The Qatar Stock Exchange snapped four days of bearish spell, mainly on the back of strong buying in insurance, real estate and transport equities.
Local retail investors and Gulf institutions turned bullish as the 20-stock Qatar Index gained 0.34% to 8,172.18 points.
Islamic equities saw faster gains in the bourse, which however witnessed 21.7% losses year-to-date.
There was also increased buying support from the Gulf individuals in the market, whose capitalisation gained 0.55% to QR446.27bn.
The market saw a roller-coaster drive during the entire trading session with the index once touching a low of about 8,120 points before settling 28 points higher.
Trade turnover shrank amidst higher volumes in the bourse, where the banking sector alone accounted for more than 64% of the total volume.
The Total Return Index rose 0.34% to 13,704.27 points, the Al Rayan Islamic Index by 0.43% to 3,242.28 points and the All Share Index by 0.6% to 2,295.76 points.
The insurance index soared 2.04%, followed by realty (1.64%), transport (0.71%), banks and financial services (0.56%) and telecom (0.33%); whereas consumer goods and industrials fell 0.28% and 0.14% respectively.
Major gainers included Qatar Insurance, Ezdan, Gulf Warehousing, Qatar Islamic Bank, Ahli Bank, Doha Bank, Qatar First Bank and Gulf International Services; while Alijarah Holding, Qatari German Company for Medical Devices, Qatari Investors Group, Mesaieed Petrochemical Holding, Barwa and Vodafone Qatar were among the losers.
Local retail investors turned net buyers to the tune of QR1.93mn compared with net sellers of QR2.38mn on October 18.
The GCC (Gulf Cooperation Council) retail investors’ net buying rose to QR1.09mn against QR0.39mn on Wednesday.
The GCC institutions were net buyers to the extent of QR0.16mn compared with net sellers of QR4.25mn the previous day.
However, domestic institutions’ net selling strengthened marginally to QR18.49mn against QR18.01mn on October 18.
Non-Qatari individual investors were net sellers to the tune of QR2.86mn compared with net buyers of QR0.11mn on Wednesday.
Non-Qatari institutions’ net buying declined perceptibly to QR18.17mn against QR24.14mn the previous day.
Total trade volume rose 72% to 8.46mn shares, while value fell 4% to QR145.27mn and deals by 15% to 1,866.
The banks and financial services sector’s trade volume more than tripled to 5.61mn equities but only led to a 20% rise in value to QR80.8mn despite 15% lower transactions to 639.
The telecom sector’s trade volume almost doubled to 0.49mn stocks but value fell 58% to QR9.03mn despite a 17% increase in deals to 229.
However, there was a 50% plunge in the insurance sector’s trade volume to 0.08mn shares, 45% in value to QR3.59mn and 15% in transactions to 78.
The real estate sector’s trade volume plummeted 32% to 0.8mn equities, value by 34% to QR10mn and deals by 37% to 264.
The market witnessed a 12% shrinkage in the industrials sector’s trade volume to 1.11mn stocks but on 16% expansion in value to QR29.61mn. Transactions shrank 28% to 372.
The consumer goods sector’s trade volume tanked 7% to 0.14mn shares, value by 39% to QR6.14mn and deals by 11% to 107.
The transport sector reported a 4% fall in trade volume to 0.24mn equities but on a 26% increase in value to QR6.1mn and 70% in transactions to 177.
In the debt market, there was no trading of government bonds and treasury bills.
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