Real Estate and Telecom Stocks Raise QSE to Nearly 11,200 Levels

The Qatar Stock Exchange continued its winning streak for the 10th consecutive session on Tuesday and its key index approached 11,200 levels, mainly driven by real estate and telecommunications meters.
Gulf institutions were seen as bullish as the Qatar 20-stock index climbed 33 points or 0.29% higher to 11,166.01 points, after recovering from an intraday low of 11,090 points .
The weakening of the net selling pressure of national institutions had its influence on the market, whose cumulative gains reached 7%.
About 49% of the traded components extended their gains to the exchange, whose capitalization increased by around QR 1 billion or 0.15% to QR 643.45 billion, mainly due to the mid-cap segments.
Foreign institutions remained net buyers but with less intensity in the market, which saw the industrial, banking and real estate sectors together constitute more than 78% of the total volume of trade.
Overall turnover and trading volume were down on the exchange, where local retail investors were increasingly net profit takers.
The Islamic index rose faster than other indices for the second day of the market, which saw a total of 212,316 exchange-traded funds (QATR sponsored by Masraf Al Rayan and QETF sponsored by Bank of Doha) valued at 2 , 2 million QR change hands on 26 transactions. .
The total return index rose 0.29% to 22,103.79 points, the All Share index increased by 0.19% to 3,541.02 points and the Islamic Al Rayan index (price) by 0.4 % to 2,529.27 points in the market which saw no trading in sovereign bonds and treasury bills.
The real estate sector index jumped 1.6%, telecoms (0.44%), banks and financial services (0.34%), insurance (0.29%) and transport (0.11 %); while consumer goods and services fell 0.57% and industrials 0.26%.
The main winners were United Development Company, al khaliji, Barwa, Commercial Bank, Qatar First Bank, Qatari German Medical Devices, Al Meera, Qamco. Qatar Insurance, Ezdan. Ooredoo and Milaha; although Zad Holding, Mannai Corporation, QLM, Doha Insurance, Salam International Investment, Medicare Group, Qatar Electricity and Water and Al Khaleej Takaful were among the losers.
Gulf funds turned net buyers of QR 4.69 million against net sellers of QR 9.23 million on August 23.
Net sales of domestic funds dropped significantly to QR 36.05 million from QR 56.99 million the previous day.
However, net sales of local retail investors notably rose to QR 28.76 million from QR 24.5 million on Monday.
The Arab individuals were net sellers of QR 6.38 million against net buyers of QR 4.72 million on August 23.
The reservation of net profits from individuals in the Gulf has clearly strengthened to 2.05 mn QR compared to 1.15 mn QR the day before.
Foreign individuals became net sellers at QR 1.38 million against net buyers of QR 6.54 million on Monday.
Net purchases by foreign institutions weakened considerably to QR 69.92 million from QR 80.6 million on August 23.
Arab institutions had no major net exposure for the third consecutive session.
Total trade volume fell 13% to 135.35 million shares and value 13% to Q374.28 million, while trades increased 8% to 10,121.
The trade volume of the consumer goods and services sector fell 53% to 17.27 million shares, a value of 38% to QR31.04 million, and transactions 37% to 703.
The transportation sector saw a 53% drop in trade volume to 5.21 million shares, 48% in value to QR 20.38 million and 36% in trades to 514.
The industrial sector’s trade volume fell 16% to 49.66 million shares, a value of 28% to QR80.45 million, and transactions 14% to 2,214.
The banking and financial services sector saw a 5% contraction in trading volume to 32.44 million shares and 3% in value to QR 186.03 million but a 17% growth in transactions to 4 218.
However, the real estate sector’s trade volume more than doubled to 23.85 million shares and the value nearly tripled to QR 37.52 million on deals more than tripled to 2,047.
The market saw a 5% increase in the trade volume of the insurance sector to 3.66 million shares, but a 5% contraction in value to QR 9.13 million and 23% in transactions at 160.
The trade volume of the telecommunications sector increased by less than 1% to 2.96 million shares, while the value fell 39% to QR 9.72 million and deals 43% to 265.
In the venture capital market, Al Faleh has remained unchanged; while Mekdam Holding was won.

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