US rate-cut hopes lift QSE above 11,000 points; local and foreign retail investors turn bullish
The local retail investors were seen net buyers as the 20-stock Qatar Index rose 0.22% to 11,001.88 points, recovering from an intraday low of 10,951 points.
The local retail investors were seen net buyers as the 20-stock Qatar Index rose 0.22% to 11,001.88 points, recovering from an intraday low of 10,951 points.
The foreign retail investors turned bullish in the main market, whose year-to-date gains improved to 4.08%.
The telecom and transport counters witnessed higher than average demand in the main bourse, whose capitalisation added QR1.41bn or 0.21% to QR659.05bn; mainly on microcap segments.
The Gulf retail investors were increasingly net buyers in the main market, which saw as many as 0.15mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.38mn trade across 57 deals.
The domestic institutions continued to be net buyers but with lesser intensity in the main bourse, whose trade turnover and volumes were on the rise.
The Islamic index was seen gaining on par with the key barometer of the main market, which saw no trading of treasury bills.
The Gulf institutions were increasingly net profit takers in the main bourse, which saw no trading of sovereign bonds.
The Total Return Index gained 0.22%, the All Share Index by 0.13% and the All Islamic Index 0.22% in the main market.
The telecom sector index shot up 2.63% and transport 0.65%; while insurance declined 0.68%, consumer goods and services (0.36%), real estate (0.25%), industrials (0.03%) and banks and financial services (0.01%).
As many as 16 stocks gained, while 26 declined and 10 were unchanged.
Major gainers in the main market included Ooredoo, Nakilat, Qatar General Insurance and Reinsurance, Mekdam Holding, Dukhan bank, Estithmar Holding and Gulf Warehousing.
Nevertheless, Qatar Insurance, Inma Holding, Mazaya Qatar, Mannai Corporation, Qatar Oman Investment, Qatar German Medical Devices, Baladna and Ezdan were among the shakers in the main bourse.
In the venture market, Techno Q saw its shares depreciate in value.
The local retail investors turned net buyers to the tune of QR7.87mn compared with net sellers of QR13.97mn on September 28.
The foreign individual investors were net buyers to the extent of QR3.71mn against net sellers of QR1.03mn the previous day.
The Arab retail investors turned net buyers of QR1.53mn compared with net profit takers of QR1.03mn on Sunday.
The Gulf individual investors’ net buying strengthened marginally to QR0.99mn against QR0.61mn on September 28.
However, the Gulf funds’ net profit booking expanded perceptibly to QR14.68mn compared to QR13.42mn the previous day.
The foreign institutions’ net selling increased noticeably to QR1.48mn against QR0.2mn on Sunday.
The domestic institutions’ net buying weakened markedly to QR2.05mn compared to QR4.7mn on September 28.
The Arab institutions had no major net exposure for the second consecutive session.
The main market saw a 46% jump in trade volumes to 121.25mn shares and 49% in value to QR363.92mn on more than doubled deals to 25,597.
In the venture market, a total of 0.35mn equities valued at QR0.92mn changed hands across 101 transactions.