Qatar: QSE edges up as Gulf funds boost net buying

Qatar: QSE edges up as Gulf funds boost net buying

The Qatar Stock Exchange Thursday gained about 13 points, paced mainly by the insurance and transport sectors.

The Gulf institutions were increasingly net buyers as the 20-stock Qatar Index rose 0.12% to 10,741.82 points.

The market, which was rather skewed towards decliners, had recovered from an intraday low of 10,688 points.

The domestic funds were seen net buyers in the main market, whose year-to-date gains increased to 0.57%.

The Gulf retail investors turned bullish on the main bourse, whose capitalisation was up QR0.61bn or 0.1% to QR629.01bn, mainly on account of microcap segments.

However, Qatari individuals were increasingly net sellers in the main market, which saw a total of 0.16mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.42mn changed hands across 11 deals.

The Arab retail investors were also seen bearish in the main bourse, which saw no trading of sovereign bonds.

The Islamic index was seen declining vis-à-vis gains in the other indices in the main market, which saw no trading of treasury bills.

The Total Return Index rose 0.12% and the All Share Index by 0.25%, while the Al Rayan Islamic Index (Price) was down 0.05% in the main bourse, whose trade turnover and volumes were on the decline.

The insurance