An across the board buying – particularly in telecom, realty and banking counters – helped the 20-stock Qatar Index gain 0.47% at 9,966.35 points as world oil prices mildly rebounded amidst Brexit apprehensions.
“A successful close above the horizontal line at 10,000 points would bring back to focus this year high at around 10,500 points,” Kamco had said earlier in a research note.
Non-Qatari individual investors turned marginally bullish and there was weakening of net selling by their Gulf counterparts in the bourse, which is however down 4.44% year-to-date.
However, local retail investors were seen increasingly net sellers and there were reduced buying interests of domestic institutions in the market, where trading turnover and volumes were on the decline.
The index that tracks Shariah-principled stocks was seen gaining slower than the other indices in the bourse, where banking and real estate stocks together constituted more than 64% of the total trading volume.
Market capitalisation gained 0.52% or about QR3bn to QR537.37bn as large, small and midcap equities rose 0.53%, 0.52% and 0.15% respectively; whereas microcaps lost 0.15%.
The Total Return Index rose 0.47% to 16,124.89 points, All Share Index by 0.46% to 2,771.84 points and Al Rayan Islamic Index by 0.29% to 3,871.19 points.
Telecom stocks appreciated 1.08%, realty (0.54%), banks and financial services (0.53%), industrials (0.42%), insurance (0.15%), transport (0.12%) and consumer goods (0.07%).
Major gainers included Ooredoo, Ezdan, Barwa, Mazaya Qatar, QNB, Commercial Bank, Doha Bank, Industries Qatar, Mannai Corporation, Vodafone Qatar and Nakilat; even as QIIB, Qatar First Bank, Gulf International Services and Dlala bucked the trend.
Non-Qatari institutions’ net buying increased to QR11.61mn compared to QR2.83mn the previous day.
Non-Qatari individual investors were net buyers to the extent of QR0.28mn against net sellers of QR2.07mn on June 22.
The GCC (Gulf Cooperation Council) individual investors’ net selling weakened to QR0.18mn compared to QR2.63mn on Wednesday.
However, local retail investors’ net profit booking strengthened to QR11.19mn against QR5.99mn the previous day.
Domestic institutions’ net buying plunged to QR0.69mn compared to QR5.48mn on June 22.
The GCC institutions turned net sellers to the tune of QR1.22mn against net buyers of QR2.39mn on Wednesday.
Total trade volume fell 23% to 2.43mn shares, value by 23% to QR83.67mn and deals by 34% to 1,423.
The consumer goods sector saw 78% plunge in trade volume to 0.11mn equities, 61% in value to QR5.82mn and 40% in transactions to 121.
The transport sector’s trade volume plummeted 42% to 0.07mn stocks, value by 47% to QR2.45mn and deals by 56% to 47.
The market witnessed 40% shrinkage in the telecom sector’s trade volume to 0.31mn shares, 45% in value to QR5.02mn and 35% in transactions to 145.
The real estate sector’s trade volume declined 16% to 0.58mn equities, value by 16% to QR12.51mn and deals by 51% to 257.
The industrials sector reported 6% decline in trade volume to 0.34mn stocks but on 7% rise in value to QR18.46mn. Transactions shank 31% to 280.
However, the insurance sector’s trade volume soared 67% to 0.05mn shares and value by 80% to QR3.59mn, while deals fell 34% by to 33.
The banks and financial services sector reported 8% expansion in trade volume to 0.98mn equities but on 22% fall in value to QR35.82mn and 16% in transactions to 540.
In the debt market, there was no trading of treasury bills and government bonds.
