QSE breaches 10,000 level on domestic funds’ buying support

The Qatar Stock Exchange on Thursday gained more than 26 points to cross the 10,000 levels, mainly led by industrials, telecom and banking sectors.
The domestic institutions were seen net buyers as the 20-stock Qatar Index rose 0.26% to 10,006.2 points.
The market, which was skewed towards gainers, was seen recovering from intraday low of 9,899 points.
The foreign funds’ weakened net selling had its influence in the main market, whose year-to-date losses narrowed further to 6.32%.
More than 51% of the traded constituents extended gains in the main bourse, whose capitalisation was seen expanding QR2.52bn or 0.44% to QR580.4bn, mainly on account of small and microcap segments.
The foreign individuals’ lower net selling pressure had its role in the main market, which saw a total of 0.06mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.19mn changed hands across eight deals.
However, local retail investors were increasingly net profit takers 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 0.26%, the All Share Index by 0.29% and the Al Rayan Islamic Index (Price) by 0.18% in the main bourse, whose trade turnover and volumes were on the decline.
The industrials sector grew 0.64%, telecom (0.43%), banks and financial services (0.34%) and consumer goods and services (0.04%); while insurance declined 0.88%, transport (0.36%) and real estate (0.12%).
Major gainers in the main market included Qatar General Insurance and Reinsurance, Qatari German Medical Devices, Estithmar Holding, Qatar Industrial Manufacturing, Widam food, Dukhan Bank, Qatar Electricity and Water and Ezdan.
Nevertheless, Dlala, QLM, Gulf Warehousing, Gulf International Services and Qatar Insurance were among the losers in the main market.
The domestic institutions turned net buyers to the tune of QR31.71mn against net sellers of QR0.92mn on March 22.
The foreign institutions’ net profit booking eased perceptibly to QR109.39mn compared to QR21.04mn on Wednesday.
The foreign retail investors’ net selling weakened noticeably to QR0.59mn against QR4.56mn the previous day.
However, the local retail investors’ net selling expanded markedly to QR11.41mn compared to QR4.19mn on March 22.
The Arab individuals’ net profit booking strengthened considerably to QR4.1mn against QR2.27mn on Wednesday.
The Gulf individual investors’ net selling expanded notably to QR1.16mn compared to QR0.09mn the previous day.
The Arab institutions’ net profit booking increased marginally to QR0.33mn against QR0.2mn on March 22.
The Gulf institutions’ net buying declined drastically to QR5.28mn compared to QR33.27mn on Wednesday.
In the main market, trade volumes shrank 20% to 140.78mn shares, value by 21% to QR428.04mn and deals by 22% to 15,370.