Domestic Funds Lift QSE 41 Points, M-Cap Adds QR2.91Bn: Islamic Index Outperform

(MENAFN- Gulf Times) The Qatar stock exchange on Thursday rose about 41 points on the back of buying interests especially at the insurance, Telecom and Real estate counters.
The domestic funds turned bullish as the 20-stock Qatar index gained 0.38% to 10,660.12 points, although it touched an intraday high of 10,711 points.
About 65% of the traded constituents saw its shares appreciate in value in the main bourse, whose capitalisation added QR2.91bn or 0.47% to QR623.44bn on the back of midcap segments.
The Gulf institutions were seen net buyers in the main market, which saw as many as 1,464 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at mere QR0.01mn changed hands across three deals.
The local retail investors' weakened net selling had its influence on the main bourse, whose trade turnover and volumes were on the decline.
The Islamic index was seen outperforming the other indices of the main market, which saw no trading of treasury bills.
The foreign funds continued to be net buyers but with lesser intensity in the main bourse, which saw as many as 0.11mn sovereign bonds valued at QR1.06bn trade across three transactions.
The Total Return Index rose 0.38%, the All Share Index by 0.45% and the All Islamic Index by 0.53% in the main market.
The insurance sector index shot up 1.41%, telecom (1.29%), real estate (0.94%), banks and financial services (0.43%), industrials (0.35%), consumer goods and services (0.28%) and transport (0.2%).
Major gainers in the main market included Qatar General Insurance and Reinsurance, Vodafone Qatar, Baladna, Mesaieed Petrochemical Holding, Al Khaleej Takaful, Commercial Bank, Alijarah Holding, Al Faleh Educational Holding, Qatar National Cement, Qatar Industrial Manufacturing, Qatar Islamic Insurance, Mazaya Qatar and Barwa.
In the junior bourse, Al Mahhar Holding and Techno Q saw their shares depreciate in value.
Nevertheless, Inma Holding, Milaha, Doha Insurance, Ezdan and Industries Qatar were among the shakers in the main market.
The domestic funds turned net buyers to the tune of QR25.44mn compared with net profit takers of QR1.11mn on January 22.
The Gulf institutions were net buyers to the extent of QR3.65mn against net sellers of QR6.92mn the previous day.
The Qatari individual investors' net selling declined drastically to QR33.27mn compared to QR84.43mn on Wednesday.
However, the Arab individuals' net profit booking grew substantially to QR18.27mn against of QR5.27mn on January 22.
The foreign individuals were net sellers to the tune of QR7.71mn compared with net buyers of QR0.07mn the previous day.
The Gulf retail investors turned net profit takers to the extent of QR1.11mn against net buyers of QR0.84mn on Wednesday.
The foreign institutions' net buying weakened substantially to QR31.27mn compared to QR96.81mn on January 22.
The Arab institutions had no major net exposure for the fifth straight session.
Trade volumes in the main market shrank 12% to 205.8mn shares, value by 16% to QR579.65mn and deals by 24% to 18,501.
The venture market saw an 8% jump in trade volumes to 0.41mn equities and 5% in value to QR1.05mn but on 33% decline in transactions to 32.

MENAFN23012025000067011011ID1109123205