Strengthening oil prices had its positive spillover in the Gulf shores, including the Qatar Stock Exchange (QSE), which Tuesday gained about 74 points in index and about QR4bn in capitalisation.
The foreign funds were increasingly net buyers as the 20-stock Qatar Index rose 0.6% to 11,229.22 points, recovering from an intraday low of 11,178 points.
The Gulf institutions were seen increasingly bullish in the main market, whose year-to-date gains improved further to 4.34%.
About 62% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR3.81bn or 0.57% to QR671.71bn mainly on mid and small cap segments.
The banks and insurance counters witnessed higher than average demand in the main market, which saw as many as 0.01mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.06mn trade across 11 deals.
The domestic funds’ weakened net profit booking had its influence on the main bourse, whose trade turnover and volumes were on the rise.
The Islamic index was seen gaining slower than the other indices of the main market, which saw as many as 5,000 corporate sukuks valued at QR5bn change hands across one transaction.
However, the local retail investors were increasingly net sellers in the main bourse, which saw no trading of sovereign bonds and treasury bills.
The Total Return Index gained 0.6%, the All Share Index by 0.63% and the All Islamic Index by 0.23% in the main market.
The banks and financial services sector index gained 1.01%, insurance (0.83%), transport (0.54%), telecom (0.42%) and consumer goods and services (0.19%); while industrials and real estate declined 0.16% and 0.13% respectively.
As many as 32 stocks gained, while 17 declined and three were unchanged.
Major movers in the main market included Al Mahhar Holding, Doha Insurance, Medicare Group, QIIB, Gulf International Services, Qatar Islamic Bank, QNB, AlRayan Bank, Salam International Investment and Nakilat. In the junior bourse, Techno Q saw its shares appreciate in value.
Nevertheless, Qatar Electricity and Water, Dukhan Bank, Qatari Investors Group, Barwa and Milaha were among the shakers in the main market.
The foreign institutions’ net buying strengthened significantly to QR73.38mn compared to QR61.36mn on January 12.
The Gulf institutions’ net buying expanded markedly to QR22.87mn against QR19.1mn the previous day.
The Arab institutions were net buyers to the tune of QR0.01mn compared with no major net exposure on Monday.
The domestic institutions’ net profit booking declined perceptibly to QR30.41mn against QR35.55mn on January 12.
However, the local individuals’ net selling increased significantly to QR52.27mn compared to QR45.78mn the previous day.
The Arab retail investors were net sellers to the extent of QR5.74mn against net buyers of QR0.27mn on Monday.
The foreign individuals turned net sellers to the tune of QR5.34mn compared with net buyers of QR2.46mn on January 12.
The Gulf retail investors’ net profit booking grew noticeably to QR2.5mn against QR1.87mn the previous day.
The main market saw 23% jump in trade volumes to 135.93mn shares and 25% in value to QR497.25mn but on 25% decline in deals to 32,902.
In the venture market, a total of 0.08mn equities valued at QR0.17mn changed hands across 32 transactions.
