By Santhosh V Perumal/Business Reporter
Local retail investors’ marginal buying interests yesterday sustained the bullish momentum on the Qatar Exchange for the second day.
Buying pressure was particularly visible in insurance, industrials and consumer goods as the 20-stock Qatar Index (based on price index) settled 0.15% higher at 11,418.76 points.
Buying was solely visible in the mid-cap segments in the market, where trading volumes rose and skewed towards industrials, real estate and banking sectors.
The index that tracks Shariah-principled stocks was seen gaining lesser than the other indices in the bourse, which is up 10.01% year-to-date.
The 20-stock Total Return Index rose 0.33% to 16,846.17 points, the All Share Index (with wider constituents) by 0.31% to 2,913.32 and the Al Rayan Islamic Index by 0.18% to 3,478.24 points.
All the three indices factored in dividend income as well.
Insurance stocks gained 2%, followed by industrials (1.64%), consumer goods (0.55) and telecom (0.11%), while banks and financial services fell 0.55%, realty 0.23% and transport lost 0.19%.
Major gainers included Industries Qatar, Gulf International Services, Vodafone Qatar, Qatari Investors Group and Widam Food; even as QNB, Doha Bank, Masraf Al Rayan, Mesaieed Petrochemical Holding and Barwa bucked the trend.
Market capitalisation fell 0.32%, or more than QR2bn, to QR638.29bn. Mid-cap equities gained 0.3%; while large, small and micro caps lost 0.78%, 0.72% and 0.15% respectively.
Qatari retail investors turned net buyers to the tune of QR1.17mn against net sellers of QR41.79mn on Monday.
Domestic institutions’ net buying was QR4.91mn compared to QR39.49mn the previous day.
Non-Qatari individual investors’ net buying amounted to QR1.87mn against QR8.9mn on Monday.
Foreign institutions’ net profit-taking was QR7.96mn compared to QR6.55mn the previous day.
Total trading volume rose 5% to 15.39mn stocks, value by 13% to QR779.92mn and transactions by 4% to 9,805.
The telecom sector’s trading volume zoomed 86% to 1.23mn equities, while value fell 29% to QR21.53mn, but deals were up 5% to 290.
The market witnessed a 54% surge in industrials sector’s trading volume to 5.61mn shares, 71% in value to QR324.13mn and 25% in transactions to 5,010.
The consumer goods sector’s trading volume soared 31% to 1.71mn stocks, but on a 3% fall in value to QR103.65mn. Deals rose 22% to 1,382.
The banks and financial services sector reported a 9% expansion in trading volume to 2.41mn equities and 15% in value to QR197.78mn but on a 4% decline in transactions to 1,581.
However, there was a 93% plunge in the transport sector’s trading volume to 0.06mn shares, 83% in value to QR4mn and 84% in deals to 77.
The insurance sector’s trading volume plummeted 52% to 0.25mn stocks, value by 52% to QR13.53mn and transactions by 41% to 230.
The real estate sector’s trading volume tanked 23% to 4.13mn equities, value by 17% to QR115.31mn and deals by 19% to 1,235.
In the debt market, there was no trading of treasury bills and government bonds.
