The Qatar Stock Exchange on Sunday opened the week strong to surpass 9,000 points, mainly on the back of buying interests of local retail investors.
An across-the-board-buying – particularly in consumer goods, telecom, real estate, insurance and banks – led the 20-stock Qatar Index to gain 0.93% to 9,005.34 points.
Doha Bank-sponsored exchange traded fund QETF gained 0.49%, while Masraf Al Rayan-sponsored QATR fell 2.28%.
Islamic stocks were seen underperforming the main index in the market, which is up 5.65% year-to-date.
Foreign funds’ weakened net profit-booking also helped improve sentiments in the bourse, whose capitalisation grew 0.99% to QR493.7bn, mainly lifted by mid and large caps.
Trade turnover and volumes were on the decline in the market, where the transport and banking sectors together accounted for about 67% of the total volume.
The Total Return Index grew 0.93% to 15,866.4 points, the All Share Index by 1.06% to 2,621.46 points and the Al Rayan Islamic Index (Price) by 0.47% to 2,195.39 points.
The consumer goods index gained 1.77%, followed by telecom (1.58%), realty (1.52%), insurance (1.31%), banks and financial services (1.15%), transport (0.38%) and industrials (0.32%).
More than 63% of the traded stocks extended gains with major movers being Qatar Insurance, Commercial Bank, QNB, Ooredoo, Qatar Islamic Bank, Dlala, Woqod, Medicare Group, Qatar Electricity and Water, Ezdan and Nakilat; even as Aamal Company, Mesaieed Petrochemical Holding, Gulf Warehousing, Mazaya Qatar, Gulf Warehousing and Islamic Holding Group were among the losers.
Local individuals were net buyers to the tune of QR6.33mn against net profit-takers of QR0.76mn the previous trading day.
Non-Qatari individual investors were also net buyers to the extent of QR0.12mn compared with net sellers of QR4.5mn last Thursday.
Gulf individuals turned net buyers to the extent of QR0.03mn against net profit-takers of QR0.9mn on June 21.
Non-Qatari fund’s net selling weakened substantially to QR2.5mn compared to QR17.93mn the previous trading day.
Gulf institutions’ net profit-booking declined considerably to QR0.45mn against QR5.06mn last Thursday.
However, domestic institutions turned net sellers to the tune of QR3.51mn compared with net buyers of QR29.15mn on June 21.
Total trade volume fell 8% to 4.56mn shares, value by 24% to QR156.19mn and transactions by 52% at 1,545.
The real estate sector’s trade volume plummeted 63% to 0.42mn equities, value by 61% to QR7.55mn and deals by 57% to 235.
The industrials sector reported a 56% plunge in trade volume to 0.29mn stocks, 59% in value to QR10.39mn and 53% in transactions to 239.
The banks and financial services sector’s trade volume tanked 30% to 1.3mn shares, value by 36% to QR80.08mn and deals by 58% to 574.
However, the transport sector’s trade volume almost tripled to 1.74mn equities and value more than doubled to QR27.93mn but on a 38% fall in transactions to 141.
The consumer goods sector’s trade volume more than doubled to 0.19mn stocks and value also more than doubled to QR17.08mn on a 20% jump in deals to 146.
There was a a 14% surge in the insurance sector’s trade volume to 0.25mn shares and 12% in value to QR8.84mn but on a 55% fall in transactions to 96.
The telecom sector’s trade volume was up 5% to 0.39mn equities, while value shrank 48% to QR4.32mn and deals by 54% to 114.
In the debt market, there was no trading of treasury bills and sovereign bonds.