Business Reporter
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| Although foreign institutions largely preferred to hold on to their portfolio, the QE’s 20-stock benchmark gained 0.87% or 76 points to 8,744.48 yesterday |
Although foreign institutions largely preferred to hold on to their portfolio, the 20-stock benchmark gained 0.87% or 76 points to 8,744.48 points, mainly led by Industries Qatar and QNB.
The market is up 0.72% year-to-date, after several weeks of declines.
Other influential gainers included Qatar Islamic Bank, Al Khalij Holding, Nakilat and Qatar Electricity and Water.
Industrial stocks gained 1.44%, followed by services (0.93%), banks and financial institutions (0.71%) and insurance (0.24%).
Market capitalisation rose 1.01% or more than QR4bn to QR440.15bn mainly due to small, mid and large cap equities, which gained 1.54%, 1.20% and 0.79% respectively.
Of the 42 stocks, 31 gained, while only nine declined and one was unchanged. Another one was not traded.
Domestic institutions continued to be profit-takers but with lesser intensity mainly on higher buying as their net selling sunk to 2.86% from 12.89% in the previous trading day.
A higher 23.09% of them bought equities against 19.10% last Thursday; while a lower 25.95% of them sold compared to 31.99%.
Foreign institutions’ bullish grip weakened considerably as their net buying plunged to 7.40% from 21.65% in the previous day.
A much lower 20.37% of them were into buying compared to 33.17% last Thursday; while a marginally higher 12.97% were into selling against 11.52%.
Qatari individual investors’ bearish grip strengthened as their net selling rose to 7.40% from 4.52% in the previous day.
A higher 39.13% of them purchased equities compared to 35.95% last Thursday and a higher 46.53% sold against 40.47%.
Non-Qatari retail investors turned bullish as they were net buyers to the tune of 2.86% compared with net sellers of 4.24% in the previous day.
A higher 17.40% of them were into buying against 11.78% last Thursday; while a lower 14.54% were into offloading compared to 16.02%.
Total trading volume shrank 29% to 13.53mn equities, value by 36% to QR471.30mn and deals by 24% to 7,544.
Banks and financial institutions’ trading volume plummeted 48% to 3.76mn equities, value by 45% to QR185.27mn and transactions by 42% to 2,311.
The services sector’s trading volume plunged 19% to 7.69mn shares, value by 25% to QR205.71mn and deals by 10% to 4,060.
The industrial sector witnessed an 8% drop in trading volume to 1.94mn shares, value by 41% to QR73.87mn and transactions by 19% to 1,027.
However, the insurance sector’s trading volume gained 18% to 0.13mn shares, value by 1% to QR6.46mn and deals by 7% to 146.
Actively traded stocks (in terms of volume) were Nakilat (3.18mn shares); Masraf Al Rayan (1.72mn); Al Khalij Holding (1.18mn); Barwa (1.09mn) and Mazaya Real Estate (619,407).