The Qatar Stock Exchange continued its upward path for the second straight session on Thursday mainly on buying interests in the industrials stocks.
Foreign institutions’ considerably weakened net selling pressure was visible as the 20-stock Qatar Index added 0.15% to 8,360.77 points.
Domestic as well as Gulf institutions and non-Qatari individuals continued to be net buyers but with lesser vigour in the market, whose year-to-date losses were at 19.89%.
Islamic equities were seen outperforming the main index and other indices in the bourse, whose capitalisation expanded 0.18% to QR456.42bn.
However, local and Gulf retail investors turned net profit-takers in the market, which saw four of the seven sectors under buying spotlight.
Recovering from initial losses, the market was on a buying mode for the next 15 minutes only to see selling in the next 30 minutes, leading the index touch a low of 8,330 points. Thereafter, the index was on a consistent upwards path with occasional selling, which was visibly stronger especially in the last few minutes.
Trade turnover declined amidst higher volumes in the market, where industrials, real estate and banking sectors together accounted for about 80% of the total volume.
The Total Return Index rose 0.15% to 14,020.51 points, the Al Rayan Islamic Index by 0.39% to 3,369.56 points and the All Share Index by 0.11% to 2,381.41 points.
The industrials index soared 1.03%, transport (0.21%), telecom (0.21%) and banks and financial services (0.05%); whereas insurance shrank 1.52%, realty (0.14%) and consumer goods (0.05%).
More than 63% of the traded stocks extended gains with major movers being Mazaya Qatar, Commercial Bank, Doha Bank, Industries Qatar, Gulf International Services, Qatari Investors Group and Alijarah Holding; even as Qatar Oman Investment, Qatar Insurance, QNB, Aamal Company and Ezdan were among the losers.
Non-Qatari institutions’ net selling weakened substantially to QR7.06mn compared to QR37.32mn on Wednesday.
Domestic institutions’ net buying weakened perceptibly to QR9.98mn against QR14.73mn the previous day.
Non-Qatari individual investors’ net buying declined to QR0.44mn compared to QR3.01mn on September 20.
GCC (Gulf Cooperation Council) funds’ net buying also fell considerably to QR0.1mn against QR9.17mn on Wednesday.
Local retail investors turned net sellers to the tune of QR3.27mn compared with net buyers of QR10.1mn the previous day.
GCC retail investors were also net profit-takers to the extent of QR0.2mn against net buyers of QR0.26mn on September 20.
Total trade volume rose 19% to 12.41mn shares, while value shrank 49% to QR167.77mn and deals by 11% to 2,344.
The transport sector’s trade volume almost tripled to 0.53mn equities and value more than doubled to QR13.63mn on almost-doubled transactions to 362.
There was a 64% surge in the real estate sector’s trade volume to 2.52mn stocks and 39% in value to QR29.33mn but on a 22% fall in deals to 282.
The consumer goods sector’s trade volume soared 63% to 0.26mn shares, while value shank 29% to QR7.27mn and transactions by 6% to 177.
The telecom sector reported a 53% increase in trade volume to 1.71mn equities, 26% in value to QR19.34mn and 34% in deals to 261.
The industrials sector’s trade volume expanded 43% to 4.97mn stocks, whereas value declined 61% to QR49.59mn and transactions by 9% to 614.
However, the insurance sector saw a 67% plunge in trade volume to 0.03mn shares and 61% in value to QR1.78mn but on an 18% higher deals to 53.
The banks and financial services sector’s trade volume tanked 38% to 2.39mn equities, value by 68% to QR46.83mn and transactions by 40% to 595.
In the debt market, there was no trading of treasury bills and government bonds.