Qatar Stock Exchange on Thursday snapped three days of bearish trend, despite decliners outnumbering gainers.
Stronger buying in realty, insurance and consumer goods led the 20-stock Qatar Index gain 0.39% to 9,939.58 points.
The market witnessed spasmodic upward and downward gyrations in the first 90 minutes to touch a low of near 9,880 points, after which it was generally on a rising trend with strong buying pressure being seen in the last few minutes. Thus, the index overall settled 38 points higher against the previous close.
A marginal bullish pressure from foreign institutions and Gulf individuals as well as substantially lower net selling from Gulf institutions were instrumental in an overall bullish momentum in the bourse, whose year-to-date losses were pruned to 4.76%.
Islamic stocks were seen outperforming the main index in the market, which however saw local and non-Qatari retail investors turn bearish.
Buying was skewed towards midcap segments in the bourse, which also saw lower net buying by domestic institutions.
Trade turnover and volumes however were on the decline in the market, where real estate, telecom and banking sectors together accounted for about 88% of the total volumes.
Market capitalisation expanded more than QR2bn or 0.41% to QR530.71bn as mid and large cap scrips gained 0.53% and 0.29%; whereas small and microcaps declined 0.43% and 0.41% respectively.
The Total Return Index rose 0.39% to 16,668.09 points, All Share Index by 0.63% to 2,787.36 points and Al Rayan Islamic Index by 0.53% to 3,991.33 points.
The realty index soared 3.1%, insurance (1.17%), consumer goods (0.69%), industrials (0.43%) and banks and financial services (0.35%); while telecom and transport declined 1.98% and 0.73% respectively.
Major gainers included Ezdan, Barwa, Qatar Insurance, Industries Qatar, Gulf International Services, Qatar Islamic Bank, Commercial Bank, Ahli Bank, Masraf Al Rayan, Qatar First Bank, Woqod, Salam International Investment and Mesaieed Petrochemical Holding.
Nevertheless, more than 55% of the stocks were in the red with major losers being Ooredoo, Gulf Warehousing, Milaha, Nakilat, Aamal Company, Al Khaleej Takaful, Dlala, al khaliji and Qatari German Company for Medical Devices.
Non-Qatari institutions turned net buyers to the extent of QR0.9mn compared with net profit takers of QR55.01mn on Wednesday.
The GCC (Gulf Cooperation Council) individuals were net buyers to the tune of QR0.08mn against net sellers of QR0.19mn on May 31.
The GCC institutions’ net profit booking fell substantially to QR11.21mn compared to QR22.83mn the previous day.
However, local retail investors turned net sellers to the extent of QR2.65mn against net buyers of QR47.93mn on Wednesday.
Non-Qatari retail investors were also net sellers to the tune of QR3.28mn compared with net buyers of QR1.83mn on May 31.
Domestic institutions’ net buying weakened perceptibly to QR16.21mn against QR28.28mn the previous day.
Total trade volumes fell 61% to 6.92mn shares, value by 60% to QR190.91mn and deals by 41% to 2,871.
The banks and financial services sector saw 80% plunge in trade volume to 1.43mn equities, 66% in value to QR77.47mn and 54% in transactions to 790.
The insurance sector’s trade volume plummeted 79% to 0.07mn stocks, value by 80% to QR4.4mn and deals by 33% to 151.
There was 67% shrinkage in the industrials sector’s trade volume to 0.25mn shares, 78% in value to QR15.72mn and 61% in transactions to 252.
The transport sector’s trade volume tanked 60% to 0.4mn equities, value by 55% to QR17.6mn and deals by 18% to 245.
The telecom sector reported 50% slump in trade volume to 1.44mn stocks, 42% in value to QR22.83mn and 1% in transactions to 409.
The consumer goods sector’s trade volume shrank 42% to 0.14mn shares, value by 40% to QR6.72mn and deals by 47% to 115.
The market witnessed 41% decline in the real estate sector’s trade volume to 3.19mn equities, 32% in value to QR46.16mn and 30% in transactions to 9,09.
In the debt market, there was no trading of treasury bills and government bonds.
The market witnessed spasmodic upward and downward gyrations in the first 90 minutes to touch a low of near 9,880 points, after which it was generally on a rising trend with strong buying pressure being seen in the last few minutes. Thus, the index overall settled 38 points higher against the previous close.
A marginal bullish pressure from foreign institutions and Gulf individuals as well as substantially lower net selling from Gulf institutions were instrumental in an overall bullish momentum in the bourse, whose year-to-date losses were pruned to 4.76%.
Islamic stocks were seen outperforming the main index in the market, which however saw local and non-Qatari retail investors turn bearish.
Buying was skewed towards midcap segments in the bourse, which also saw lower net buying by domestic institutions.
Trade turnover and volumes however were on the decline in the market, where real estate, telecom and banking sectors together accounted for about 88% of the total volumes.
Market capitalisation expanded more than QR2bn or 0.41% to QR530.71bn as mid and large cap scrips gained 0.53% and 0.29%; whereas small and microcaps declined 0.43% and 0.41% respectively.
The Total Return Index rose 0.39% to 16,668.09 points, All Share Index by 0.63% to 2,787.36 points and Al Rayan Islamic Index by 0.53% to 3,991.33 points.
The realty index soared 3.1%, insurance (1.17%), consumer goods (0.69%), industrials (0.43%) and banks and financial services (0.35%); while telecom and transport declined 1.98% and 0.73% respectively.
Major gainers included Ezdan, Barwa, Qatar Insurance, Industries Qatar, Gulf International Services, Qatar Islamic Bank, Commercial Bank, Ahli Bank, Masraf Al Rayan, Qatar First Bank, Woqod, Salam International Investment and Mesaieed Petrochemical Holding.
Nevertheless, more than 55% of the stocks were in the red with major losers being Ooredoo, Gulf Warehousing, Milaha, Nakilat, Aamal Company, Al Khaleej Takaful, Dlala, al khaliji and Qatari German Company for Medical Devices.
Non-Qatari institutions turned net buyers to the extent of QR0.9mn compared with net profit takers of QR55.01mn on Wednesday.
The GCC (Gulf Cooperation Council) individuals were net buyers to the tune of QR0.08mn against net sellers of QR0.19mn on May 31.
The GCC institutions’ net profit booking fell substantially to QR11.21mn compared to QR22.83mn the previous day.
However, local retail investors turned net sellers to the extent of QR2.65mn against net buyers of QR47.93mn on Wednesday.
Non-Qatari retail investors were also net sellers to the tune of QR3.28mn compared with net buyers of QR1.83mn on May 31.
Domestic institutions’ net buying weakened perceptibly to QR16.21mn against QR28.28mn the previous day.
Total trade volumes fell 61% to 6.92mn shares, value by 60% to QR190.91mn and deals by 41% to 2,871.
The banks and financial services sector saw 80% plunge in trade volume to 1.43mn equities, 66% in value to QR77.47mn and 54% in transactions to 790.
The insurance sector’s trade volume plummeted 79% to 0.07mn stocks, value by 80% to QR4.4mn and deals by 33% to 151.
There was 67% shrinkage in the industrials sector’s trade volume to 0.25mn shares, 78% in value to QR15.72mn and 61% in transactions to 252.
The transport sector’s trade volume tanked 60% to 0.4mn equities, value by 55% to QR17.6mn and deals by 18% to 245.
The telecom sector reported 50% slump in trade volume to 1.44mn stocks, 42% in value to QR22.83mn and 1% in transactions to 409.
The consumer goods sector’s trade volume shrank 42% to 0.14mn shares, value by 40% to QR6.72mn and deals by 47% to 115.
The market witnessed 41% decline in the real estate sector’s trade volume to 3.19mn equities, 32% in value to QR46.16mn and 30% in transactions to 9,09.
In the debt market, there was no trading of treasury bills and government bonds.
