price) by 0.54% and All Share Index by 0.2% in the main bourse, whose trade turnover grew amidst lower volumes.
The real estate sector index shot up 2.04%, insurance (1.8%), industrials (1.56%) and consumer goods and services (0.52%); whereas telecom declined 0.67%, banks and financial services (0.48%) and transport (0.29%).
Major gainers in the main market included Inma Holding, Qatari Investors Group, Al Khaleej Takaful, Barwa, Qatar Insurance, Commercial Bank, Masraf Al Rayan, Dlala, Qatari German Medical Devices, Industries Qatar, Qamco and Ezdan. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.
Nevertheless, Doha Insurance, Qatar Islamic Insurance, QNB, Milaha, Qatar Electricity and Water and United Development Company were among the shakers in the main market.
The Gulf institutions’ net buying expanded considerably to QR22.22mn compared to QR8.54mn on February 5.
The Arab individual investors turned net buyers to the tune of QR4.26mn against net sellers of QR6.89mn the previous day.
The Arab institutions were net buyers to the extent of QR0.02mn compared with net sellers of QR0.37mn on Sunday.
The foreign institutions’ net profit booking weakened marginally to QR12.2mn against QR13.21mn on February 5.
However, the domestic funds were net sellers to the extent of QR7.53mn compared with net buyers of QR0.44mn the previous day.
The local retail investors turned net sellers to the tune of QR4.68mn against net buyers of QR12.15mn on Sunday.
The foreign individuals’ net profit booking strengthened markedly to QR2.15mn compared to QR0.86mn on February 5.
The Gulf individual investors’ net buying eased perceptibly to QR0.07mn against QR0.23mn the previous day.
The main market saw a 6% contraction in trade volumes to 131.47mn shares but on 30% increase in value to QR446.04mn and 61% in deals to 16,747.