The foreign institutions’ substantially increased net buying Tuesday lifted the Qatar Stock Exchange and its key index rose more than 33 points and capitalisation gained in excess of QR2bn.
The insurance and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.31% to 10,571 points, reflecting the buoyancy in the global market amidst expectations of solid economic rebound in China.
The market, which was skewed towards gainers, recovered from an intraday low of 10,506 points.The Gulf retail investors were seen net buyers, albeit at lower levels, in the main market, whose year-to-date losses were at 1.03%.About 47% of the traded constituents extended gains to investors in the main bourse, whose capitalisation saw QR2.48bn or 0.41% jump to QR610.49bn, mainly on account of midcap segments.The domestic institutions’ weakened net selling pressure had its influence in the main market, which saw a total of 4,726 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.01mn changed hands across 10 deals.However, the Gulf institutions were seen increasingly net sellers in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen declining vis-à-vis gains in the other indices in the main market, which saw no trading of treasury bills.The Total Return Index expanded 0.31% and All Share Index by 0.33%, while Al Rayan Islamic Index (Price) shrank 0.24% in the main bourse, whose trade turnover and volumes were on the increase.The insurance sector index rose 0.97%, banks and financial services (0.86%) and telecom (0.08%); while consumer goods and services declined 0.74%, transport (0.44%), real estate (0.28%) and industrials (0.03%).Major gainers in the main market included Estithmar Holding, Medicare Group, Dlala, Qatar Insurance, QNB, QIIB and Baladna. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.Nevertheless, Mannai Corporation, Ahlibank Qatar, Inma Holding, Mekdam Holding, Qatar Electricity and Water, Barwa, Milaha and Gulf Warehousing were among the shakers in the main market.The foreign institutions’ net buying increased substantially to QR46.85mn compared to QR8.64mn on February 27.The Gulf retail investors turned net buyers to the tune of QR0.38mn against net sellers of QR0.36mn the previous day.The domestic institutions’ net profit booking declined perceptibly to QR1.48mn compared to QR8.98mn on Monday.However, the Gulf institutions’ net selling expanded significantly to QR45.51mn against QR11.74mn on February 27.The Arab individual investors’ net selling grew noticeably to QR4.4mn compared to QR1.32mn the previous day.The foreign retail investors’ net profit booking rose markedly to QR1.99mn against QR0.4mn on Monday.The Arab institutions were net sellers to the extent of QR0.09mn compared with no major net exposure on February 27.The local individual investors’ net buying shrank notably to QR6.23mn compared to QR13.17mn the previous day.The main market saw a 86% surge in trade volumes to 187.21mn shares to more than double value to QR740.17mn on 11% higher deals at 15,111.