QSE Enters Sixth Day of Bull Run; M-Cap Adds QR5.62bn

The Iran-Israel truce and the US rate cut expectations Sunday led the Qatar Stock Exchange to gain more than 83 points, with capitalisation gaining in excess of QR5bn.

Bullish for the sixth straight session, the 20-stock Qatar Index rose 0.78% to 10,768.19 points, recovering from an intraday low of 10,684 points.

An across the board buying interests – notably in insurance, industrials and banks - was visible in the main market, whose year-to-date gains improved further to 1.86%.

About 89% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR5.62bn or 0.89% to QR636.66bn mainly on account of mid and small cap segments.

The Arab retail investors were seen increasingly net buyers in the main market, which saw 0.05mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.13mn trade across 27 deals.

The foreign individual investors turned bullish in the main bourse, whose trade turnover and volumes were on the decline.

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

The local retail investors’ weakened net profit booking had its influence on the main bourse, which saw no trading of sovereign bonds.

The Total Return Index rose 0.78%, the All Share Index by 0.89% and the All Islamic Index by 0.72% in the main market.

The insurance sector index shot up 2.7%, industrials (1.15%), banks and financial services (0.83%), consumer goods and services (0.78%), telecom (0.63%), transport (0.6%) and real estate (0.06%).

Major movers in the main market included Mannai Corporation, Qatar General Insurance and Reinsurance, Qatar Insurance, Gulf Warehousing, Baladna, Lesha Bank, Medicare Group, Industries Qatar, Gulf International Services, Qatar Electricity and Water and QLM.

In the junior bourse, Techno Q saw its shares appreciate in value.

Nevertheless, Al Mahhar Holding, Qatar German Medical Devices, Al Faleh Educational Holding and Ezdan were the shakers in the main market.

The Arab individual investors’ net buying increased notably to QR6.98mn compared to QR1.5mn last Thursday.

The foreign retail investors turned net buyers to the tune of QR1.19mn against net sellers of QR8.2mn the previous trading day.

The Arab institutions were net buyers to the extent of QR0.08mn compared with no major net exposure on June 26.

The local retail investors’ net selling decreased substantially to QR26.38mn against QR46.07mn last Thursday.

The domestic funds’ net selling weakened drastically to QR3.56mn compared to QR21.15mn the previous trading day.

The Gulf institutions’ net profit booking shrank significantly to QR2.11mn against QR12.75mn on June 26.

The Gulf retail investors’ net selling eased perceptibly to QR1.27mn compared to QR4.13mn last Thursday.

However, the foreign institutions’ net buying weakened drastically to QR25.15mn against QR90.79mn the previous trading day.

The main market saw a 6% fall in trade volumes to 182.76mn shares, 15% in value to QR404.07mn and 29% in deals to 14,455.

In the venture market, a total of 0.92mn equities valued at QR2.62mn changed hands across 193 transactions.