The Qatar Stock Exchange Tuesday remained bullish for the 10th straight session as its key index gained more than 31 points, mainly on the back of strong buying interests from the Gulf institutions.
The real estate, insurance, transport, consumer goods and industrials counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.29% to 10,747 points.
The market, which was skewed towards movers, regained from an intraday low of 10,660 points.
The Arab retail investors turned net buyers in the main market, whose year-to-date gains improved to 0.62%.
The foreign individuals were also seen bullish in the main bourse, whose capitalisation added QR2.56bn or 0.41% to QR628.7bn, mainly on account of small and microcap segments.
About 73% of the traded constituents extended gains to investors in the main market, which saw a total of 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.14mn changed hands across 17 deals.
The local retail investors’ weakened net profit booking had its influence in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen gaining faster than the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index gained 0.29%, All Share Index by 0.28% and Al Rayan Islamic Index (Price) by 0.51% in the main bourse, whose trade turnover and volumes were on the increase.
The realty sector index shot up 1.13%, insurance (0.82%), transport (0.62%), consumer goods and services (0.57%), industrials (0.35%), telecom (0.33%) and banks and financial services (0.06%).
Major movers included Doha Insurance, Ezdan, Lesha Bank, Inma Holding, Qatar Islamic Insurance, Masraf Al Rayan, Qatari German Medical Devices, Medicare Group, Mannai Corporation, Aamal Holding, Mesaieed Petrochemical Holding, Mazaya Qatar, United Development Company and Nakilat.
Nevertheless, Qatar General Insurance and Reinsurance, QLM, Al Khaleej Takaful, Ahlibank Qatar, Qatar Industrial Manufacturing, Commercial Bank, Barwa, Vodafone Qatar and Milaha were among the losers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
The Gulf institutions’ net buying increased substantially to QR54.49mn compared to QR38.21mn on May 8.
The Arab individuals turned net buyers to the tune of QR7.41mn against net sellers of QR5.61mn the previous day.
The foreign retail investors were net buyers to the extent of QR3.18mn compared with net sellers of QR6.49mn on Monday.
The local retail investors’ net profit booking declined perceptibly to QR7.36mn against QR12.67mn on May 8.
However, the foreign institutions turned net sellers to the tune of QR27.87mn compared with net buyers of QR8.56mn the previous day.
The domestic institutions’ net profit booking increased noticeably to QR25.8mn against QR21.11mn on Monday.
The Gulf retail investors’ net selling strengthened significantly to QR3.94mn compared to QR0.88mn on May 8.
The Arab institutions’ net profit booking rose marginally to QR0.1mn against QR0.01mn the previous day.
The main market saw a 12% jump in trade volumes to 378.96mn shares, 10% in value to QR770.27mn and less than 1% in deals to 22,139.
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