Amidst rising expectations of interest rate cut in the US, the 20-stock Qatar Index rose 0.2% to 10,155.75 points, but recovering from an intraday low of 10,096 points
Amidst rising expectations of interest rate cut in the US, the 20-stock Qatar Index rose 0.2% to 10,155.75 points, but recovering from an intraday low of 10,096 points.
The telecom, real estate, transport, insurance and industrials counters saw higher than average demand in the main market, whose year-to-date losses truncated to 6.23%.
As much as 49% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR1.17bn or 0.2% to QR587.77n on the back of small and microcap segments.
The Arab individuals turned net buyers in the main market, which saw 1,220 exchange traded funds (sponsored by Doha Bank) valued at QR0.01mn trade across two deals.
The Gulf retail investors were seen bullish, albeit at lower levels, in the main bourse, which saw no trading of treasury bills.
The foreign funds’ weakened net profit booking had its influence in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen outperforming the other indices in the main bourse, whose trade turnover and volumes were on the incline.
The Total Return Index was up 0.2%, the All Islamic Index by 0.43% and the All Share Index by 0.15% in the main market.
The telecom sector index shot up 2.09%, realty (0.79%), transport (0.43%), insurance (0.37%) and industrials (0.34%); while banks and financial services declined 0.19% and consumer goods and services 0.17%.
Major movers in the main bourse included Ooredoo, Qatar Oman Investment, United Development Company, Mesaieed Petrochemical Holding, Doha Insurance, Qamco, Al Khaleej Takaful, Mazaya Qatar and Nakilat. In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.
Nevertheless, Widam Food, Inma Holding, Beema, QIIB and Mannai Corporation were among the shakers in the main bourse.
The Arab individual investors were net buyers to the tune of QR4.06mn compared with net sellers of QR1.29mn on August 18.
The Gulf individuals turned net buyers to the extent of QR0.2mn against net profit takers of QR0.36mn the previous day.
The Qatari individual investors’ net selling declined substantially to QR2.73mn compared to QR12.04mn on Sunday.
The foreign institutions’ net profit booking weakened noticeably to QR1.68mn against QR6.57mn on August 18.
However, the foreign individuals’ net selling increased perceptibly to QR1.65mn compared to QR0.93mn the previous day.
The Arab institutions were net profit takers to the tune of QR0.04mn against no major net exposure on Sunday.
The domestic institutions’ net buying decreased considerably to QR1.36mn compared to QR14.42mn on August 18.
The Gulf institutions’ net buying lessened notably to QR0.49mn against QR6.67mn the previous day.
Trade volumes in the main market were up 1% to 95.34mn shares, value by 2% to QR224.76mn and transactions by 15% to 10,032.
The venture market saw 82% plunge in trade volumes to 2.09mn equities and 80% in value to QR4.38mn but on 1% jump in deals to 148.
