Equity investments in banks reinforce QSE sentiment

The Qatar Stock Exchange opened the week on a stronger note on Sunday as its key index gained more than 99 points to exceed 13,700 levels, mainly thanks to strong buying at the bank counter.
Arab individuals became net buyers as Qatar’s 20-stock index stood 0.73% higher at 13,731.33 points, despite hitting an intraday high of 13,764 points.
The Islamic index was seen gaining more slowly than other indices in the market, whose year-to-date gains were 18.11%.
Weakened net selling from local retail investors had its influence on the market, whose capitalization increased by more than QR 4 billion or 0.57% to reach QR 774.48 billion, mainly driven by the small cap segments .
National institutions have significantly weakened net selling also had its role in the stock market, where the industrial sector alone accounted for more than 52% of trading volume.
Foreign institutions continued to be net buyers, but with less intensity in the market, which saw a total of 615,018 exchange-traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at $8.05 million. QR change hands through 160 transactions.
Similarly, Gulf funds also continued to be bearish but with less strength on the stock market, which saw no sovereign bond trading.
Total trading turnover and volumes were down in the market, which saw no trading in Treasuries.
The Total Return Index gained 0.73% to 28,016.37 points, the All Share Index by 0.66% to 4,384.36 points and the Al Rayan Islamic Index (Price) by 0.76% to 2,976 .79 points.
The banking and financial services index jumped 1.18%, real estate (0.57%), insurance (0.27%), consumer goods and services (0.24%) and industrial (0.09%); while transport fell by 0.81% and telecoms (0.52%).
The main winners in the main market are Qatari German Medical Devices, Widam Food, Qamco, Qatar Islamic Bank, QIIB, Gulf International Services, Investment Holding Group, Qatar Islamic Insurance, Ezdan and Barwa.
Nevertheless, Qatar General Insurance and Reinsurance, Inma Holding, Medicare Group, Nakilat, Mannai Corporation and Ooredoo were among the losers in the core market. In the venture capital market, Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate.
Arab individuals were net buyers at QR 18.66 million against net sellers of QR 10.14 million on March 24.
Arab institutions became net buyers of QR 0.01 million from net profit takers of QR 0.11 million last Thursday.
The net sale of domestic funds decreased significantly to QR 147.12 million from QR 239.94 million on the previous trading day.
Qatari retail net profit bookings fell sharply to QR 19.54 million from QR 67.53 million on March 24.
However, Gulf individuals were net sellers at QR 0.07 million compared to net buyers of QR 0.68 million last Thursday.
Net purchases by overseas institutions decreased significantly to QR 79.2 million from QR 205.82 million on the previous trading day.
Net purchases by Gulf institutions weakened significantly to QR 67.38 million from QR 108.73 million on March 24.
Net purchases by overseas individuals contracted significantly to QR 1.49 million from QR 2.44 million last Thursday.
Total trading volume in the main market fell 17% to 225.74 million shares, value fell 28% to QR 818.26 million, and trades fell 24% to 16,484.
The real estate sector reported a 46% drop in trading volume to 19.51 million shares, 52% in value to 29.94 million QR and 33% in trades to 959.
The trading volume of the banking and financial services sector fell by 39% to 38.49 million shares, the value by 42% to 332.61 million QR and transactions by 32% to 6,615.
There was a 27% contraction in transport sector trading volume to 4.62 million shares and 6% in value to 25.9 million QR, but a 12% increase in trades to 1,144 .
The telecom sector’s trading volume fell 24% to 1.91 million shares, value fell 5% to 8.69 million QR and trades fell 3% to 689.
The market saw a contraction of 4% in industrial sector trading volume to 117.93 million shares, 14% in value to 309.21 million QR and 34% in trades to 4,191.
However, the trade volume of the consumer goods and services sector increased by 5% to 36.49 million shares, the value by 16% to 93.66 million QR and transactions by 23% to 2,319.
The insurance sector saw a 2% increase in trading volume to 6.8 million shares, but an 11% decline in value to QR 18.26 million despite trades up 23% at 567.
In the venture capital market, trading volumes more than quadrupled to 0.89 million shares and value more than tripled to QR 6.07 million on a 71.72% increase in transactions at 170.

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