Heavy lifting by foreign institutions on Thursday helped the Qatar Stock Exchange witness 101 points accretion to its key index, which surpassed the 10,400 levels with ease.
Buying was pronounced especially in the insurance and banking segments as the 20-stock Qatar Index gained 0.97% for the second consecutive day to 10,436.76 points.
Large and small cap segments saw increased buying support in the bourse, which reported a marginal 0.07% year-to-date gains.
Islamic stocks were seen gaining relatively slower than the conventional ones in the market where domestic institutions were, however, increasingly net sellers and non-Qatari retail investors turned bearish.
Trade turnover and volumes expanded in the market, where banking and realty sectors together accounted for about 77% of the total trade volumes.
Market capitalisation rose more than QR5bn, or 0.95%, to QR563.47bn with large, small, mid and microcap equities gaining 1.24%, 0.99%, 0.62% and 0.36% respectively.
The Total Return Index gained 0.97% to 16,885.99 points, the All Share Index by 0.92% to 2,869.16 points and the Al Rayan Islamic Index by 0.68% to 3,882.99 points.
The insurance sector saw its index expand 1.82%, followed by banks and financial services (1.21%), industrials (0.92%), consumer goods (0.72%), realty (0.55%) and telecom (0.31%), while transport fell 0.14%.
About 74% of the traded stocks extended gains with major movers being Commercial Bank, Qatar Insurance, Qatar Electricity and Water, United Development Company, Vodafone Qatar, QNB, Doha Bank, Qatar First Bank, Mesaieed Petrochemical Holding, Gulf International Services, Aamal Company, Barwa and Mazaya Qatar; even as Milaha, Al Meera and Qatar Islamic Insurance saw their equities lose sheen.
Non-Qatari institutions’ net buying increased substantially to QR66.11mn compared to QR18.38mn on December 28.
Local retail investors’ net profit taking declined to QR28.45mn against QR32.81mn the previous day.
However, domestic institutions’ net selling increased considerably to QR24.79mn compared to QR4.02mn on Wednesday.
Non-Qatari individual investors turned net sellers to the tune of QR12.23mn against net buyers of QR2.5mn on December 28.
GCC (Gulf Cooperation Council) institutions were net sellers to the extent of QR0.62mn compared with net buyers of QR13.06mn the previous day.
GCC individual investors were also net profit takers to the tune of QR0.03mn against net buyers of QR1.89mn on December 28.
Total trade volume rose 33% to 13.22mn shares, value by 21% to QR293.32mn and deals by 20% to 3,779.
The banks and financial services sector’s trade volume more than doubled to 5.53mn equities, value rose 9% to QR94.36mn and transactions by 32% to 1,260.
There was an 86% surge in the industrials sector’s trade volume to 0.91mn stocks, 98% in value to QR42.51mn and 61% in deals to 689.
The consumer goods sector’s trade volume shot up 65% to 0.38mn shares and value more than doubled to QR26.6mn on a 29% increase in transactions to 363.
The insurance sector reported a 27% expansion in trade volume to 0.14mn equities, 88% in value to QR9.93mn and 59% in deals to 146.
However, the transport sector’s trade volume plummeted 37% to 0.31mn stocks, value by 46% to QR14.17mn and transactions by 35% to 187.
The telecom sector’s trade volume declined 3% to 1.33mn shares while value rose 2% to QR17.85mn. Deals shrank 27% to 265.
The market witnessed a 1% dip in the real estate sector’s trade volume to 4.63mn equities but on a 22% increase in value to QR87.9m and 16% in transactions to 869.
In the debt market, there was no trading of treasury bills and government bonds.
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