The Qatar Stock Exchange Sunday opened the week on a stronger note as its key index gained as much as 75 points despite six of the seven sectors reel under selling pressure.
The foreign institutions were seen increasingly net buyers as the 20-stock Qatar Index rose 0.74% to 10,716.45 points.
The market, which was skewed towards gainers, saw its key barometer touch an intraday high of 10,778 points, especially in the first 30 minutes of opening.
The local retail investors and Arab funds were seen net buyers in the main market, which reported year-to-date gains of 0.33%.
The banks and financial services sector witnessed strong buying in the main bourse, whose capitalisation saw QR6.45bn or 1.09% jump to QR600.48bn, mainly led by mid and small cap segments.
The Gulf individuals’ weakened net profit booking had its influence in the main market, which saw a total of 0.09mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.22mn changed hands across eight deals.
However, the domestic institutions were increasingly net sellers 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 0.7%, Al Rayan Islamic Index (Price) by 0.23% and |All Share Index by 0.92% in the main bourse, whose trade turnover and volumes were on the decline.
The banks and financial services sector index shot up 2.27%; while transport declined 1.12%, telecom (1.02%), consumer goods and services (0.66%), real estate (0.25%) and industrials (0.17%).
More than 52% of the traded constituents extended gains with major gainers being Qatar General Insurance and Reinsurance, Estithmar Holding, Inma Holding, Al Khaleej Takaful, Gulf Warehousing, QNB, Qatar Islamic Bank, Lesha Bank, Qatari German Medical Devices, Mannai Corporation, Widam Food, Aamal Company, Mazaya Qatar and Ezdan. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.
Nevertheless, Qatar Industrial Manufacturing, Doha Insurance, Qatar Insurance, Qatar Oman Investment, Woqod, Gulf International Services, Qamco, Ooredoo and Nakilat were among the losers in the main market.
The foreign institutions’ net buying increased substantially to QR27.87mn compared to QR1.83mn on February 16.
The local individuals were net buyers to the tune of QR4.91mn against net sellers of QR6.82mn the previous trading day.
The Arab institutions turned net buyers to the extent of QR0.22mn compared with sellers of QR0.64mn last Thursday.
The Gulf retail investors’ net profit booking declined perceptibly to QR1.44mn against QR3.44mn on February 16.
However, the domestic funds’ net selling strengthened notably to QR29.09mn compared to QR27.04mn the previous trading day.
The Arab individuals were net profit takers to the tune of QR3.27mn against net buyers of QR11.96mn last Thursday.
The foreign individual investors’ net selling expanded marginally to QR2.94mn compared to QR2.36mn on February 16.
The Gulf institutions’ net buying weakened considerably to QR3.74mn against QR26.52mn the previous trading day.
The main market saw a 33% contraction in trade volumes to 131.82mn shares, 35% in value to QR389.26mn and 38% in deals to 12,728.
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