The foreign institutions’ increased net buying yesterday lifted the Qatar Stock Exchange by 28 points and its key index breached the 10,700 levels.
Ahead of the Federal Reserve chair Jerome Powell’s testimony before the Senate Banking Committee, the 20-stock Qatar Index rose 0.26% to 10,722.57 points, on the back of consumer goods and banking sectors.
The market, which was marginally skewed towards gainers, regained from an intraday low of 10,697 points.
The Arab individual investors were increasingly net buyers in the main market, whose year-to-date gains improved to 0.39%.
The Gulf individual investors were seen bullish in the main bourse, whose capitalisation saw QR2.23bn or 0.36% jump to QR619.67bn, mainly on account of midcap segments.
The domestic institutions’ weakened net selling had its influence in the main market, which saw a total of 0.14mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.44mn changed hands across 14 deals.
However, the local retail investors’ net selling pressure intensified in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen declining vis-à-vis gains in the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index rose 0.26% and the All Share Index by 0.42%, while Al Rayan Islamic Index (Price) shrank 0.35% in the main bourse, whose trade turnover fell amid higher volumes.
The consumer goods and services sector index gained 1.56% and consumer goods and services (0.93%); while telecom declined 2.57%, insurance (0.64%), realty (0.48%), transport (0.1%) and industrials (0.09%).
Major gainers in the main market included Beema, Zad Holding, Al Meera Consumer Goods, Salam International Investment, Qatar Cinema and Film Distribution, QNB and Mazaya Qatar.
In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.
Nevertheless, Qatar General Insurance and Reinsurance, Qatari Investors Group, Ooredoo, United Development Company, Dlala, Lesha Bank, Qatar National Cement, Gulf International Services and Barwa were among the losers in the main market.
The foreign institutions’ net buying increased substantially to QR34.94mn compared to QR6.39mn on March 6.
The Arab individual investors’ net buying strengthened noticeably to QR7.76mn against QR3.5mn the previous day.
The Gulf retail investors turned net buyers to the tune of QR1.39mn compared with net sellers of QR0.48mn on Monday.
The domestic funds’ net profit booking weakened perceptibly to QR20.23mn against QR28.83mn on March 6.
However, the local retail investors’ net selling expanded considerably to QR18.15mn compared to QR0.33mn the previous day. The Gulf institutions’ net buying decreased markedly to QR8.06mn against QR15.76mn on Monday.
The foreign retail investors’ net buying eased notably to QR1.76mn compared to QR4.01mn on March 6.
The Arab institutions continued to have no major net exposure for the fourth straight session.
The main market saw a 5% jump in trade volumes to 153.94mn shares but on 3% fall in value to QR400.39mn and 11% in deals to 13,002.
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