Domestic institutions’ bullish outlook and Gulf funds’ increased net buying steered the Qatar Stock Exchange above 9,100 points with an ease.

Consumer goods, banking and industrials counters witnessed higher than average demand, thus helping the 20-stock Qatar Index add about 1% to 9,135.86 points.

Investors mainly scouted for large and midcap stocks in the market, whose capitalisation grew about 1% to QR502.25bn.

Trade turnover and volumes were however on the decline in the bourse, where banking, industrials and real estate sectors together accounted for about 83% of the total volume.

The Total Return Index gained 0.97% to 15,320.3 points, Al Rayan Islamic Index by 0.94% to 3,687.65 points and All Share Index by 0.89% to 2,618.8 points.

The consumer goods index soared 2.56%, banks and financial services (1.22%), industrials (0.97%), realty (0.5%), telecom (0.47%) and insurance (0.45%); while transport fell 1.43%.

About 67% of the stocks extended gains with major movers being Industries Qatar, QNB, Qatar Islamic Bank, Doha Bank, Dlala, Islamic Holding Group, Woqod, Qatari Investors Group, United Development Company, Barwa, Ooredoo and Vodafone Qatar.

Nevertheless, Alijarah Holding, Qatar Industrial Manufacturing Company, Mazaya Qatar, Nakilat, Gulf Warehousing and Milaha were among the losers.

Domestic funds turned net buyers to the tune of QR30.49mn compared with net sellers of QR19.91mn on January 10.

The Gulf institutions’ net buying strengthened perceptibly to QR3.86mn against QR2.15mn the previous day.

Local individuals’ net selling weakened considerably to QR14.91mn compared to QR22.66mn on Wednesday.

However, non-Qatari funds turned net sellers to the extent of QR10.29mn against net buyers of QR36.3mn on January 10.

The Gulf retail investors were also net sellers to the tune of QR9.27mn compared with net buyers of QR0.6mn the previous day.

Non-Qatari retail investors’ net buying declined influentially to QR0.15mn against QR3.56mn on Wednesday.

Total trade volume fell 18% to 12.86mn shares and value by 13% to QR292.32mn, while deals rose 13% to 5,480.

The consumer goods sector’s trade volume more than doubled to 0.87mn equities, value soared 73% to QR38.99mn and transactions by 66% to 645.

The insurance sector reported 80% surge in trade volume to 0.18mn stocks but on 3% fall in value to QR5mn despite flat deals at 124.

The banks and financial services sector’s trade volume expanded 26% to 5.85mn shares, while value fell 10% to QR121.46mn despite 38% higher transactions to 2,098.

However, the market witnessed 47% plunge in the industrials sector’s trade volume to 2.87mn equities, 4% in value to QR76.28mn and 16% in deals to 1,171.

The real estate sector’s trade volume plummeted 44% to 1.89mn stocks, value by 50% to QR28.66mn and transactions by 16% to 721.

There was 42% shrinkage in the transport sector’s trade volume to 0.4mn shares, 62% in value to QR9.36mn and 2% in deals to 297.

The telecom sector’s trade volume tanked 23% to 0.79mn equities, whereas value shot up 10% to QR12.58mn and transactions by 67% to 424.

In the debt market, there was no trading of treasury bills and sovereign bonds.

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