Qatar’s QSE inches towards 10,700 levels as demand soars for insurance, realty and banking stocks

Qatar’s QSE inches towards 10,700 levels as demand soars for insurance, realty and banking stocks

The Qatar Stock Exchange (QSE) Sunday opened the week on a stronger note with its key index gaining as much as 33 points to inch towards the 10,700 levels.

The insurance, real estate and banking counters witnessed higher than average demand as the 20-stock Qatar Index shot up 0.31% to 10,673.01 points.

The market, which was skewed towards movers, nevertheless retreated from an intraday high of 10,706 points.

The foreign institutions turned net buyers in the main market, whose year-to-date losses narrowed to mere 0.08%.

The foreign individuals were also seen bullish in the main bourse, whose capitalisation added QR2.06bn or 0.33% to QR624.7bn, mainly on account of midcap segments.

The Gulf institutions continued to be net buyers but with lesser intensity in the main market, which saw a total of 0.15mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.56mn changed hands across 22 deals.

The domestic institutions’ weakened net selling had its influence in the main bourse, which saw no trading of sovereign bonds.

The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.

The Total Return Index gained 0.31%, the All Share Index by 0.55% and the Al