QSE jumps 145 points; M-cap adds QR10bn as more than 51% stocks extend gains

QSE jumps 145 points; M-cap adds QR10bn as more than 51% stocks extend gains

The Qatar Stock Exchange on Thursday gained 145 points and its key barometer inched towards 12,700 points, mainly led by banks and financial services sector.

More than 51% of the traded constituents extended gains as the 20-stock Qatar Index settled 1.15% higher at 12,695.27 points, although it touched an intraday high of 12,759 points.

The weakened net selling pressure from both local retail investors and domestic funds had its influence in the market, whose year-to-date gains improved to 9.2%.

The foreign institutions continued to be net buyers but with lesser intensity in the bourse, whose capitalisation added QR10.05bn or 1.45% to QR705.34bn, mainly on the back of large and midcap segments.

The Islamic index gained slower than the other indices in the market, which saw a total of 0.11mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.24mn changed hands across 38 deals.

Trade turnover and volumes were seen decreasing in both the main and venture markets.

The Gulf individuals’ net selling was seen weakening in the bourse, which saw no trading of sovereign bonds.

The Arab retail investors’ net profit booking weakened in the market, which saw no trading of treasury bills.

The Total Return Index shot up 1.15% to 26,004.03 points,