QSE Sees 82% Constituents Make Gains; Index Crosses 10,600 Levels; M-Cap Adds QR5.69bn

The Qatar Stock Exchange (QSE) on Tuesday saw more than 82% of the traded constituents extend gains, leading to 134 points surge in the main index, which settled above 10,600 levels.

An across the board buying lifted the 20-stock Qatar Index 1.28% to 10,618.02 points, recovering from an intraday low of 10,493 points.

The foreign institutions turned net buyers in the main market, which returned 0.44% gains year-to-date.

The Gulf funds were increasingly bullish in the main bourse, whose capitalisation added QR5.69bn or 0.92% to QR626.29bn mainly on account of midcap segments.

The transport, telecom and industrials counters experienced higher than average demand in the main market, which saw as many as 0.03mn exchange traded funds (sponsored by AlRayan Bank) valued at QR0.07mn trade across 18 deals.

The foreign retail investors turned net buyers in the main bourse, whose trade turnover and volumes were on the rise.

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

The Arab institutions were seen net buyers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index gained 1.28%, the All Islamic Index (1.43%) and the All Share Index (1%) in the main market.

The transport sector index shot up 2.72%, telecom (1.98%), industrials (1.83%), real estate (0.78%), consumer goods and services (0.57%), banks and financial services (0.47%) and insurance (0.03%).

Major gainers in the main market included Dlala, Nakilat, Widam Food, Gulf International Services, Vodafone Qatar, Commercial Bank, Qatar Islamic Bank, AlRayan Bank, Inma Holding, Qatar German Medical Devices, Al Faleh Educational Holding, Industries Qatar, Qamco, Ooredoo and Milaha.

Nevertheless, QNB, Qatar Islamic Insurance, Qatari Investors Group, Meeza and Ahlibank Qatar were among the shakers in the main bourse.

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

The foreign institutions turned net buyers to the tune of QR12.61mn compared with net sellers of QR30.39mn on June 2.

The Gulf institutions’ net buying strengthened significantly to QR6.83mn against QR1.42mn the previous day.

The foreign retail investors were net buyers to the extent of QR1.64mn compared with net sellers of QR0.2mn on Monday.

The Arab institutions turned net buyers to the tune of QR0.32mn against no major net exposure on June 2.

The Arab individual investors’ net selling declined noticeably to QR4.16mn compared to QR7.75mn the previous day.

However, the local retail investors were net sellers to the extent of QR33.75mn against net buyers of QR13.65mn on Monday.

The domestic institutions’ net buying weakened noticeably to QR15.53mn compared to QR21.7mn on June 2.

The Gulf retail investors’ net buying eased perceptibly to QR0.99mn against QR1.56mn the previous day.

The main market saw 27% jump in trade volumes to 184.24mn shares and 16% in value to QR439.35mn but on 20% decline in deals to 22,265.

In the venture market, a total of 36,780 equities valued at QR0.1mn changed hands across nine transactions.