The Qatar Stock Exchange Wednesday reopened after the Eid recess on a solid note with its key index gaining as much as 142 points to cross the 10,000 levels.

Gulf Times

The transport, insurance and banking counters witnessed higher than average demand as the 20-stock Qatar Index vaulted 1.43% to 10,072.56 points.

The market, which was skewed towards movers, saw the index recover from an intraday low of 9,953 points.

The Gulf institutions were increasingly into net buying in the main market, whose year-to-date losses narrowed to 5.7%.

The foreign funds were also increasingly bullish in the main bourse, whose capitalisation was seen adding QR7.2bn or 1.25% to QR583.45bn, mainly on account of mid and small cap segments.

The Arab individuals turned net buyers in the main market, which saw a total of 0.13mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.04mn changed hands across 59 deals.

However, the domestic funds were increasingly net profit takers in the main bourse, which saw no trading of sovereign bonds.

The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.

The Total Return Index shot up 1.43%, All Share Index by 1.39% and Al Rayan Islamic Index (Price) by 0.79% in the main bourse, whose trade turnover and volumes were on the increase.

The transport sector index surged 3.35, insurance (1.79%), banks and financial services (1.49%), industrials (1.16%), consumer goods and services (0.69%) and telecom (0.54%); while real estate declined 0.36%.

More than 72% of the traded constituents in the main market extended gains with major movers being Mekdam Holding, Inma Holding, Qatari German Medical Devices, Gulf International Services, Dlala, Qatar Islamic Bank, Doha Bank, QNB, Medicare Group, Al Khaleej Takaful, Qatar Insurance, Ezdan, Vodafone Qatar, Nakilat and Milaha.

Nevertheless, United Development Company, Dukhan Bank, Qatar Industrial Manufacturing, Beema and Baladna were among the losers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.

The Gulf institutions’ net buying strengthened substantially to QR17.39mn compared to QR3.58mn on April 20.

The foreign institutions’ net buying increased significantly to QR11.83mn against QR4.96mn the previous trading day.

The Arab individuals turned net buyers to the tune of QR8.93mn compared with net sellers of QR0.17mn last Thursday.

However, the domestic institutions’ net selling increased perceptibly to QR30.34mn against QR26.96mn on April 20.

The local retail investors were net sellers to the extent of QR5.96mn compared with net buyers of QR18.96mn the previous trading day.

The foreign individuals’ net profit booking expanded noticeably to QR1mn against QR0.4mn last Thursday.

The Gulf retail investors turned net sellers to the tune of QR0.66mn compared with net buyers of QR0.04mn on April 20.

The Arab institutions were net profit takers to the extent of QR0.2mn against no major net exposure the previous trading day.

The main market saw an 80% jump in trade volumes to 162.67mn shares, more than doubling value to QR485.26mn on 81% increase in deals to 21,072.
Related Story