Qatar Stock Exchange on Tuesday gained for the fifth day to inch near 9,200 levels and market capitalisation crossed QR500bn amidst increased trade turnover and volumes.
The Gulf institutions’ bullish outlook and the weakened net selling by domestic funds were seen instrumental in lifting the 20-stock Qatar Index 0.5% to 9,188.16 points.Masraf Al Rayan and Doha Bank sponsored exchange traded funds QATR and QETF witnessed 1.09% and 0.9% gains respectively.
Islamic stocks were seen outperforming the other indices in the market, which is up 7.8% year-to-date.
However, local retail investors were increasingly net sellers and foreign funds’ net buying weakened in the bourse, whose capitalisation grew 0.58% to QR501.54bn, mainly lifted by micro and midcaps.
Trade turnover and volumes were on the increase in the market, where telecom and banking sectors together accounted for more than 58% of the total volume.
The Total Return Index grew 0.5% to 16,188.52 points, All Share Index by 0.68% to 2,663.31 points and Al Rayan Islamic Index (Price) by 1.01% to 2,255.38 points.
The realty index soared 1.97%, telecom (1.58%), insurance (0.64%), consumer goods (0.6%), industrials (0.53%) and banks and financial services (0.48%); while transport declined 0.81%.
About 81% of the traded stocks extended gains with movers being Mazaya Qatar, Ezdan, Vodafone Qatar, Aamal Company, Qatar First Bank, Alijarah Holding, Barwa, Mannai Corporation and Salam International Investment; even as Milaha, Qatar Electricity and Water Company, Woqod and Dlala were among the losers.
The Gulf institutional investors turned net buyers to the tune of QR12.26mn against net sellers of QR9.72mn on July 2.
Domestic institutions’ net profit booking weakened perceptibly to QR2.73mn compared to QR4.39mn on Monday.
However, local individuals’ net selling strengthened considerably to QR31.03mn against QR25.25mn the previous day.
Non-Qatari individuals turned net sellers to the extent of QR6.21mn compared with net buyers of QR1.15mn on July 2.
The Gulf individual investors’ net profit booking grew influentially to QR1.17mn against QR0.16mn on Monday.
Non-Qatari institutions’ net buying declined significantly to QR28.94mn compared to QR38.43mn the previous day.
Total trade volume grew 45% to 12.09mn shares, value by 2% to QR278.58mn and transactions by 10% to 4,350.
The transport sector’s trade volume grew more than seven-fold to 1.06mn equities and value by about five-fold to QR22.99mn on 65% growth in deals to 420.
The industrials sector’s trade volume more than doubled to 1.43mn stocks, value soared 20% to QR44.8mn and transactions by 28% to 885.
The real estate sector’s trade volume soared 58% to 1.87mn shares, value by 47% to QR28.74mn and deals by 27% to 698.
The telecom sector reported 52% surge in trade volume to 3.56mn equities, 55% in value to QR35.16mn and 48% in transactions to 440.
The consumer goods sector’s trade volume increased 21% to 0.57mn stocks, value by 13% to QR24.5mn and deals by 76% to 353.
However, the insurance sector saw 44% plunge in trade volume to 0.09mn shares, 54% in value to QR2.66mn and 29% in transactions to 136.
Although the banks and financial services sector’s trade volume was flat at 3.51mn equities, value declined 25% to QR119.72mn and deals by 20% to 1,418.
In the debt market, there was no trading of treasury bills and sovereign bonds.
