US rate cut hopes lift QSE as index surges 117 points; M-cap adds QR7.31bn
The foreign institutions were seen bullish as the 20-stock Qatar Index shot up 1.16% to 10,222.81 points
The foreign institutions were seen bullish as the 20-stock Qatar Index shot up 1.16% to 10,222.81 points, recovering from an intraday low of 10,110 points, also factoring the surge in oil prices on account of rising Middle East tensions.
An across the board buying — particularly in the banks, insurance and transport counters — lifted the sentiments in the main market, whose year-to-date losses truncated to 5.61%.
More than 90% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR7.31bn or 1.25% to QR592.34bn on the back of large and midcap segments.
However, local retail investors were net sellers in the main market, which saw 3,660 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR9,431 trade across four deals.
The Gulf institutions were seen net profit takers in the main bourse, which saw no trading of treasury bills.
The foreign individuals turned bearish in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen gaining slower than the other indices in the main bourse, whose trade turnover and volumes were on the increase.
The Total Return Index zoomed 1.16%, the All Share Index by 1.21% and the All Islamic Index by 0.91% in the main market.
The banks and financial services sector index soared 1.52%, insurance (1.22%), transport (1.21%), real estate (1.15%), industrials (0.87%), consumer goods and services (0.65%) and telecom (0.5%).
Major gainers in the main market included QLM, Mazaya Qatar, Al Faleh Educational Holding, Alijarah Holding, Salam International Investment, QNB, Masraf Al Rayan, Lesha Bank, Dlala, Gulf International Services, Ezdan, Barwa and Nakilat.
Nevertheless, Mekdam, Medicare Group and Ahlibank Qatar were among the shakers in the main bourse. In the venture market, Al Mahhar Holding and Techno Q saw their shares depreciate in value.
The foreign institutions turned net buyers to the tune of QR48.92mn compared with net sellers of QR10.21mn on August 25.
However, the Qatari individuals were net sellers to the extent of QR30.42mn against net buyers of QR6.22mn the previous day.
The Gulf institutions turned net profit takers to the tune of QR7.94mn compared with net buyers of QR1.45mn on Sunday.
The foreign individuals were net sellers to the extent of QR4.03mn against net buyers of QR1.27mn on August 25.
The domestic funds turned net profit takers to the tune of QR2.93mn compared with net buyers of QR0.02mn the previous day.
The Arab retail investors were net sellers to the extent of QR1.96mn against net buyers of QR1.11mn on Sunday.
The Gulf individuals turned net profit takers to the tune of QR1.63mn compared with net buyers of QR0.15mn on August 25.
The Arab institutions had no major net exposure for the fourth straight session.
Trade volumes in the main market zoomed 43% to 183.87mn shares, value by 47% to QR362.03mn and transactions by 55% to 15,118.
The venture market saw 61% plunge in trade volumes to 1.07mn equities, 60% in value to QR2.5mn and 45% in deals to 135.
