Amidst uncertainty over the US’ new tariff policy, the foreign funds were increasingly net buyers in the local bourse as the 20-stock Qatar Index shot up 1.07% to 10,619.4 points, recovering from an intraday low of 10,503 points.
Robust corporate earnings on Wednesday lifted sentiments in the Qatar Stock Exchange (QSE), which Wednesday gained more than 112 points and its key index surpassed 10,600 levels on an across the board buying interests.
Amidst uncertainty over the US’ new tariff policy, the foreign funds were increasingly net buyers in the local bourse as the 20-stock Qatar Index shot up 1.07% to 10,619.4 points, recovering from an intraday low of 10,503 points.
About 60% of the traded constituents saw its shares appreciate in value in the main bourse, whose capitalisation added QR4.71bn or 0.76% to QR620.53bn on the back of large and midcap segments.
The Gulf individuals were seen increasingly net buyers in the main market, which saw as many as 200 exchange traded funds (sponsored by Doha Bank) valued at mere QR2,060 changed hands across one deal.
The foreign retail investors turned bullish, albeit at lower levels, in the main bourse, whose trade turnover and volumes were on the increase.
The Islamic index was seen gaining faster than the other indices of the main market, which saw no trading of treasury bills.
However, the local retail investors were increasingly net profit takers in the main bourse, which saw no trading of sovereign bonds.
The Total Return Index rose 1.07%, the All Share Index by 0.89% and the All Islamic Index by 1.08% in the main market.
The telecom sector index soared 2.53%, consumer goods and services (0.99%), industrials (0.91%), banks and financial services (0.77%), transport (0.69%), real estate (0.68%) and insurance (0.62%).
Major gainers in the main market included Commercial Bank, Qamco, Ooredoo, Mesaieed Petrochemical Holding, Doha Bank, Dlala, Masraf Al Rayan, Woqod, Al Faleh Educational Holding, Aamal Company and Qatar National Cement.
Nevertheless, Qatar Cinema and Film Distribution, Gulf Warehousing, Ezdan, Dukhan Bank and Meeza were among the shakers in the main bourse.
In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value.
The foreign institutions’ net buying increased substantially to QR96.81mn compared to QR2.91mn on January 21.
The Gulf individual investors’ net buying strengthened marginally to QR0.84mn against QR0.42mn the previous day.
The foreign individuals turned net buyers to the tune of QR0.07mn compared with net sellers of QR1.37mn on Tuesday.
However, the Qatari individuals’ net selling expanded drastically to QR84.43mn against QR37.22mn on January 21.
The Gulf institutions were net sellers to the extent of QR6.92mn compared with net buyers of QR0.76mn the previous day.
The Arab individual investors were net sellers to the tune of QR5.27mn against net buyers of QR1.5mn on Tuesday.
The domestic funds turned net profit takers to the extent of QR1.11mn compared with net buyers of QR32.99mn on January 21.
The Arab institutions had no major net exposure for the fourth straight session.
Trade volumes in the main market soared 10% to 234.12mn shares, value by 43% to QR689.13mn and deals by 63% to 24,204.
The venture market saw a 76% plunge in trade volumes to 0.38mn equities, 76% in value to QR1mn and 68% in transactions to 48.
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
