Gulf and foreign institutions’ buying interests on Tuesday lifted the Qatar Stock Exchange, whose key index inched near 10,400 levels.
Banks, telecom, insurance and industrials witnessed higher than average demand, leading the 20-stock Qatar Index gain 0.46% to 10,391.7 points.
Although the market witnessed profit booking in the initial few minutes to take the main benchmark to a low of 10,300 points, there was largely a sustained buying support thereafter.
Buying was seen more pronounced within the large cap segments in the market, whose year-to-date losses were pruned to 0.43%.
Islamic stocks were outperforming the main index as well as other indices in the bourse, which saw local retail investors and domestic institutions turn bearish and there was increased net selling by non-Qatari and Gulf individual investors.
Trade turnover increased amidst lower volumes in the market, where banking and real estate sectors together accounted for about 65% of the total volumes.
Market capitalisation gained more than QR2bn or 0.47% to QR557.04bn as large, mid and microcap equities rose 0.61%, 0.38% and 0.33% respectively.
The Total Return Index rose 0.62% to 17,332.29 points, All Share Index by 0.6% to 2,941.25 points and Al Rayan Islamic Index by 0.72% to 4,153.1 points.
The banks and financial services sector saw its index gain 0.96%, telecom (0.85%), insurance (0.74%), industrials (0.56%) and realty (0.17%); whereas transport and consumer goods declined 0.24% and 0.07% respectively.
More than 51% of the traded stocks extended gains with major movers being Industries Qatar, Ooredoo, Masraf Al Rayan, Qatar Islamic Insurance, Qatar Insurance, QNB, Ahli Bank, Qatari Investors Group, Barwa, United Development Company, Aamal Company and Qatari German Company for Medical Devices.
Nevertheless, among the losers were QIIB, Doha Bank, Qatar First Bank, Al Khaleej Takaful, Mazaya Qatar, Vodafone Qatar, Milaha, Gulf International Services and Medicare Group.
The GCC (Gulf Cooperation Council) institutions’ net buying increased substantially to QR26.39mn against QR7.05mn on Monday.
Non-Qatari institutions turned net buyers to the tune of QR17.38mn compared with net sellers of QR15.29mn on April 3.
However, local retail investors turned net sellers to the extent of QR25.51mn against net buyers of QR12.7mn the previous day.
Domestic institutions were also net sellers to the tune of QR6.48mn compared with net buyers of QR2.91mn on Monday.
Non-Qatari individual investors’ net selling rose perceptibly to QR7.58mn against QR5.38mn on April 2.
The GCC retail investors’ net profit booking increased to QR4.2mn compared to QR2.02mn the previous day.
Total trade volumes fell 8% to 9.5mn shares, while value rose 6% to QR304.42mn but on 6% lower deals to 3,334.
The market witnessed 58% plunge in the transport sector’s trade volume to 0.24mn equities, 30% in value to QR10.71mn and 29% in transactions to 168.
The telecom sector’s trade volume plummeted 33% to 1.67mn stocks, value by 39% to QR21.53mn and deals by 60% to 157.
The banks and financial services sector saw 13% shrinkage in trade volume to 3.51mn shares and 4% in value to QR139.52mn but on 3% jump in transactions to 1,600.
However, the industrials sector’s trade volume more than doubled to 1.07mn equities and value doubled to QR66.31mn on 33% increase in deals to 677.
The consumer goods sector reported 12% surge in trade volume to 0.28mm stocks, 16% in value to QR14.78mn and 3% in transactions to 267.
The real estate sector’s trade volume increased 9% to 2.66mn shares and value by 15% to QR47.7mn, whereas deals shrank 14% to 409.
Although the insurance sector’s trade volume was flat at 0.07mn equities, there was 6% decline in value to QR3.87mn and 47% in transactions to 56.
In the debt market, there was no trading of treasury bills and government bonds.
