The Qatar Stock Exchange on Sunday opened the week on a stronger note and its key index gained 38 points, mainly lifted by foreign institutions.
Led by telecom, transport and banking sectors, the 20-stock gained 0.4% to 9,570.72 points amidst fall in trade turnover and volumes, ahead of Ramadan.
Islamic stocks, however, were seen retreating vis-à-vis gains in the conventional ones in the market, which is down 8.23% year-to-date.
Local and Gulf retail investors turned net profit takers and there was increased net selling by domestic institutions and non-Qatari individuals in the bourse, where banking and telecom stocks together constituted about 66% of the total trading volume.
Market capitalisation rose 0.32% or about QR2bn to QR518.77bn mainly on 0.84% jump in large cap stocks; while mid, small and microcaps fell 1.23%, 0.23% and 0.14% respectively.
The Total Return Index gained 0.4% to 15,484.78 points and All Share Index by 0.19% to 2,677.39 points; while Al Rayan Islamic Index was down 0.1% to 3,718.07 points.
Telecom stocks soared 1.39%, transport (0.84%) and banks and financial services (0.58%); whereas consumer goods shrank 0.83%, insurance (0.28%), realty (0.27%) and industrials (0.18%).
About 59% of the stocks extended gains with major movers being Ooredoo, Nakilat, QNB, Qatar Islamic Bank, Industries Qatar, Doha Insurance and Barwa; even as Vodafone Qatar, Gulf International Services, Mazaya Qatar, United Development Company, Qatar First Bank, Dlala, Ahli Bank, Doha Bank and Ezdan bucked the trend.
Non-Qatari institutions turned net buyers to the tune of QR12.07mn against net sellers of QR10.71mn last Thursday.
However, local retail investors turned net sellers to the extent of QR12.04mn compare with net buyers of QR0.29mn on June 2.
Domestic institutions’ net selling increased to QR5.3mn compared to QR0.74mn the previous trading day.
The GCC (Gulf Cooperation Council) institutions’ net buying declined to QR9.42mn against QR11.18mn last Thursday.
The GCC individual investors turned net sellers to the tune of QR1.17mn compared with net buyers of QR1.2mn on June 2.
Non-Qatari individual investors’ net profit booking strengthened to QR3.02mn against QR1.25mn the previous trading day.
Total trade volume was down 1% to 4.77mn shares, value by 28% to QR160.49mn and deals by 36% to 1,989.
The industrials sector saw 70% plunge in trade volume to 0.28mn equities, 77% in value to QR11.22mn and 48% in transactions to 328.
The transport sector’s trade volume plummeted 65% to 0.08mn stocks, value by 67% to QR2.49mn and deals by 58% to 69.
The market witnessed 64% shrinkage in the insurance sector’s trade volume to 0.14mn shares, 66% in value to QR9.92mn and 67% in transactions to 84.
The telecom sector’s trade volume shrank 10% to 0.87mn equities, value by 28% to QR12.15mn and deals by 58% to 232.
However, the real estate sector saw 56% surge in trade volume to 0.64mn stocks, 41% in value to QR11.91mn and 42% in transactions to 323.
The banks and financial services sector’s trade volume soared 53% to 2.27mn shares and value by 15% to QR91.51mn, while deals fell 16% to 629.
The consumer goods sector reported 17% expansion in trade volume to 0.49mn equities but on 32% decline in value to QR21.29mn and 37% in transactions to 324.
In the debt market, there was no trading of treasury bills and government bonds.