The Qatar Stock Exchange on Monday saw more than 63% of the traded stocks extend gains and capitalisation add QR4bn as it inched near 9,000 levels.
Stronger buying support from local and non-Qatari retail investors as well as domestic institutions led the 20-stock Qatar Index gain more than 1% to 8,995.12 points.
Buying was largely skewed towards insurance and banks in the market, whose year-to-date losses were contained at 13.81%.
Opening the day stronger, the market was then on a weak net selling for the next 15 minutes, after which it was consistently on a gaining path to touch a high of near 9,050 points by the middle of the session. Thereafter, profit booking was witnessed for the remainder of the session, thus the index settled 91 points higher against the previous close.
Buying interests were seen within large, small and midcap segments in the bourse, which, however, saw increased net selling by foreign institutions.
Islamic stocks were seen gaining slower than the main index and other indices on the bourse, which also saw Gulf retail investors and institutions turn bearish.
Market capitalisation added expanded 0.14% to QR484.46bn as large, small and midcap equities gained 1.1%, 0.54% and 0.3% respectively; while microcaps were down 0.17%.
Trade turnover and volumes were on an expansive mode on the bourse, where banking, telecom and realty sectors together accounted for about 80% of the total volumes.
The Total Return Index rose 1.02% to 15,084.28 points, All Share Index by 0.75% to 2,555.57 points and Al Rayan Islamic Index by 0.76% to 3,557.73 points.
The insurance index gained 2.32%, banks and financial services (1.06%), industrials (0.83%), transport (0.69%) and consumer goods (0.53%); whereas telecom and realty fell 0.76% and 0.27% respectively.
Major gainers included Qatar Insurance, QNB, Industries Qatar, QIIB, Qatar Islamic Bank, Qatar National Cement, Masraf Al Rayan, Qatari Investors Group, Barwa, Mazaya Qatar, Milaha and Nakilat; even as Doha Bank, Commercial Bank, Ooredoo, Vodafone Qatar, Ezdan and Qatar Electricity and Water Company were among the losers.
Local retail investors’ net buying strengthened considerably to QR30.23mn compared to QR6.07mn on Sunday.
Domestic institutions’ net buying also increased perceptibly to QR11.15mn against QR5.55mn the previous day.
Non-Qatari retail investors’ net buying rose influentially to QR2.16mn compared to QR0.45mn on July 9.
However, non-Qatari institutions’ net selling grew substantially to QR37.83mn against QR12.33mn on Sunday.
The GCC (Gulf Cooperation Council) funds were net sellers to the tune of QR4.56mn compared with net buyers QR0.09mn the previous day.
The GCC individuals turned net profit takers to the extent of QR1.18mn against net buyers of QR0.19mn on July 9.
Total trade volumes rose 61% to 8.27mn shares and value almost tripled to QR337.73mn on 63% rise in deals to 3,028.
The real estate sector’s trade volume almost quadrupled to 1.28mn equities and value more than quadrupled to QR22.71mn on more than quadrupled transactions to 598.
The banks and financial services sector’s trade volume more than doubled to 3.18mn stocks and value more than quadrupled to QR232.26mn on 31% jump in deals to 1,035.
There was 80% surge in the consumer goods sector’s trade volume to 0.18mn shares to more than double value to QR11.84mn on 81% increase in transactions to 223.
The transport sector’s trade volume soared 60% to 0.56mn equities, value by 74% to QR13.04mn and deals by 60% to 392.
The market witnessed 22% expansion in the telecom sector’s trade volume to 2.14mn stocks and 54% in value to QR24.31n on more than doubled transactions to 209.
However, the insurance sector’s trade volume plummeted 29% to 0.05mn shares, value by 10% to QR1.9mn and deals by 20% to 51.
The industrials sector reported 19% decline in trade volume to 0.88mn equities but on 25% surge in value to QR31.68mn and 25% in transactions to 520.
In the debt market, there was no trading of treasury bills and government bonds.
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