By Santhosh V. Perumal

Business Reporter

Foreign institutions’ strong buying interests overcame the selling pressure from local retail and institutional investors that the Qatar Stock Exchange inched towards the 12,000 mark.

Industrials stocks largely propelled the 20-stock Qatar Index (based on price data) 0.71% to 11,920.48 points amid fall in trade volumes.

Islamic stocks were seen gaining faster in the bourse, which is, however, down 2.97% year-to-date.

Non-Qatari retail investors were marginally bullish in the market, where telecom, banks, industrials and realty stocks cornered more than 93% of the total trading volume.

Market capitalisation rose 0.6% or about QR4bn to QR650.14bn with mid, small, large and micro cap equities gaining 0.68%, 0.61%, 0.46% and 0.37% respectively.

The Total Return Index gained 0.71% to 17,779.29 points, All Share Index by 0.65% to 3,064.68 points and Al Rayan Islamic Index by 0.9% to 4,052.12 points.

Industrials stocks appreciated 1.42%, real estate (0.66%), banks and financial services (0.46%), consumer goods (0.42%), transport (0.33%) and insurance (0.18%); while telecom fell 0.47%.

As much as 65% of the stocks extended gains with major movers being Industries Qatar, Aamal Company, Gulf International Services, Ezdan, Mazaya Qatar, Barwa, Commercial Bank, Doha Bank, Vodafone Qatar and Nakilat; but Ooredoo, Alijarah Holding and Islamic Holding Group bucked the trend.

Foreign institutions’ net buying soared to QR33.77mn against QR15.38mn the previous day.

Non-Qatari individual investors turned net buyers to the tune of QR2.65mn compared with net sellers of QR17.18mn on Monday.

However, Qatari retail investors turned net profit takers to the extent of QR11.47mn against net buyers of QR4.22mn on January 26.

Domestic institutions’ net selling surged to QR24.95mn compared to QR2.47mn the previous day.

Total trade volume was down 8% to 8.02mn shares, value by 9% to QR378.63mn and transactions by 14% to 5,314.

The transport sector’s trade volume plummeted 67% to 0.14mn stocks, value by 65% to QR4.71mn and deals by 48% to 155.

The insurance sector saw its trade volume plunge 60% to 0.04mn equities, value by 44% to QR2.87mn and transactions by 60% to 44.

The real estate sector’s trade volume tanked 57% to 1.26mn shares, value by 57% to QR35.1mn and deals by 47% to 618.

The market witnessed 55% decline in the consumer goods sector’s trade volume to 0.35mn stocks, 63% in value to QR10.66mn and 49% in transactions to 232.

The industrials sector saw its trade volume fall 12% to 1.3mn equities but value was up 1% to QR103mn. Deals were down 10% to 1,286.

However, the telecom sector’s trade volume more than tripled to 2.08mn shares and value more than quadrupled to QR43.04mn on more than tripled transactions to 914.

The banks and financial services reported 18% surge in trade volume 2.85mn stocks and value by 1% to QR179.26mn but on 17% fall in deals to 2,065.

In the debt market, there was no trading of treasury bills and government bonds.

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