Domestic and Arab Funds Lift QSE Sentiments

The domestic institutions’ buying support on Thursday lifted the Qatar Stock Exchange by more than eight points, apparently discounting apprehensions over the US tariffs policy.

The telecom, transport and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.08% to 10,654.4 points, recovering from an intraday low of 10,597 points.

The Arab institutions were seen net buyers in the main bourse, whose capitalisation was up QR0.08bn or 0.01% to QR623.84bn on the back of microcap segments.

The foreign retail investors’ weakened net selling had its influence on the main market, which saw as many as 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.04mn changed hands across eight deals.

However, the Qatari individuals were increasingly net sellers in the main bourse, whose trade turnover and volumes were on the decline.

The Islamic index was seen declining vis-à-vis gains in the other indices of the main market, which saw no trading of treasury bills.

The Gulf institutions turned bearish in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index gained 0.25% and the All Share Index by 0.2%, while the All Islamic Index fell 0.13% in the main market.

The telecom sector index rose 0.57%, transport (0.5%), banks and financial services (0.3%) and industrials (0.03%); while real estate fell 0.39%, insurance (0.34%) and consumer goods and services (0.07%).

Major gainers in the main bourse included Lesha Bank, Salam International Investment, Nakilat, Ooredoo, Ahlibank Qatar and Industries Qatar.

Nevertheless, about 59% of the traded constituents were in the red with major losers being Woqod, Inma Holding, Dukhan Bank, Qatar Islamic Insurance, Dlala, Medicare Group, Aamal Company and Ezdan.

In the venture market, Al Mahhar Holding saw its shares depreciate in value.

The domestic institutions’ net buying increased drastically to QR48.3mn compared to QR10.17mn on February 19.

The Arab institutions turned net buyers to the tune of QR0.25mn against net major net exposure the previous day.

The foreign retail investors’ net selling declined noticeably to QR3.27mn compared to QR8.17mn on Wednesday.

The Gulf individuals’ net profit booking shrank perceptibly to QR1.93mn against QR5.54mn on February 19.

However, the local retail investors’ net selling expanded significantly to QR25.62mn compared to QR5.3mn the previous day.

The Gulf institutions were net sellers to the extent of QR6.94mn against net buyers of QR13.24mn on Wednesday.

The foreign institutions’ net profit booking strengthened markedly to QR6.55mn compared to QR1.22mn on February 19.

The Arab individual investors’ net selling increased marginally to QR4.24mn against QR3.17mn the previous day.

Trade volumes in the main market fell 24% to 128.16mn shares, value by 17% to QR371.82mn and deals by 10% to 14,123.

The venture market saw a 67% plunge in trade volumes to 0.02mn equities, 63% in value to QR0.06mn and 56% in transactions to 8.