Strong buying interests of local and non-Qatari retail investors lifted the Qatar Stock Exchange above 8,200 levels, apparently taking cue from Premier’s assurance on reinvigorating private sector.
Transport, industrials and telecom counters witnessed robust demand, which led the 20-stock Qatar Index gain for the second straight session by 0.93% to 8,212.86 points.
Islamic equities were seen under-performing the main index on the bourse, whose year-to-date losses were at 21.31%.
However, foreign funds turned bearish and there was increased net selling by their domestic counterparts in the market, whose capitalisation grew 0.73% to QR447.51bn.
The initial strong gains in the first 60 minutes led the index touch near 8,250 points, after which profit booking ensued but overall it settled 75 points higher. Not only there was technical gains, the market also factored in the new initiatives announced by the government for the private sector.
Trade turnover and volumes were on the increase on the bourse, where real estate and banking sectors together accounted for more than 67% of the total volume.
The Total Return Index gained 0.93% to 13,772.48 points, All Share Index by 0.48% to 2,308.46 points and Al Rayan Islamic Index by 0.72% to 3,296.97 points.
The transport index soared 1.88%, industrials (1.35%), telecom (1.15%), banks and financial services (0.57%), consumer goods (0.34% and insurance (0.27%); while realty shrank 1.62%.
About 78% of the stocks extended gains with major movers being Commercial Bank, Doha Bank, Ahli Bank, Industries Qatar, Aamal Company, Qatari Investors Group, Qatar Electricity and Water, Ooredoo, Vodafone Qatar, Milaha and Nakilat; whereas Qatar First Bank, Ezdan, Mazaya Qatar, Islamic Holding Group and Qatar Islamic Insurance were among the losers.
Local retail investors turned net buyers to the tune of QR30.6mn against net sellers of QR27.14mn the previous day.
Non-Qatari individual investors were also net buyers to the extent of QR8.37mn compared with net sellers of QR0.29mn on Sunday.
The GCC (Gulf Cooperation Council) retail investors’ net buying strengthened to QR0.56mn compared to QR0.18mn on October 5.
The GCC funds’ net profit booking weakened marginally to QR5.47mn against QR6.59mn against the previous day.
However, domestic institutions’ net selling increased influentially to QR19.03mn compared to QR6.33mn on Sunday.
Non-Qatari institutions turned net sellers to the tune of QR14.99mn against net sellers of QR40.18mn on October 5.
Total trade volume rose 46% to 10.13mn shares and value by 2% to QR186.04mn, while deals were down 6% to 2,449.
The insurance sector’s trade volume more than quadrupled to 0.21mn equities and value grew more than six-fold to QR10.57mn on more than quadrupled transactions to 192.
The real estate sector’s trade volume more than tripled to 3.45mn stocks and value doubled to QR39.41mn on 67% increase in deals to 704.
The banks and financial services sector saw 61% surge in trade volume to 3.34mn shares but on 3% fall in value to QR89.77mn and 21% in transactions to 696.
The consumer goods sector’s trade volume expanded 18% to 0.4mn equities, whereas value shrank 21% to QR8.29mn and deals by 27% to 123.
However, there was 54% plunge in the transport sector’s trade volume to 0.16mn stocks, 76% in value to QR2.57mn and 51% in transactions to 147.
The industrials sector’s trade volume plummeted 17% to 1.45mn shares, value by 25% to QR25.36mn and deals by 16% to 463.
The telecom sector reported 15% shrinkage in trade volume to 1.12mn equities, 29% in value to QR10.07mn and 48% in transactions to 124.
In the debt market, there was no trading of treasury bills and government bonds.
