The bullish outlook of foreign and domestic institutions helped the Qatar Stock Exchange snap a five-day bearish run on Wednesday as the key benchmark inched near 9,400 levels.
Stronger buying – especially at the transport, consumer goods, real estate, insurance and telecom counters – led the 20-stock Qatar Index to gain 0.56% to 9,360.59 points.
There was also substantial weakening of net selling pressure from Gulf institutions in the market, whose year-to-date losses were at 10.31%.
Islamic equities were however seen underperforming the main index and other indices in the bourse, which saw net profit-booking by local and non-Qatari retail investors.
Buying was skewed towards mid and small cap stocks in the market, which also saw lower buying support from Gulf individuals.
The market by and large witnessed selling pressure in the first 150 minutes, after which there was consistent steep gains to overall settle 52 points higher.
Trade turnover and volumes were on the decline in the market, where the telecom and banking sectors together accounted for more than 62% of the total volumes.
Market capitalisation gained 0.58%, or about QR3bn, to QR507.5bn as mid, small, large and microcap equities gained 0.84%, 0.65%, 0.52% and 0.31% respectively.
The Total Return Index rose 0.56% to 15,697.16 points, the All Share Index by 0.62% to 2,670.69 points and the Al Rayan Islamic Index by 0.52% to 3,749.9 points.
The transport index gained 1.96%, followed by consumer goods (1.1%), realty (1.07%), insurance (0.99%), telecom (0.88%) and banks and financial services (0.42%); while industrials were down 0.02%.
More than 52% of the traded stocks extended gains with major movers being Nakilat, Al Meera, Qatar Insurance, Gulf Warehousing, Ooredoo, QNB, Doha Bank, Commercial Bank, United Development Company, Ezdan and Salam International Investment.
Nevertheless, Gulf International Services, Qatar Oman Investment, Qatar Islamic Bank, Industries Qatar, Milaha, Vodafone Qatar, Mesaieed Petrochemical Holding and Mazaya Qatar were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR16.25mn compared with net sellers of QR6mn on August 1.
Domestic institutions were also net buyers to the extent of QR15.15mn against net profit-takers of QR28.85mn the previous day.
GCC (Gulf Cooperation Council) funds’ net selling weakened substantially to QR7.31mn compared to QR23.86mn on Tuesday.
However, local retail investors turned net sellers to the tune of QR23.13mn against net buyers of QR51.58mn on August 1.
Non-Qatari retail investors were also net sellers to the extent of QR0.99mn compared with net buyers of QR6.28mn the previous day.
GCC individual investors’ net buying declined perceptibly to QR0.05mn against QR0.82mn on Tuesday.
Total trade volumes fell 47% to 7.77mn shares, value by 13% to QR246.28mn and deals by 24% to 2,925.
There was a 59% fall in the real estate sector’s trade volume to 0.93mn equities, 54% in value to QR17.41mn and 48% in transactions to 355.
The telecom sector’s trade volume plummeted 57% to 3.47mn stocks, value by 57% to QR35.06mn and deals by 30% to 300.
The market witnessed a 38% shrinkage in the transport sector’s trade volume to 0.23mn shares, 26% in value to QR6.84mn and 25% in transactions to 244.
The banks and financial services sector’s trade volume tanked 36% to 1.35mn equities, value by 37% to QR56.99mn and deals by 40% to 698.
The industrials sector saw a 31% decline in trade volume to 0.93mn stocks, 26% in value to QR29.76mn and 20% in transactions to 686.
However, the consumer goods sector’s trade volume more than doubled to 0.59mn shares to see about a six-fold increase in value to QR85.81mn on a 73% expansion in deals to 494.
The insurance sector reported 65% surge in trade volume to 0.28mn equities, 53% in value to QR14.41mn and 17% in transactions to 148.
In the debt market, there was no trading of treasury bills and government bonds.
There was also substantial weakening of net selling pressure from Gulf institutions in the market, whose year-to-date losses were at 10.31%.
Islamic equities were however seen underperforming the main index and other indices in the bourse, which saw net profit-booking by local and non-Qatari retail investors.
Buying was skewed towards mid and small cap stocks in the market, which also saw lower buying support from Gulf individuals.
The market by and large witnessed selling pressure in the first 150 minutes, after which there was consistent steep gains to overall settle 52 points higher.
Trade turnover and volumes were on the decline in the market, where the telecom and banking sectors together accounted for more than 62% of the total volumes.
Market capitalisation gained 0.58%, or about QR3bn, to QR507.5bn as mid, small, large and microcap equities gained 0.84%, 0.65%, 0.52% and 0.31% respectively.
The Total Return Index rose 0.56% to 15,697.16 points, the All Share Index by 0.62% to 2,670.69 points and the Al Rayan Islamic Index by 0.52% to 3,749.9 points.
The transport index gained 1.96%, followed by consumer goods (1.1%), realty (1.07%), insurance (0.99%), telecom (0.88%) and banks and financial services (0.42%); while industrials were down 0.02%.
More than 52% of the traded stocks extended gains with major movers being Nakilat, Al Meera, Qatar Insurance, Gulf Warehousing, Ooredoo, QNB, Doha Bank, Commercial Bank, United Development Company, Ezdan and Salam International Investment.
Nevertheless, Gulf International Services, Qatar Oman Investment, Qatar Islamic Bank, Industries Qatar, Milaha, Vodafone Qatar, Mesaieed Petrochemical Holding and Mazaya Qatar were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR16.25mn compared with net sellers of QR6mn on August 1.
Domestic institutions were also net buyers to the extent of QR15.15mn against net profit-takers of QR28.85mn the previous day.
GCC (Gulf Cooperation Council) funds’ net selling weakened substantially to QR7.31mn compared to QR23.86mn on Tuesday.
However, local retail investors turned net sellers to the tune of QR23.13mn against net buyers of QR51.58mn on August 1.
Non-Qatari retail investors were also net sellers to the extent of QR0.99mn compared with net buyers of QR6.28mn the previous day.
GCC individual investors’ net buying declined perceptibly to QR0.05mn against QR0.82mn on Tuesday.
Total trade volumes fell 47% to 7.77mn shares, value by 13% to QR246.28mn and deals by 24% to 2,925.
There was a 59% fall in the real estate sector’s trade volume to 0.93mn equities, 54% in value to QR17.41mn and 48% in transactions to 355.
The telecom sector’s trade volume plummeted 57% to 3.47mn stocks, value by 57% to QR35.06mn and deals by 30% to 300.
The market witnessed a 38% shrinkage in the transport sector’s trade volume to 0.23mn shares, 26% in value to QR6.84mn and 25% in transactions to 244.
The banks and financial services sector’s trade volume tanked 36% to 1.35mn equities, value by 37% to QR56.99mn and deals by 40% to 698.
The industrials sector saw a 31% decline in trade volume to 0.93mn stocks, 26% in value to QR29.76mn and 20% in transactions to 686.
However, the consumer goods sector’s trade volume more than doubled to 0.59mn shares to see about a six-fold increase in value to QR85.81mn on a 73% expansion in deals to 494.
The insurance sector reported 65% surge in trade volume to 0.28mn equities, 53% in value to QR14.41mn and 17% in transactions to 148.
In the debt market, there was no trading of treasury bills and government bonds.