The cabinet approval on up to 100% foreign ownership limit in the country’s four major banks had its reflection in the Qatar Stock Exchange, which on Thursday crossed the 11,000 levels.
A higher than average demand in the banking counter led the 20-stock Qatar Index surpass the 11,100 levels intraday but finally settle 37 points or 0.34% higher at 11,033.44 points.
Having crossed the psychological levels of 11,000 points, the next target would be 11,400 points, Kamco Invest analysts said in their technical note.
"However, some attempts to inch down cannot be ignored but an aggressive move is not favoured, knowing that the nearby support levels are located at 10,850 points, 10,675 points and 10,500 points but only below this will change the sentiment," it said.
The analysts said medium-term and long-term investors can stay in the market with a stop-loss below 10,600 points and 10,230 points, respectively.
Foreign funds were increasingly net buyers in the market, whose year-to-date gains swelled to 5.73%.
The Gulf institutions were also seen bullish in the bourse, whose capitalisation nevertheless saw about QR2bn or 0.53% decrease to QR638.21bn mainly due to small cap segments.
The Arab individuals were increasingly net buyers in the market, which saw the industrials and banking sectors together constitute more than 76% of the total trading volume.
The overall trade turnover and volume were on the increase in the bourse, where the Gulf individuals turned net buyers, albeit at lower levels.
The Islamic index was seen gaining faster than the other indices in the market, which saw a total of 327,033 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR3.3mn change hands across 28 deals.
The Total Return Index rose 0.34% to 21,841.35 points, All Share Index by 0.05% to 3,511.85 points and Al Rayan Islamic Index (Price) by 0.36% to 2,500.42 points in the market which saw 99,650 sovereign bonds valued at QR1.04bn change hands across two deals, while there was no transaction in the treasury bills.
The banks and financial services index gained 0.74% and consumer goods and services 0.09%; while industrials declined 1.37%, insurance (1.16%), telecom (0.33%), transport (0.31%) and real estate (0.08%).
Major gainers included Commercial Bank, Qatar Islamic Bank, Ahlibank Qatar, al khaliji and Masraf Al Rayan.
However, more than 68% of the traded constituents were in the red with major shakers being QNB, Qatar Insurance, Industries Qatar, Mesaieed Petrochemical Holding, QLM, Aamal Company, Gulf International Services, Doha Insurance, Qatar Islamic Insurance and Qamco.
The foreign institutions’ net buying increased drastically to QR73.47mn against QR42.58mn on August 18.
The Gulf funds turned net buyers to the tune of QR15.02mn compared with net sellers of QR4.77mn on Wednesday.
The Arab individuals’ net buying grew noticeably to QR5.76mn against QR0.29mn the previous day.
The Gulf individuals were net buyers to the extent of QR0.9mn compared with net sellers of QR0.13mn on August 18.
However, the domestic funds’ net selling rose considerably to QR45.87mn against QR22.95mn on Wednesday.
Local retail investors’ net selling strengthened significantly to QR44.57mn compared to QR11.88mn the previous day.
The foreign individuals’ net profit booking expanded perceptibly to QR4.7mn against QR3.14mn on August 18.
The Arab funds turned net sellers to the tune of QR0.04mn compared with net buyers of QR0.01mn on Wednesday.
Total trade volume rose 8% to 175.47mn shares, value by 59% to QR579.94mn and transactions by 78% to 13,681.
The banks and financial services sector’s trade volume more than doubled to 55.59mn equities and value also more than doubled to QR343.89mn on more than tripled deals to 7,827.
The insurance’s trade volume soared 85% to 4.1mn stocks and value by 62% to QR10.24mn, while transactions were down 18% to 146.
There was 10% surge in the industrials sector’s trade volume to 78.15mn shares, 22% in value to QR139.44mn and 40% in deals to 3,205.
The telecom sector’s trade volume was up 2% to 3.08mn equities and value by 19% to QR12.34mn, while transactions shrank 5% to 395.
However, the real estate sector reported 72% plunge in trade volume to 7.19mn stocks, 66% in value QR11.42mn and 40% in deals to 557.
The consumer goods and services sector’s trade volume plummeted 30% to 23.35mn shares and value by 7% to QR45.72mn, while transactions rose less than 1% to 986.
The transport sector saw 22% shrinkage in trade volume to 4.01mn equities and 12% in value to QR16.9mn but on 26% expansion in deals to 565.
A higher than average demand in the banking counter led the 20-stock Qatar Index surpass the 11,100 levels intraday but finally settle 37 points or 0.34% higher at 11,033.44 points.
Having crossed the psychological levels of 11,000 points, the next target would be 11,400 points, Kamco Invest analysts said in their technical note.
"However, some attempts to inch down cannot be ignored but an aggressive move is not favoured, knowing that the nearby support levels are located at 10,850 points, 10,675 points and 10,500 points but only below this will change the sentiment," it said.
The analysts said medium-term and long-term investors can stay in the market with a stop-loss below 10,600 points and 10,230 points, respectively.
Foreign funds were increasingly net buyers in the market, whose year-to-date gains swelled to 5.73%.
The Gulf institutions were also seen bullish in the bourse, whose capitalisation nevertheless saw about QR2bn or 0.53% decrease to QR638.21bn mainly due to small cap segments.
The Arab individuals were increasingly net buyers in the market, which saw the industrials and banking sectors together constitute more than 76% of the total trading volume.
The overall trade turnover and volume were on the increase in the bourse, where the Gulf individuals turned net buyers, albeit at lower levels.
The Islamic index was seen gaining faster than the other indices in the market, which saw a total of 327,033 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR3.3mn change hands across 28 deals.
The Total Return Index rose 0.34% to 21,841.35 points, All Share Index by 0.05% to 3,511.85 points and Al Rayan Islamic Index (Price) by 0.36% to 2,500.42 points in the market which saw 99,650 sovereign bonds valued at QR1.04bn change hands across two deals, while there was no transaction in the treasury bills.
The banks and financial services index gained 0.74% and consumer goods and services 0.09%; while industrials declined 1.37%, insurance (1.16%), telecom (0.33%), transport (0.31%) and real estate (0.08%).
Major gainers included Commercial Bank, Qatar Islamic Bank, Ahlibank Qatar, al khaliji and Masraf Al Rayan.
However, more than 68% of the traded constituents were in the red with major shakers being QNB, Qatar Insurance, Industries Qatar, Mesaieed Petrochemical Holding, QLM, Aamal Company, Gulf International Services, Doha Insurance, Qatar Islamic Insurance and Qamco.
The foreign institutions’ net buying increased drastically to QR73.47mn against QR42.58mn on August 18.
The Gulf funds turned net buyers to the tune of QR15.02mn compared with net sellers of QR4.77mn on Wednesday.
The Arab individuals’ net buying grew noticeably to QR5.76mn against QR0.29mn the previous day.
The Gulf individuals were net buyers to the extent of QR0.9mn compared with net sellers of QR0.13mn on August 18.
However, the domestic funds’ net selling rose considerably to QR45.87mn against QR22.95mn on Wednesday.
Local retail investors’ net selling strengthened significantly to QR44.57mn compared to QR11.88mn the previous day.
The foreign individuals’ net profit booking expanded perceptibly to QR4.7mn against QR3.14mn on August 18.
The Arab funds turned net sellers to the tune of QR0.04mn compared with net buyers of QR0.01mn on Wednesday.
Total trade volume rose 8% to 175.47mn shares, value by 59% to QR579.94mn and transactions by 78% to 13,681.
The banks and financial services sector’s trade volume more than doubled to 55.59mn equities and value also more than doubled to QR343.89mn on more than tripled deals to 7,827.
The insurance’s trade volume soared 85% to 4.1mn stocks and value by 62% to QR10.24mn, while transactions were down 18% to 146.
There was 10% surge in the industrials sector’s trade volume to 78.15mn shares, 22% in value to QR139.44mn and 40% in deals to 3,205.
The telecom sector’s trade volume was up 2% to 3.08mn equities and value by 19% to QR12.34mn, while transactions shrank 5% to 395.
However, the real estate sector reported 72% plunge in trade volume to 7.19mn stocks, 66% in value QR11.42mn and 40% in deals to 557.
The consumer goods and services sector’s trade volume plummeted 30% to 23.35mn shares and value by 7% to QR45.72mn, while transactions rose less than 1% to 986.
The transport sector saw 22% shrinkage in trade volume to 4.01mn equities and 12% in value to QR16.9mn but on 26% expansion in deals to 565.
