Aided by firm global oil prices, the Qatar Stock Exchange (QSE) Wednesday gained about 88 points to inch towards 11,400 levels and capitalisation added in excess of QR3bn.
The foreign funds were increasingly net buyers as the 20-stock Qatar Index gained 0.78% to 11,373.09 points, recovering from an intraday low of 11,285 points.
The telecom, industrials and consumer goods counters witnessed higher than average demand in the main market, whose year-to-date gains improved to 5.67%.
More than 62% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR3.21bn or 0.47% to QR680.33bn mainly on small and microcap segments.
The Gulf funds were increasingly bullish in the main market, whose trade turnover and volumes were on the decrease.
However, the local retail investors were seen net sellers in the main market, which saw as many as 0.01mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.05mn trade across 11 deals.
The domestic funds were increasingly net profit takers in the main bourse, which saw no trading of sovereign bonds.
The Arab individuals were seen increasingly bearish in the main market, which saw no trading of treasury bills. The Total Return Index rose 0.78%, the All Share Index by 0.56% and the All Islamic Index by 0.8% in the main bourse.
The telecom sector index shot up 1.37%, industrials (0.91%), consumer goods and services (0.81%), real estate (0.69%), banks and financial services (0.39%) and transport (0.22%); while insurance was down 0.02%.
As many as 33 gained, while 18 declined and two were unchanged.
Major movers in the main market included Beema, Mekdam Holding, Inma Holding, Doha Bank, Nebras Qatar, Commercial Bank, AlRayan Bank, Dukhan Bank, Woqod, Industries Qatar, Mesaieed Petrochemical Holding, United Development Company, Ooredoo and Nakilat. In the junior bourse, Techno Q saw its shares appreciate in value.
Nevertheless, Mannai Corporation, Gulf Warehousing, Estithmar Holding, Medicare Group, Milaha, Qamco and Nakilat were among the shakers in the main market.
The foreign funds’ net buying increased substantially to QR74.99mn compared to QR51.54mn the previous day.
The Gulf institutions’ net buying expanded noticeably to QR19.81mn against QR13.73mn on January 27.
However, the Qatari retail investors’ net selling strengthened considerably to QR59.12mn compared to QR43.33mn on Tuesday.
The domestic funds’ net profit booking grew perceptibly to QR24.8mn against QR22.22mn the previous day.
The Arab individual investors’ net selling increased notably to QR9.61mn compared to QR4.1mn on January 27.
The Gulf retail investors’ net profit booking rose marginally to QR0.92mn against QR0.19mn on Tuesday.
The foreign individuals turned net sellers to the tune of QR0.34mn compared with net buyers of QR4.56mn the previous day.
The Arab funds had no major net exposure for the fifth straight session.
The main market saw 13% contraction in trade volumes to 142.16mn shares, 15% in value to QR462.89mn and 12% in deals to 36,376.
In the venture market, a total of 0.02mn equities valued at QR0.04mn changed hands across nine transactions.
