By Santhosh V Perumal
Business Reporter
The Qatar Stock Exchange yesterday inched near the 13,800 level, gaining for the second straight session, aided by foreign institutions’ substantial buying interests.
Increased net buying pressure from local retail and institutions notwithstanding, the 20-stock Qatar Index (based on price data) gained 1.15% to 13,780.59 points.
Non-Qatari individual investors were also strongly into profit-booking in the market, which is up 32.77% year-to-date.
The index that tracks Shariah-principled stock was seen gaining slower than the other indices in the bourse, where trading volume was largely skewed towards realty, banking and telecom stocks.
The Total Return Index rose 1.15% to 20,553.62 points, the All Share Index by 0.94% to 3,475.37 points and the Al Rayan Islamic Index by 0.45% to 4,584.69 points.
Market capitalisation expanded 1.15%, or more than QR8bn, to QR743.04bn.
Industrials stocks surged 2.45%, followed by banks and financial services (0.98%), transport (0.58%), telecom (0.22%) and consumer goods (0.12%), whereas insurance and realty fell 0.6% and 0.56% respectively.
Major movers included Industries Qatar, QNB, Gulf International Services, Qatari Investors Group, Commercial Bank, Masraf Al Rayan, Vodafone Qatar and Milaha.
However, Barwa, Untied Development Company and Gulf Warehousing were seen bucking the trend.
Foreign institutions’ net buying strengthened to QR125.57mn against QR11.84mn on Sunday.
Domestic institutions’ net profit-booking rose to QR19.1mn compared to QR12.73mn on November 2.
Qatari retail investors’ net selling surged to QR56.52mn against QR15.42mn the previous day.
Non-Qatari individual investors turned net sellers to the extent of QR49.95mn compared with net buyers of QR16.31mn on Sunday.
Total trade volume shrank 17% to 12.12mn shares and value by 4% to QR663.36mn; while transactions rose 4% to 6,414.
The insurance sector’s trade volume plummeted 68% to 0.51mn equities, value by 63% to QR27.59mn and deals by 50% to 263.
The market witnessed a 35% plunge in the real estate sector’s trade volume to 3.5mn stocks, 48% in value to QR87.3mn and 34% in transactions to 1,074.
The transport sector’s trade volume tanked 18% to 0.84mn shares, value by 29% to QR39.71mn and deals by 15% to 420.
The consumer goods sector saw its trade volume lose 2% to 1.22mn equities, value by 53% to QR35.52mn and transactions by 38% to 382.
The telecom sector’s trade volume was down less than 1% to 2.06mn stocks but value rose 22% to QR62.7mn and deals by 48% to 625.
However, the industrials sector’s trade volume surged 52% to 1.46mn stocks and value more than doubled to QR174.74mn on 67% expansion in transactions to 1,664.
The banks and financial services sector reported a 7% rise in trade volume to 2.53mn equities, 30% in value to QR235.79mn and 32% in deals to 1,986.
In the debt market, there was no trading of treasury bills and government bonds.
