Foreign and domestic institutions’ bullish outlook on Monday helped Qatar Stock Exchange surpass the 10,100 levels.
The buying interests, especially in real estate and insurance counters, led the 20-stock Qatar Index gain 0.56% to 10,118.13 points as the global oil prices strengthened to trade above $52 a barrel on reports of extended production cuts until March 2018.
Kamco analysts said a close above 10,000 points would enhance further advance towards 10,225 points although weekly relative strength index indicator is currently looking "negative".
Buying was skewed towards micro and large cap stocks in the bourse, which also saw non-Qatari retail investors turn bullish.
Islamic stocks were however seen underperforming the main index as well as other indices in the market, which saw local and Gulf individual turn bearish and there was also increased net selling by Gulf institutions.
Trade turnover and volumes were on the decline in the market, where telecom, banking and realty sectors together accounted for about 89% of the total volumes.
Market capitalisation rose about QR3bn or 0.49% to QR540.29bn as micro and large cap scrips gained 0.79% and 0.48%; while small and midcaps declined 0.09% and 0.01% respectively.
The Total Return Index gained 0.56% to 16,967.5 points, All Share Index by 0.48% to 2,865.01 points and Al Rayan Islamic Index by 0.47% to 4,044.29 points.
The realty sector’s index soared 1.13%, insurance (0.61%), banks and financial services (0.48%), industrials (0.36%), transport (0.21%) and telecom (0.17%); whereas consumer goods fell 0.59%.
About 59% of the stocks extended gains with major movers being Barwa, Ezdan, Doha Bank, Alijarah Holding, Qatar Industrial Manufacturing, Al Khaleej Takaful, Qatar Islamic Insurance, QNB, Qatar Islamic Bank and Industries Qatar.
Nevertheless, Vodafone Qatar, Nakilat, Dlala, al khaliji, Qatari German Company for Medical Devices and Qatari Investors Group were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR6.6mn compared with net sellers of QR1.75mn on May 14.
Domestic institutions were also net buyers to the extent of QR7.51mn against net sellers of QR2.35mn the previous day.
Non-Qatari retail investors turned net buyers to the tune of QR3.06mn compared with net sellers of QR0.14mn on Sunday.
However, local retail investors turned net sellers to the extent of QR14.12mn against net buyers of QR3.25mn on May 14.
The GCC (Gulf Cooperation Council) individuals were net sellers to the tune of QR0.14mn compared with net buyers of QR1.83mn the previous day.
The GCC funds’ net profit booking strengthened considerably to QR2.91mn against QR0.84mn on Sunday.
Total trade volumes fell 9% to 8.5mn shares and value by 17% to QR170.98mn, while deals were up 6% to 2,586.
There was 56% plunge in the industrials sector’s trade volume to 0.17mn equities, 61% in value to QR8.7mn and 45% in transactions to 229.
The consumer goods sector’s trade volume plummeted 53% to 0.18mn stocks, value by 13% to QR16.39mn and deals by 20% to 198.
The market witnessed 22% shrinkage in the telecom sector’s trade volume to 3.19mn shares and 20% in value to QR31.74mn but on 34% increase in transactions to 356.
The banks and financial services sector’s trade volume was down 3% to 2.64mn equities and value by 24% to QR66.17mn, while deals gained 16% to 1,138.
However, the transport sector’s trade volume more than doubled to 0.42mn stocks, value soared 51% to QR9.5mn and transactions by 24% to 161.
The insurance sector reported 36% surge in trade volume to 0.19mn shares and 60% in value to QR8.65mn but on 20% slump in deals to 115.
The real estate sector’s trade volume expanded 22% to 1.71mn equities, value by 15% to QR29.83mn and transactions by 49% to 389.
In the debt market, there was no trading of treasury bills and government bonds.
Kamco analysts said a close above 10,000 points would enhance further advance towards 10,225 points although weekly relative strength index indicator is currently looking "negative".
Buying was skewed towards micro and large cap stocks in the bourse, which also saw non-Qatari retail investors turn bullish.
Islamic stocks were however seen underperforming the main index as well as other indices in the market, which saw local and Gulf individual turn bearish and there was also increased net selling by Gulf institutions.
Trade turnover and volumes were on the decline in the market, where telecom, banking and realty sectors together accounted for about 89% of the total volumes.
Market capitalisation rose about QR3bn or 0.49% to QR540.29bn as micro and large cap scrips gained 0.79% and 0.48%; while small and midcaps declined 0.09% and 0.01% respectively.
The Total Return Index gained 0.56% to 16,967.5 points, All Share Index by 0.48% to 2,865.01 points and Al Rayan Islamic Index by 0.47% to 4,044.29 points.
The realty sector’s index soared 1.13%, insurance (0.61%), banks and financial services (0.48%), industrials (0.36%), transport (0.21%) and telecom (0.17%); whereas consumer goods fell 0.59%.
About 59% of the stocks extended gains with major movers being Barwa, Ezdan, Doha Bank, Alijarah Holding, Qatar Industrial Manufacturing, Al Khaleej Takaful, Qatar Islamic Insurance, QNB, Qatar Islamic Bank and Industries Qatar.
Nevertheless, Vodafone Qatar, Nakilat, Dlala, al khaliji, Qatari German Company for Medical Devices and Qatari Investors Group were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR6.6mn compared with net sellers of QR1.75mn on May 14.
Domestic institutions were also net buyers to the extent of QR7.51mn against net sellers of QR2.35mn the previous day.
Non-Qatari retail investors turned net buyers to the tune of QR3.06mn compared with net sellers of QR0.14mn on Sunday.
However, local retail investors turned net sellers to the extent of QR14.12mn against net buyers of QR3.25mn on May 14.
The GCC (Gulf Cooperation Council) individuals were net sellers to the tune of QR0.14mn compared with net buyers of QR1.83mn the previous day.
The GCC funds’ net profit booking strengthened considerably to QR2.91mn against QR0.84mn on Sunday.
Total trade volumes fell 9% to 8.5mn shares and value by 17% to QR170.98mn, while deals were up 6% to 2,586.
There was 56% plunge in the industrials sector’s trade volume to 0.17mn equities, 61% in value to QR8.7mn and 45% in transactions to 229.
The consumer goods sector’s trade volume plummeted 53% to 0.18mn stocks, value by 13% to QR16.39mn and deals by 20% to 198.
The market witnessed 22% shrinkage in the telecom sector’s trade volume to 3.19mn shares and 20% in value to QR31.74mn but on 34% increase in transactions to 356.
The banks and financial services sector’s trade volume was down 3% to 2.64mn equities and value by 24% to QR66.17mn, while deals gained 16% to 1,138.
However, the transport sector’s trade volume more than doubled to 0.42mn stocks, value soared 51% to QR9.5mn and transactions by 24% to 161.
The insurance sector reported 36% surge in trade volume to 0.19mn shares and 60% in value to QR8.65mn but on 20% slump in deals to 115.
The real estate sector’s trade volume expanded 22% to 1.71mn equities, value by 15% to QR29.83mn and transactions by 49% to 389.
In the debt market, there was no trading of treasury bills and government bonds.
