Increased buying support from domestic and Gulf institutions imparted bullish momentum to the Qatar Stock Exchange, whose key index gained 61 points to once again cross the 10,900 mark.

Consumer goods and banking counters witnessed higher-than-average demand to lift the 20-stock Qatar Share Index by 0.56% to 10,941.43 points with buying pressure felt predominantly among large cap equities.

However, local retail investors were increasingly net sellers and their non-Qatari counterparts turned bearish in the bourse.

Islamic stocks were seen gaining slower than the other indices in the market, whose year-to-date gains swelled to 4.84%.

Trade turnover and volumes declined in the bourse, where industrials, banking and telecom sectors together accounted for about 74% of the total volumes.

Market capitalisation expanded about QR5bn, or 0.8%, to QR585.9bn with large and small cap equities gaining 1% and 0.46%, while micro and midcaps fell 0.24% and 0.21% respectively.

The Total Return Index gained 0.56% to 17,702.5 points, the All Share Index by 0.66% to 2,996.53 points and the Al Rayan Islamic Index by 0.17% to 4,077.27 points.

The consumer goods sectors saw its index soar 1.89%, followed by banks and financial services (1.07%), insurance (0.39%), industrials (0.35%) and real estate (0.35%), whereas telecom and transport fell 0.44% and 0.03% respectively.

Major gainers included QNB, Woqod, Gulf Warehousing, Qatar Electricity and Water, Industries Qatar, Masraf Al Rayan, Nakilat, Qatar Insurance, Commercial Bank, Alijarah Holding and United Development Company.

Nevertheless, Vodafone Qatar, Ooredoo, Qatar Islamic Bank, Doha Bank, Al Khaliji, Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding and Mazaya Qatar saw their equities lose sheen.

Domestic institutions’ net buying increased substantially to QR40.22mn compared to QR6.72mn on Wednesday.

GCC (Gulf Cooperation Council) institutions’ net buying strengthened to QR25.78mn against QR9.4mn on January 18.

Non-Qatari institutions turned net buyers to the tune of QR2.06mn compared with net sellers of QR3.53mn the previous day.

However, local retail investors turned net sellers to the extent of QR57.85mn against net buyers of QR0.74mn on Wednesday.

Non-Qatari individual investors were also net sellers to the tune of QR5.29mn compared with net buyers of QR7.22mn on January 18.

GCC retail investors’ net profit booking rose perceptibly to QR4.92mn against QR1.75mn the previous day.

Total trade volume fell 29% to 7.32mn shares, value by 15% to QR285.83mn and deals by 29% to 3,469.

There was a 71% plunge in the real estate sector’s trade volume to 0.64mn equities, 73% in value to QR12.79mn and 60% in transactions to 358.

The consumer goods sector’s trade volume plummeted 61% to 0.58mm stocks, value by 47% to QR48.77mn and deals by 25% to 635.

The banks and financial services sector saw a 40% shrinkage in trade volume to 2.03mn shares but on 21% increase in value to QR123.69mn. Transactions shrank 22% to 1,210.

The insurance sector’s trade volume tanked 36% to 0.07mn equities, 24% in value to QR5.33mn and 46% in deals to 71.

The telecom sector’s trade volume declined 21% to 1.22mn stocks, value by 16% to QR14.59mn and transactions by 49% to 244.

However, the industrials sector reported a 98% surge in trade volume to 2.14mn shares, 13% in value to QR62.77mn and 1% in deals to 730.

The transport sector’s trade volume soared 39% to 0.64mn equities and value by 30% to QR17.9mn, whereas transactions declined 13% to 221.

In the debt market, there was no trading of treasury bills and government bonds.

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