QSE Displays Resilience as Index Surges 177 Points; M-Cap Adds QR12bn

Displaying resilience, the Qatar Stock Exchange on Monday mirrored the regional trends, as its key index shot up more than 177 points and capitalisation added QR12bn on an across the board buying interests.

The foreign institutions were increasingly net buyers as the 20-stock Qatar Index zoomed 1.73% to 10,464.8 points, recovering from an intraday low of 10,312 points, a day after the regional markets were rattled by fears of wider conflict after Israel and Iran launched fresh attacks.

The telecom, real estate and banking counters witnessed higher than average demand in the main market, whose year-to-date losses narrowed to 1.01%.

About 87% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added 1.99% to QR616.5bn mainly on account of large and midcap segments.

The Arab individuals turned net buyers in the main market, which saw as many as 0.02mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.05mn trade across eight deals.

The Gulf institutions were seen bullish in the main bourse, whose trade turnover grew amidst lower volumes.

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

The foreign retail investors turned net buyers in the main bourse, which saw no trading of sovereign bonds and treasury bills.

The Total Return Index gained 1.71%, the All Share Index by 1.78% and the All Islamic Index by 1.61% in the main market.

The telecom sector index shot up 2.72%, realty (2.47%), banks and financial services (2.06%), transport (1.53%), consumer goods and services (1.49%), insurance (1.04%) and industrials (0.94%).

Major movers in the main bourse included Medicare Group, Ezdan, Doha Bank, QNB, Dlala, Mannai Corporation, Commercial Bank, Lesha Bank, Dukhan Bank, Qatar Oman Investment, Qatar German Medical Devices, Salam International Investment, Widam Food, Baladna, Al Faleh Educational Holding, Al Mahhar Holding, Mesaieed Petrochemical Holding, Estithmar Holding, Qamco, Mazaya Qatar and United Development Company.

In the venture market, Techno Q saw its shares appreciate in value.

Nevertheless, Beema, Qatar Electricity and Water, Ahlibank Qatar and Mekdam Holding were the losers in the main market.

The foreign institutions’ net buying increased substantially to QR37.36mn compared to QR13.91mn on June 15.

The Arab individual investors turned net buyers to the tune of QR8.89mn against net sellers of QR22.02mn the previous day.

The Gulf institutions were net buyers to the extent of QR8.36mn compared with net buyers of QR12.31mn on Sunday.

The foreign individual investors turned net buyers to the tune of QR2.78mn against net sellers of QR3.78mn on June 15.

However, the domestic funds were net sellers to the extent of QR39.66mn compared with net buyers of QR0.8mn the previous day.

The local retail investors turned net profit takers to the tune of QR16.87mn against net buyers of QR24.15mn on Sunday.

The Gulf individual investors’ net profit booking strengthened marginally to QR0.86mn compared to QR0.74mn on June 15.

The Arab institutions had no major net exposure for the second consecutive day.

The main market saw an 8% contraction in trade volumes to 239.97mn shares but on 12% jump in value to QR566.45mn and 12% in deals to 32,908.

In the venture market, a total of 0.01mn equities valued at QR0.03mn changed hands across eight transactions.