QSE rebounds with 84 points gain; M-cap improves QR5bn
August 03 2022 07:55 PM
QSE

Strong buying, especially in the insurance, transport and telecom counters Wednesday helped Qatar Stock Exchange gain 84 points and its capitalisation expanded about QR5bn.
The foreign funds were increasingly into net buying as the 20-stock Qatar Index shot up 0.63% to 13,386.21 points, recovering from an intraday low of 13,273 points.
More than 73% of the traded constituents extended gains in the market, whose year-to-date gains were at 15.14%. The domestic institutions’ weakened net selling pressure had its influence in the bourse, whose capitalisation shot up 0.63% to QR740.47bn, mainly on the back of midcap segments.
The Islamic index was seen gaining slower than the other indices in the market, where the industrials and consumer goods sectors together constituted about 76% of the total trading volume.
The Gulf individuals were seen bullish, albeit at lower levels, in the bourse, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.35mn changed hands across 18 deals.
However, local retail investors were seen net profit takers in the market, which saw no trading of sovereign bonds.
The Arab retail investors also turned bearish in the bourse, which saw no trading of treasury bills.
The Total Return Index gained 0.63% to 27,419.31 points, All Share Index by 0.69% to 4,244.44 points and Al Rayan Islamic Index (Price) by 0.54% to 2,918.11points.
The insurance sector index zoomed 1.8%, telecom (1.35%), transport (1.1%), consumer goods and services (0.9%), real estate (0.75%), banks and financial services (0.6%) and industrials (0.45%).Major gainers in the main market included Qatar General Insurance and Reinsurance, Qatari German Medical Devices, QLM, Salam International Investment, Qamco, Qatar Islamic Bank, Dlala, Medicare Group, Baladna, Qatari Investors Group, Qatar National Cement, Aamal Company, Estithmar Holding, United Development Company, Ooredoo and Nakilat.
In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.
Nevertheless, Doha Insurance, Mesaieed Petrochemical Holding, Zad Holding, Inma Holding and Qatar Electricity and Water were among the losers in the main market.
In the juniour bourse, Mekdam Holding saw its shares lose sheen.
The foreign institutions’ net buying increased substantially to QR82.47mn compared to QR50.48mn on August 2.
The Gulf retail investors turned net buyers to the tune of QR0.04mn against net profit takers of QR0.69mn the previous day.
The domestic institutions’ net selling decreased considerably to QR24.6mn compared to QR56.71mn on Tuesday.
However, Qatari individuals were net sellers to the extent of QR32.14mn against net buyers of QR2.33mn on August 2.
The Arab individuals were net sellers to the tune of QR13.2mn compared with net buyers of QR0.34mn the previous day.
The foreign individuals’ net profit booking expanded noticeably to QR8.8mn against QR2.52mn on Tuesday.
The Gulf institutions turned net sellers to the tune of QR4.49mn compared with net buyers of QR5.77mn on August 2.
The Arab funds continued to have no major net exposure for the second straight session.
Total trade volume in the main market rose 11% to 318.16mn shares, value by 18% to QR850.02mn and transactions by 12% to 22,073.
In the venture market, trade volumes stood at 1.55mn stocks, value at QR9.26mn and deals at 353.



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