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Qatar Stock Exchange Sees Turnaround with Domestic Institutions' Buying Interests

Strategic Insights

— 1 min read

The Qatar Stock Exchange experienced a turnaround after four consecutive days of bearish run, thanks to increased buying interests from domestic institutions. The key index of the exchange rose by 0.32% to 11,342.57 points, recovering from an intraday low of 11,267 points. The year-to-date gains of the main market improved to 7.3%, while the capitalisation of the exchange added QR1.48bn or 0.22% to QR675.72bn mainly due to microcap segments.

Key Takeaways:

  • The Qatar Stock Exchange's key index rose by 0.32% to 11,342.57 points, recovering from an intraday low of 11,267 points.
  • Domestic institutions were net buyers to the tune of QR5.94mn, compared to net sellers of QR22.24mn the previous day.
  • The transport sector index rose 0.87%, insurance (0.81%), telecom (0.8%), banks and financial services (0.2%), industrials (0.19%) and consumer goods and services (0.1%), while real estate fell 0.25%.
  • Major gainers in the main market included Qatar Islamic Bank, Medicare Group, Qatar Insurance, Nakilat, Ezdan, Commercial Bank, Doha Bank, Meeza, Qamco, and Ooredoo.
  • The local individuals were sellers to the extent of QR2.18mn compared to net buyers of QR33.03mn on Wednesday.

Statistics:

  • The main market saw a 7% contraction in trade volumes to 126.15mn shares.
  • The value of trade in the main market decreased by 6% to QR346.36mn.
  • The exchange saw no trading of treasury bills in the main market.
  • Qatar Islamic Bank's shares increased by 4.52%, making it a major gainer in the main market.
  • The total return index gained 0.36%, the All Share Index by 0.28%, and the All Islamic Index by 0.13% in the main market.

Sources:

  • Qatar Stock Exchange (no date)
  • AlRayan Bank (no date)
  • Doha Bank (no date)

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