An across the board buying – especially in the telecom, banks, insurance and consumer goods – on Sunday lifted the Qatar Stock Exchange by 120 points and its key index surpassed 10,100 levels.
The domestic institutions were seen net buyers as the 20-stock Qatar Index soared 1.2% to 10,126.18 points.
The market, which was skewed towards gainers, was seen recovering from intraday low of 9,979 points.
The foreign funds’ weakened net selling had its influence in the main market, whose year-to-date losses narrowed further to 5.2%.
A three-fourth of the traded constituents extended gains in the main bourse, whose capitalisation was seen expanding QR8.94bn or 1.54% to QR589.34n, mainly on account of large and midcap segments.
The Gulf individuals’ lower net selling pressure also had its role in the main market, which saw a total of 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.17mn changed hands across eight deals.
However, the domestic funds turned 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 1.2%, All Share Index by 1.34% and Al Rayan Islamic Index (Price) by 0.99% in the main bourse, whose trade turnover fell amidst higher volumes.
The telecom sector index shot up 2.09%, banks and financial services (1.86%), insurance (1.59%), consumer goods and services (1.4%), real estate (0.82%) and industrials (0.37%); while transport was down 0.04%.
Major gainers in the main market included Beema, Estithmar Holding, Lesha Bank, Dlala, Ezdan, QNB, Qatar Islamic Bank, Dukhan Bank, Qatari German Medical Devices, Salam International Investment, Baladna, Qamco, Qatar Insurance, Al Khaleej Takaful, Mazaya Qatar and Ooredoo.
Nevertheless, QLM, Medicare Group, Inma Holding, Aamal Company, Masraf Al Rayan and Industries Qatar were among the losers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
The local retail investors turned net buyers to the tune of QR34.94mn compared with net sellers of QR11.41mn on March 23.
The foreign institutions’ net profit booking shrank noticeably to QR8.74mn against QR19.39mn the previous trading day.
The Gulf individual investors’ net selling declined perceptibly to QR0.41mn compared to QR1.16mn last Thursday.
However, the domestic institutions were net sellers to the extent of QR15mn against net buyers of QR31.71mn on March 23.
The Arab individuals’ net selling strengthened notably to QR7.4mn compared to QR4.1mn the previous trading day.
The foreign retail investors’ net profit booking expanded markedly to QR3.98mn against QR0.59mn the last Thursday.
The Arab institutions’ net selling increased marginally to QR0.77mn compared to QR0.33mn on March 23.
The Gulf institutions’ net buying weakened considerably to QR1.35mn against QR5.28mn the previous trading day.
In the main market, trade volumes grew 26% to 177.27mn shares, while value shrank 19% to QR346.93mn and deals by 30% to 10,796.