The Qatar Stock Exchange Wednesday bounced back with its key index gaining more than 69 points on the back of buying interests, especially from local retail investors.
The insurance, telecom, real estate and consumer goods sectors witnessed higher than average demand as the 20-stock Qatar Index gained 0.75% to 10,588.86 points, although it touched an intraday high of 10,602 points.
The Arab retail investors turned net buyers in the main market, whose year-to-date losses narrowed to 1.61%.
As much as 87% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR5.62bn or 0.9% to QR630.1bn mainly on account of midcap segments.
The foreign individuals were seen increasingly bullish in the main market, whose trade turnover and volumes were on the rise.
The domestic institutions continued to be net buyers but with lesser intensity in the main bourse, which saw 0.04mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.14mn trade across 33 deals.
The foreign funds were increasingly net profit takers in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen gaining faster than the main barometer of the main bourse, which saw no trading of treasury bills.
The Total Return Index rose 0.75%, the All Share Index by 0.98% and the All Islamic Index by 0.87% in the main bourse.
The insurance sector index surged 5.43%, followed by telecom (2.74%), real estate (2.18%), consumer goods and services (1.81%) and banks and financial services (0.84%); while transport and industrials declined 0.48% and 0.01% respectively.
As many as 47 gained, while five declined and two were unchanged.
Major movers in the main market included Qatar Cinema and Film Distribution, Qatar Insurance, Estithmar Holding, Zad Holding, Medicare Group, Qatar Islamic Bank, Doha Bank, Alijarah Holding, Qatar German Medical Devices, Salam International Investment, Meeza, Ezdan, Mazaya Qatar, Aamal Company, United Development Company, Barwa, Ooredoo and Gulf Warehousing.
In the juniour bourse, Techno Q saw its shares appreciate in value.
Nevertheless, Beema, Qamco, Nakilat, Gulf International Services and Industries Qatar were the shakers in the main market.
The local retail investors’ net buying increased substantially to QR86.41mn against QR25.37mn on March 3.
The Arab individuals turned net buyers to the tune of QR8.36mn compared with net sellers of QR10.59mn on Tuesday.
The foreign individual investors’ net buying rose perceptibly to QR3.39mn against QR2.04mn the previous day.
However, the foreign funds’ net selling expanded drastically to QR123.08mn compared to QR78.22mn on March 3.
The Gulf institutions were net sellers to the extent of QR15.61mn against net buyers of QR3.5mn on Tuesday.
The Gulf individuals turned net sellers to the tune of QR0.34mn compared with net buyers of QR0.67mn the previous day.
The domestic institutions’ net buying weakened considerably to QR40.87mn against QR57.24mn on March 3.
The Arab institutions had no major net exposure for the second straight session.
The main market saw 33% jump in trade volumes at 223.27mn shares, 21% in value to QR602.59mn and 16% in deals to 33,430.
In the venture market, a total of 0.06mn equities valued at QR0.13mn changed hands across 14 transactions.
