QSE Enters Sixth Day of Bull-Run as Key Index Surpasses 10,200 Levels

The Qatar Stock Exchange (QSE) yesterday gained for the sixth consecutive day with its key index surpassing the 10,200 levels, on buying interests especially in the telecom and consumer goods sectors.

The local retail investors turned bullish as the 20-stock Qatar Index rose as much as 67 points or 0.66% to 10,213.33 points, recovering from an intraday low of 10,147 points.

The US-tariff relief continued to have its influence in the main market, whose year-to-date losses truncated further to 3.38%. 

As much as 53% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR3.73bn or 0.63% to QR600.35bn on the back of large and small cap segments.

The domestic funds’ weakened net profit booking had its influence in the main market, which saw as many as 0.03mn exchange traded funds (sponsored by AlRayan Bank) valued at QR0.07mn change hands across nine deals.

 The foreign retail investors continued to be bullish but with lesser vigour in the main bourse, whose trade turnover and volumes were on the decrease.

The Islamic index was seen gaining slower than the other indices of the main market, which saw no trading of treasury bills. The Arab retail investors were seen net profit takers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index rose 0.66%, the All Share Index by 0.6% and the All Islamic Index by 0.49% in the main market.

The telecom sector index soared 2.88%, consumer goods and services (1.03%), industrials (0.48%), banks and financial services (0.47%), transport (0.35%) and realty (0.34%); whereas insurance declined 0.27%. Major gainers in the main bourse included Ooredoo, Industries Qatar, Inma Holding, Medicare Group, Qatar Islamic Bank and Woqod. In the venture market, Techno Q saw its shares appreciate in value.

Nevertheless, Al Meera, Zad Holding, Al Mahhar Holding, Al Faleh Educational Holding, Mesaieed Petrochemical Holding, QIIB and Qatari German Medical Devices were among the losers in the main market.

The Qatari individuals turned net buyers to the tune of QR2.73mn compared with net sellers of QR9.31mn on April 14.

The domestic institutions’ net profit booking weakened markedly to QR1.56mn against QR9.28mn the previous day.

However, the Arab retail investors were net sellers to the extent of QR4.01mn compared with net buyers of QR4.07mn on Monday.

The Gulf institutions’ net profit booking strengthened significantly to QR3.7mn against QR0.65mn on April 14.

The Gulf individuals turned net sellers to the tune of QR0.5mn compared with net buyers of QR0.64mn the previous day.

The foreign institutions’ net buying decreased noticeably to QR7.05mn against QR13.08mn on Monday.

The foreign individual investors’ net selling eased marginally to QR0.01mn compared to QR1.45mn on April 14.

The Arab institutions had no major net exposure for the second straight session.

The main market witnessed 48% plunge in trade volumes to 93.94mn shares, 35% in value to QR242.08mn and 35% in deals to 11,886.

In the junior bourse, trade volumes plummeted 93% to 0.06mn equities, value by 93% to QR0.18mn and transactions by 63% to 12.