Stronger buying interests were seen in industrials, banking and realty counters, which helped the 20-stock Qatar Index gain for the second day by 0.56% to 10,484.09 points, reflecting the buoyancy in the global oil market where prices rose on anticipation of a “smooth” deal in the next month’s meeting of Organisation of Petroleum Exporting Countries.
Trade turnover and volumes were also on the increase in the bourse, which returned 0.52% gains year-to-date.
Mid and large cap equities witnessed higher demand in the market, where industrials, banking and real estate sectors constituted more than 77% of the total volumes.
Islamic stocks were however seen gaining slower than the conventional ones in the bourse, where non-Qatari individual investors’ net selling weakened.
However, local retail investors were increasingly net profit takers and domestic institutions turned bearish.
Market capitalisation rose 0.58% or more than QR3bn to QR564.07bn as mid and large cap equities gained 0.76% and 0.49%; while small and microcaps fell 0.74% and 0.08% respectively.
The Total Return Index gained 0.56% to 16,962.56 points, All Share Index by 0.5% to 2,890.77 points and Al Rayan Islamic Index by 0.06% to 3,909.74 points.
Industrials stocks added 0.7%, banks and financial services (0.65%), real estate (0.62%), telecom (0.34%) and consumer goods (0.07%); whereas insurance and transport fell 0.22% and 0.04% respectively.
About 61% of the traded equities extended gains with major movers being QNB, Aamal Company, Industries Qatar, Ooredoo, Milaha, Qatar Insurance, Ezdan, Mazaya Qatar, Barwa, Commercial Bank, al khaliji, Woqod, Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding and Vodafone Qatar; even as Masraf Al Rayan, Nakilat, Doha Bank, Islamic Holding Group and Medicare Group saw their stocks lose steam.
Non-Qatari institutions’ net buying strengthened considerably to QR109.74mn compared to QR18.8mn on October 17.
The GCC (Gulf Cooperation Council) institutions’ net buying rose marginally to QR0.35mn against QR0.33mn on Monday.
Non-Qatari individual investors’ net selling weakened to QR1.84mn compared to QR4.34mn the previous day.
However, domestic institutions turned net sellers to the tune of QR75.1mn against net buyers of QR2.59mn on October 17.
Local retail investors’ net profit booking increased substantially to QR32.96mn compared to QR19.44mn on Monday.
The GCC individual investors turned net sellers to the extent of QR0.21mn against net buyers of QR2.05mn the previous day.
Total trade volume rose 42% to 5.24mn shares, value by 34% to QR232.45mn and deals by 5% to 2,999.
The industrials sector’s trade volume grew more than six-fold to 1.87mn equities and value more than quadrupled to QR96.89mn on 54% increase in transactions to 704.
The banks and financial services sector’s trade volume soared 25% to 1.38mn stocks, value by 18% to QR66.98mn and deals by 15% to 1,091.
There was 25% surge in the real estate sector’s trade volume to 0.79mn shares, 32% in value to QR15.7mn and 14% in transactions to 352.
However, the consumer goods sector’s trade volume plummeted 46% to 0.13mn equities, value by 67% to QR12.26mn and deals by 12% to 264.
The telecom sector reported 28% plunge in trade volume to 0.67mn stocks, 21% in value to QR15.5mn and 28% in transactions to 267.
The transport sector’s trade volume tanked 23% to 0.34mn shares, while value rose 2% to QR21.12mn; even as deals sunk 49% to 203.
The market witnessed 17% decline in the insurance sector’s trade volume to 0.05mn equities but on 3% rise in value to QR4mn and more than doubled transactions to 118.
In the debt market, there was no trading of treasury bills and government bonds.
