The domestic funds’ buying support Tuesday lifted sentiments on the Qatar Stock Exchange (QSE), which gained as much as 60 points, reflecting in more than QR3bn accretion in capitalisation.
A higher than average demand at the telecom, insurance, industrials and consumer goods counters led the 20-stock Qatar Index to gain 0.58% to 10,393.29 points, recovering from an intraday low of 10,319 points.
The Gulf institutions were seen net buyers in the main market, whose year-to-date losses truncated to 3.43%.
About 56% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR3.46bn or 0.57% to QR614.32bn mainly on account of small and midcap segments.
The Gulf individuals turned net buyers, albeit at lower levels, in the main market, whose trade turnover and volumes were on the increase.
The foreign funds’ weakened net profit booking had its influence on the main bourse, which saw as many 0.02mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.16mn trade across 32 deals.
However, the local retail investors were seen net sellers in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen gaining slower than the main barometer of the bourse, which saw no trading of treasury bills.
The Total Return Index rose 0.97%, the All Share Index by 0.8% and the Al Rayan Islamic Index by 0.93% in the main bourse.
The telecom sector index surged 2.49%, insurance (1.7%), industrials (1.5%), consumer goods and services (0.85%), transport (0.44%) and banks and financial services (0.42%); while real estate was down 0.26%.
As many as 29 gained, while 20 declined and three were unchanged in the main market.
Major movers in the main market included Doha Bank, QLM, Qatar Insurance, Ooredoo, Al Mahhar Holding, Woqod, Industries Qatar, Nebras Energy, Mesaieed Petrochemical Holding and Vodafone Qatar.
Nevertheless, Commercial Bank, Qatar General Insurance and Reinsurance, Estithmar Holding, Meeza and Al Faleh Educational Holding were among the shakers in the main bourse.
The domestic institutions’ net buying increased substantially to QR49.7mn compared to QR23.26mn on March 16.
The Gulf funds turned net buyers to the tune of QR3.28mn against net profit takers of QR5.56mn on Monday.
The Gulf individuals were net buyers to the extent of QR0.11mn compared with net sellers of QR2.29mn the previous day.
The foreign institutions’ net selling decreased significantly to QR13.35mn against QR55.79mn on March 16.
However, the local individuals turned net sellers to the tune of QR36.41mn compared with net buyers of QR34.24mn on Monday.
The foreign retail investors were net sellers to the extent of QR4.89mn against net buyers of QR0.86mn the previous day.
The Arab individual investors’ net buying weakened noticeably to QR1.55mn compared to QR5.27mn on March 16.
The Arab institutions had no major net exposure for the second straight session.
The main market saw an 88% surge in trade volumes at 241.23mn shares and 37% in value to QR511.08mn but on 21% contraction in deals to 25,703.
In the venture market, a total of 10 equities valued at QR19 changed hands across one transaction.
