QSE snaps five-day bear run as index gains 28 points

Reversing the bearish trend of the last five days, the Qatar Stock Exchange (QSE) on Wednesday gained more than 28 points on the back of buying support from domestic institutions.

The real estate, telecom, consumer goods and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.28% to 10,185.78 points, although it touched an intraday high of 10,211 points.

The foreign institutions were seen bullish in the main market, whose year-to-date losses truncated to 3.64%.

As much as 75% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR1.85bn or 0.31% to QR598.29bn on the back of microcap segments.

The foreign individuals were increasingly net buyers in the main market, which saw as many as 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.07mn change hands across 10 deals.

However, the Gulf funds were seen net profit takers in the main bourse, whose trade turnover and volumes were on the increase.

The Islamic index was seen outperforming the other indices of the main market, which saw no trading of treasury bills.

The local individuals turned net sellers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index gained 0.28%, the All Share Index by 0.29% and the All Islamic Index by 0.62% in the main market.

The realty sector index shot up 1.19%, telecom (0.98%), consumer goods and services (0.68%) and banks and financial services (0.45%); while transport declined 0.84%, industrials (0.05%) and insurance (0.01%).

Major gainers in the main market included Qatari German Medical Devices, Inma Holding, Estithmar Holding, QIIB, Mesaieed Petrochemical Holding, United Development Company, Barwa and Vodafone Qatar.

Nevertheless, Mekdam Holding, Dlala, Al Mahhar Holding, Beema and Nakilat were among the shakers in the main bourse. In the venture market, Techno Q saw its shares depreciate in value.

The domestic institutions’ net buying increased significantly to QR34.89mn compared to QR10.54mn on March 25.

The foreign institutions turned net buyers to the tune of QR7.45mn against net sellers of QR23.89mn the previous day.

The foreign individual investors’ net buying strengthened marginally to QR2.5mn compared to QR2.43mn on Tuesday.

However, the Gulf institutions were net sellers to the extent of QR21.76mn against net buyers of QR4.81mn on March 25.

The local individuals turned net sellers to the tune of QR12.86mn compared with net buyers of QR2.4mn the previous day.

The Arab retail investors were net profit takers to the extent of QR10.12mn against net buyers of QR3.12mn on Tuesday.

The Gulf individual investors turned net sellers to the tune of QR0.09mn compared with net buyers of QR0.59mn on March 25.

The Arab institutions had no major net exposure for the fifth straight session.

The main market witnessed a 7% jump in trade volumes to 135.03mn shares, 24% in value to QR390.16mn and 28% in deals to 18,834.

In the junior bourse, trade volumes grew almost five-fold to 35,186 equities and value also by almost five-fold to QR0.1mn on doubled transactions to eight.