The Qatar Stock Exchange Wednesday gained about 59 points, mainly on the back of strong buying interests of the Gulf institutions.
The banks, consumer goods and insurance counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.56% to 10,449.93 points, reflecting the investors’ expectations on the 2022 corporate results.
The market, which although was skewed towards shakers, saw its key barometer recover from intraday low of 10,347 points.
The foreign funds were increasingly net buyers in the main market, whose year-to-date losses truncated to 2.16%.
The Gulf retail investors turned bullish in the main bourse, whose capitalisation however saw QR2.58bn or 0.44% dip to QR581.93bn, mainly led by midcap segments.
The Arab institutions were seen net buyers in the main market, which saw a total of 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.2mn changed hands across 10 deals.
The Arab individuals’ weakened net selling had is influence in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen gaining slower than the main index in the main market, which saw no trading of treasury bills.
The Total Return Index rose 1.14%, Al Rayan Islamic Index (Price) by 0.8% and |All Share Index by 1.16% in the main bourse, whose trade turnover volumes were on the increase.
The banks and financial services sector index shot up 2.9%, consumer goods and services (1.49%), insurance (1.47%) and telecom (0.05%); while transport plummeted 3.02%, industrials (1.04%) and real estate (0.89%).
Major gainers in the main market included Qatar Islamic Bank, Commercial Bank, Gulf Warehousing, Woqod, Qatar Islamic Insurance, QIIB, Qatar National Cement, Qamco and Mesaieed Petrochemical Holding. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.
Nevertheless, more than 54% of the traded constituents were in the red with major shakers being Qatar General Insurance and Reinsurance, Dlala, Qatari German Medical Devices, Lesha Bank, Mazaya Qatar, Industries Qatar, Aamal Company, Mannai Corporation, Ezdan, Nakilat and Milaha in the main market.
The Gulf institutions’ net buying expanded significantly to QR334.27mn compared to QR9.84mn on February 13.
The foreign funds’ net buying increased perceptibly to QR16.19mn against QR14.56mn the previous day.
The Gulf retail investors turned net buyers to the tune of QR1.33mn compared with net sellers of QR0.2mn on Monday.
The Arab institutions were net buyers to the extent of QR0.04mn against net profit takers of QR0.19mn on February 13.
The Arab individuals’ net selling shrank marginally to QR8.86mn compared to QR10.79mn the previous day.
However, the domestic funds’ net profit booking grew considerably to QR32.13mn against QR9.22mn on Monday.
The local individuals’ net selling strengthened noticeably to QR6.45mn compared to QR3.48mn on February 13.
The foreign individuals’ net profit booking shot up markedly to QR4.39mn against QR0.52mn the previous day.
The main market saw a 47% jump in trade volumes to 163.98mn shares, 55% in value to QR632.72mn and 41% in deals to 24,101.
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