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Satyendra Pathak
Doha
Qatari stocks resumed upward momentum on Tuesday, along with global markets that rebounded on the new stimulus promised by the US Federal Reserve.
Aafter witnessing sharp losses in the last trading session, the Qatar Stock Exchange (QSE) main index gained 17.79 points, or 0.22 percent, when the bourse closed trading at 8,276.36 points Tuesday.
The volume of shares traded decreased QR 84.079 million from QR109.5 million on Monday and the value of shares decreased to QR292.457 million from QR330.821 million in the previous trading session.
Indices of all seven sectors closed in the positive territory on the day that saw the exchange’s market capitalisation rise by almost QR2 billion to QR468 billion.
The telecom index, which gained 2.88 percent on the back of more than 4 percent rise in its main constituent Ooredoo, was the performing sector index on the day.
Out of the 44 stocks traded on the day, as many as 31 stocks gained. While 12 stocks declined, there was no change in the share price of the remaining one stock.
Qatari Investors Group with a gain of 4.6 percent, Qatar General Insurance & Reinsurance (4.34 percent), Ooredoo (4.01 percent), Mannai Corporation (4.01 percent) and Ezdan Holding Group that gained 3.1 percent were the top five gainers on the day.
Qatar National Bank, Qatar Islamic Bank, Masraf Al Rayan, Qatar Electricity and Water Company and Commercial Bank were the top five traded stocks in terms of value for the day.
The day saw foreign retail investors turn net buyers to the tune of QR8.25 million compared with net sell of QR0.5 million in the previous trading session.
Foreign institutional investors, however, sold more then what they bought.
While Qatari investors accounted for 54.64 percent of total buy, the foreign investors accounted for 37.39 percent.
Meanwhile, Gulf government dollar bonds also posted gains on Tuesday after global markets rallied as investors bet the US Federal Reserve’s promise of unlimited dollar funding would ease strains on financial markets even if it could not stop the economic hit of the coronavirus epidemic.
The Qatar 30-year bonds due in 2049 were up 2.8 cents. Thirty-year bonds by Oman, one of the region’s weakest credits, due in 2048 were up 0.5 cents.
Doha
Qatari stocks resumed upward momentum on Tuesday, along with global markets that rebounded on the new stimulus promised by the US Federal Reserve.
Aafter witnessing sharp losses in the last trading session, the Qatar Stock Exchange (QSE) main index gained 17.79 points, or 0.22 percent, when the bourse closed trading at 8,276.36 points Tuesday.
The volume of shares traded decreased QR 84.079 million from QR109.5 million on Monday and the value of shares decreased to QR292.457 million from QR330.821 million in the previous trading session.
Indices of all seven sectors closed in the positive territory on the day that saw the exchange’s market capitalisation rise by almost QR2 billion to QR468 billion.
The telecom index, which gained 2.88 percent on the back of more than 4 percent rise in its main constituent Ooredoo, was the performing sector index on the day.
Out of the 44 stocks traded on the day, as many as 31 stocks gained. While 12 stocks declined, there was no change in the share price of the remaining one stock.
Qatari Investors Group with a gain of 4.6 percent, Qatar General Insurance & Reinsurance (4.34 percent), Ooredoo (4.01 percent), Mannai Corporation (4.01 percent) and Ezdan Holding Group that gained 3.1 percent were the top five gainers on the day.
Qatar National Bank, Qatar Islamic Bank, Masraf Al Rayan, Qatar Electricity and Water Company and Commercial Bank were the top five traded stocks in terms of value for the day.
The day saw foreign retail investors turn net buyers to the tune of QR8.25 million compared with net sell of QR0.5 million in the previous trading session.
Foreign institutional investors, however, sold more then what they bought.
While Qatari investors accounted for 54.64 percent of total buy, the foreign investors accounted for 37.39 percent.
Meanwhile, Gulf government dollar bonds also posted gains on Tuesday after global markets rallied as investors bet the US Federal Reserve’s promise of unlimited dollar funding would ease strains on financial markets even if it could not stop the economic hit of the coronavirus epidemic.
The Qatar 30-year bonds due in 2049 were up 2.8 cents. Thirty-year bonds by Oman, one of the region’s weakest credits, due in 2048 were up 0.5 cents.
