The Qatar Stock Exchange opened the week on a stronger note with its key index surpassing the 10,900 mark, mainly lifted by the telecom, industrials, realty and banking stocks.

The domestic institutions’ net selling weakened considerably as the 20-stock Qatar Index rose 98 points, or 0.9%, for the fifth consecutive session to 10,916.99 points.

There was however strong profit-booking pressure from local retail investors and weaker buying support from foreign institutions in the market, whose year-to-date gains swelled to 4.6%.

Islamic stocks were seen underperforming the main index and other indices in the bourse, where Gulf and non-Qatari retail investors turned net sellers.

Trade turnover and volumes were on the decline in the market, where real estate, telecom and banking sectors together accounted for more than 80% of the total volumes.

Market capitalisation expanded more than QR6bn, or 1.09%, to QR585.7bn as large, micro and midcap equities gained 1.05%, 0.63% and 0.57% respectively; while small caps fell 0.15%.

The Total Return Index gained 0.9% to 17,721.41 points, the All Share Index by 0.86% to 2,996.81 points and the Al Rayan Islamic Index by 0.3% to 4,120.22 points.

The telecom sector saw its index surge 2.46%, followed by industrials (1.32%), realty (1.12%) and banks and financial services (0.8%); whereas transport declined 0.38%, consumer goods (0.1%) and insurance (0.02%).

As much as 60% of the stocks extended gains with major gainers being Ooredoo, Industries Qatar, Gulf International Services, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Mazaya Qatar, United Development Company, Barwa, Ezdan, QNB, Commercial Bank, QIIB, Qatar First Bank, Medicare Group and Qatar Industrial Manufacturing.

Nevertheless, Qatar Islamic Bank, Masraf Al Rayan, Qatari Investors Group, Vodafone Qatar, Nakilat and Al Meera were among the losers.

Domestic institutions’ net selling weakened considerably to QR33.17mn compared to QR179.77mn on February 16.

However, local retail investors’ net profit booking rose to QR16.31mn against QR5.11mn the previous trading day.

The GCC (Gulf Cooperation Council) institutions’ net buying fell perceptibly to QR33.45mn compared to QR40.69mn last Thursday.

Non-Qatari institutions’ net buying also declined to QR17.5mn against QR33.77mn on February 16.

Non-Qatari individual investors turned net sellers to the tune of QR0.14mn compared with net buyers of QR109.3mn the previous day.

The GCC retail investors were also net profit takers to the extent of QR1.33mn against net buyers of QR1.12mn last Thursday.

Total trade volume fell 11% to 11.83mn shares, value by 34% to QR350.65mn and deals by 13% to 4,340.

There was 92% plunge in the insurance sector’s trade volume to 0.28mn equities, 89% in value to QR16.19mn and 61% in transactions to 123.

The transport sector’s trade volume plummeted 48% to 0.28mn stocks, value by 60% to QR11.06mn and deals by 53% to 148.

The banks and financial services sector saw 20% shrinkage in trade volume to 2.22mn shares, 27% in value to QR94.8mn and 25% in transactions to 1,105.

The consumer goods sector’s trade volume tanked 15% to 0.58mm equities and value by 11% to QR45.33mn, while deals were up 9% to 619.

However, the industrials sector reported 57% surge in trade volume to 1.18mn stocks but on 17% decline in value to QR42.25mn and 3% in transactions to 810.

The telecom sector’s trade volume soared 54% to 2.77mn shares, value by 28% to QR31.84mn and deals by 23% to 433.

The market witnessed 36% expansion in the real estate sector’s trade volume to 4.51mn equities and 14% in value to QR109.18mn but on 3% fall in transactions to 1,102.

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

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