Qatar Stock Exchange gains on across-the-board buying
March 24 2020 08:54 PM
QSE

An across-the-board buying, notably within telecom sector, Tuesday led the Qatar Stock Exchange (QSE) gain more than 17 points, a day after the mayhem.
Non-Qatari individual investors turned bullish as the 20-stock Qatar Index settled 0.22% higher at 8,276.36 points, although it touched a low of 8,249 points within the first 15 minutes of opening, after which it rose to a high of 8,413 points in the next 65 minutes.
Foreign institutions' weakened net selling also had its influence on the bourse, whose year-to-date losses were trimmed to 20.61%.
Market capitalisation saw about QR2bn or 0.39% increase to QR468.01bn mainly owing to small and midcap segments.
Islamic stocks were seen gaining faster than the other indices on the market, where the domestic funds and local retail investors continued to be bullish but with lesser intensity.
Trade turnover and volumes were on the decline in the bourse, where banking and realty sectors together accounted for more than 64% of the total trading volume.
The Total Return Index gained 0.55% to 15,827.34 points, Al Rayan Islamic Index (Price) by 0.82% to 1,755.56 points and All Share Index by 0.48% to 2,580.06 points.
The telecom index shot up 2.88%, industrials (0.78%), insurance (0.69%), realty (0.64%), consumer goods and services (0.62%), banks and financial services (0.28%) and transport (0.09%).
More than 70% of the traded stocks extended gains with major movers being Ooredoo, Qatari Investors Group, Qatar Electricity and Water, Qatar General Insurance and Reinsurance, Ezdan, United Development Company, Gulf Warehousing, Qatar Islamic Bank, Masraf Al Rayan, al khaliji, Salam International Investment, Qatar German Company for Medical Devices and Mannai Corporation.
However, Qatar National Cement, Vodafone Qatar, Al Khaleej Takaful, Commercial Bank, Qatar Oman Investment and Islamic Holding Group.
Non-Qatari individual investors turned net buyers to the tune of QR8.25mn compared with net sellers of QR0.5mn on March 23.
Non-Qatari institutions' net profit booking declined substantially to QR46mn against QR93.1mn the previous day.
However, the Gulf institutions’ net selling strengthened considerably to QR9.8mn compared to QR3.84mn on Monday.
The Gulf individuals were net sellers to the extent of QR0.26mn against net buyers of QR0.13mn on March 23.
Domestic funds' net buying weakened significantly to QR37.25mn compared to QR72.33mn the previous day.
Local retail investors' net buying decreased noticeably to QR10.56mn against QR24.9mn on Monday.
Total trade volumes fell 23% to 84.07mn shares, value by 12% to QR292.41mn and transactions by 15% to 8,689.
The transport sector's trade volume plummeted 69% to 3.02mn equities, value by 80% to QR6.58mn and deals by 68% to 276.
There was 53% plunge in the consumer goods sector's trade volume to 8.06mn stocks, 38% in value to QR15.52mn and 31% in transactions to 526.
The banks and financial services sector's trade volume tanked 25% to 25.77 shares, while value was up 2% to QR182.56mn despite 6% lower deals at 4,379.
The telecom sector reported 9% shrinkage in trade volume to 3.64mn equities, value by 17% to QR16.01mn and transactions by 36% to 664.
The industrials sector's trade volume declined 5% to 13.59mn stocks, whereas value expanded 34% to QR43.1mn and deals by 19% to 1,941.
The real estate sector saw 3% fall in trade volume to 28.07mn shares, 37% in value to QR25.32mn and 35% in transactions to 737.
However, the insurance sector's trade volume soared 92% to 1.92mn equities and value by 51% to QR3.33mn, while deals eased 15% to 166.
In the debt market, there was no trading of sovereign bonds and treasury bills.



There are no comments.

LEAVE A COMMENT Your email address will not be published. Required fields are marked*
MORE NEWS

HAPPENING IN DOHAMore