Strong buy support lifts Qatar Stock Exchange 273 points
March 10 2020 08:15 PM
More than 78% of the traded constituents extended gains to investors on the QSE Tuesday, as the 20-s
More than 78% of the traded constituents extended gains to investors on the QSE Tuesday, as the 20-stock Qatar Index gained 3.34% to 8,433.03 points, a day after it plummeted 9.7%.

Strong buying — especially in the transport, consumer goods and banking counters — Tuesday lifted the Qatar Stock Exchange 273 points in index and more than QR18bn in capitalisation.
More than 78% of the traded constituents extended gains to investors as the 20-stock Qatar Index gained 3.34% to 8,433.03 points, a day after it plummeted 9.7%.
Foreign institutions’ net selling pressure substantially weakened on the market, whose year-to-date losses were trimmed to 19.11%.
Market capitalisation saw 3.98% expansion to QR473.12bn mainly owing to mid and small cap segments.
Islamic stocks were seen gaining faster than the main barometer on the bourse, where local retail investors and domestic institutions continued to be bullish but with lesser vigour.
Trade turnover and volumes were on the decline on the bourse, where industrials, banking and realty sectors together accounted for more than 76% of the total trading volume.
The Total Return Index gained 3.63% to 15,859.11 points, Al Rayan Islamic Index (Price) by 3.94% to 1,809.93 points and All Share Index by 4.08% to 2,589.74 points.
The consumer goods index soared 7.74%, transport (6.5%), banks and financial services (4.22%), industrials (3.19%), real estate (2.3%) and telecom (1.88%), while insurance was down 0.77%.
Major gainers included QNB, Doha Bank, Masraf Al Rayan, Alijarah Holding, Dlala, Nakilat, Gulf Warehousing, Milaha, Ezdan, Barwa, Vodafone Qatar, Ooredoo, Salam International Investment, Widam Food, Qatar National Cement, Qatar Industrial Manufacturing, Qatar Electricity and Water, Mesaieed Petrochemical Holding and Qatar Islamic Insurance; even as QIIB, Qatar First Bank, Qatar Insurance, Mazaya Qatar and Doha Insurance were among the losers.
Non-Qatari institutions’ net selling decreased considerably to QR21.24mn compared to QR67.22mn on March 9.
The Gulf funds’ net profit booking eased extensively to QR17.76mn against QR44.36mn the previous day.
However, local retail investors’ net buying declined significantly to QR24.22mn compared to QR65.8mn on Monday.
Domestic institutions’ net buying also fell substantially to QR16.99mn against QR36.83mn on March 9.
Non-Qatari individual investors’ net buying weakened noticeably to QR0.5mn compared to QR4.95mn the previous day.
The Gulf individual investors turned net sellers to the tune of QR2.71mn against net buyers of QR4mn on Monday.
Total trade volumes fell 7% to 191.76mn shares and value by 14% to QR451.94mn, while transactions rose 32% to 12,579.
The consumer goods sector reported 60% plunge in trade volume to 15.62mn equities, 41% in value to QR50.03mn and 20% in deals to 1,270.
The real estate sector’s trade volume plummeted 37% to 45.5mn stocks and value by 19% to QR37.03mn, whereas deals increased 83% to 1,515.
The banks and financial services sector saw 9% decline in trade volume to 47.26mn shares and 16% in value to QR236.53mn but on 34% growth in transactions to 5,456.
The transport sector’s trade volume was down 9% to 6.67mn equities, value by 16% QR15.89mn and deals by 4% to 427.
However, the telecom sector’s trade volume more than quadrupled to 18.21mn stocks and value almost tripled to QR34.43mn on more than tripled transactions to 1,182.
The industrials sector’s trade volume shot up 87% to 53.58mn shares, while value was down 7% to QR68.59mn despite 18% higher deals at 2,245.
There was 47% surge in the insurance sector’s trade volume to 4.92mn equities, 27% in value to QR9.45mn and 66% in transactions to 484.
In the debt market, there was no trading of sovereign bonds and treasury bills.



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