An across-the-board buying, particularly in the real estate and banking stocks, on Wednesday led the Qatar Stock Exchange remain bullish for the second consecutive day and its key index crossed the 8,300 level with an ease.
Local retail investors and Gulf institutions were increasingly bullish as the 20-stock Qatar Index rose another 0.71% to 8,348.05 points.
The increased buying interests of non-Qatari individuals also helped the market, whose year-to-date losses were at 20.01%.
Islamic equities were seen gaining slower than the main index and other indices in the bourse, whose capitalisation expanded 0.63% to QR455.58bn.
GCC individuals turned marginally bullish amidst stronger selling pressure from non-Qatari institutions and lower buying support from their domestic counterparts.
The strong purchases led the market near 8,340 points within the first 90 minutes, after which there was profit-booking for the next 60 minutes to drive the index down to a low near 8,300 points.
Although the market witnessed largely a roller coaster drive for the remainder of the session, overall strong buying was visible, especially in the last few minutes of closing, thus settling the index 59 points higher.
Trade turnover expanded amidst lower volumes in the market, where banking and industrials sectors together accounted for more than 70% of the total volume.
The Total Return Index rose 0.71% to 13,999.19 points; the Al Rayan Islamic Index by 0.66% to 3,356.6 points and the All Share Index by 0.65% to 2,378.7 points.
The realty index gained 0.96%, followed by banks and financial services (0.76%), industrials (0.55%), insurance (0.53%), telecom (0.32%), consumer goods (0.2%) and transport (0.14%).
About 71% of the traded stocks extended gains with major movers being Industries Qatar, Barwa, Gulf International Services, Qatar National Cement, Mazaya Qatar, Al Khaliji, Qatar Oman Investment, Commercial Bank, Doha Bank and Islamic Holding Group.
Nevertheless, Alijarah Holding, Aamal Company, Qatari German Company for Medical Devices, Gulf Warehousing, Milaha and Dlala were among the losers.
Local retail investors’ net buying strengthened influentially to QR10.1mn compared to QR6.46mn on Tuesday.
The GCC (Gulf Cooperation Council) funds’ net buying also increased considerably to QR9.17mn against QR0.58mn on Tuesday.
Non-Qatari individual investors’ net buying rose marginally to QR3.01mn compared to QR2.44mn the previous day.
The GCC retail investors turned net buyers to the tune of QR0.26mn against net sellers of QR1.59mn on September 19.
However, non-Qatari institutions’ net selling increased substantially to QR37.32mn compared to QR26.52mn on Tuesday.
Domestic institutions’ net buying weakened perceptibly to QR14.73mn against QR18.64mn the previous day.
Total trade volume fell 37% to 10.42mn shares, while value gained 37% to QR331.12mn despite 10% fall in deals to 2,636.
The telecom sector reported 73% plunge in trade volume to 1.12mn equities, 66% in value to QR15.32mn and 44% in transactions to 195.
The transport sector’s trade volume plummeted 54% to 0.18mn stocks, value by 61% to QR4.88mn and deals by 45% to 187.
There was 37% shrinkage in the industrials sector’s trade volume to 3.47mn shares but value more than doubled to QR126.51mn on 3% rise in transactions to 672.
The banks and financial services sector’s trade volume tanked 34% to 3.87mn equities, whereas value soared 56% to QR148.51mn despite 6% decline in deals to 988.
The consumer goods sector saw 16% decline in trade volume to 0.16mn stocks and 36% in value to QR10.19mn but on 25% increase in transactions to 188.
However, the real estate sector’s trade volume more than tripled to 1.54mn shares and value more than doubled to QR21.17mn on 31% jump in deals to 361.
Although the insurance sector’s trade volume was float at 0.09mn equities, there was 32% expansion in value to QR4.55mn but on 59% slump in transactions to 45.
In the debt market, there was no trading of treasury bills and government bonds.
The increased buying interests of non-Qatari individuals also helped the market, whose year-to-date losses were at 20.01%.
Islamic equities were seen gaining slower than the main index and other indices in the bourse, whose capitalisation expanded 0.63% to QR455.58bn.
GCC individuals turned marginally bullish amidst stronger selling pressure from non-Qatari institutions and lower buying support from their domestic counterparts.
The strong purchases led the market near 8,340 points within the first 90 minutes, after which there was profit-booking for the next 60 minutes to drive the index down to a low near 8,300 points.
Although the market witnessed largely a roller coaster drive for the remainder of the session, overall strong buying was visible, especially in the last few minutes of closing, thus settling the index 59 points higher.
Trade turnover expanded amidst lower volumes in the market, where banking and industrials sectors together accounted for more than 70% of the total volume.
The Total Return Index rose 0.71% to 13,999.19 points; the Al Rayan Islamic Index by 0.66% to 3,356.6 points and the All Share Index by 0.65% to 2,378.7 points.
The realty index gained 0.96%, followed by banks and financial services (0.76%), industrials (0.55%), insurance (0.53%), telecom (0.32%), consumer goods (0.2%) and transport (0.14%).
About 71% of the traded stocks extended gains with major movers being Industries Qatar, Barwa, Gulf International Services, Qatar National Cement, Mazaya Qatar, Al Khaliji, Qatar Oman Investment, Commercial Bank, Doha Bank and Islamic Holding Group.
Nevertheless, Alijarah Holding, Aamal Company, Qatari German Company for Medical Devices, Gulf Warehousing, Milaha and Dlala were among the losers.
Local retail investors’ net buying strengthened influentially to QR10.1mn compared to QR6.46mn on Tuesday.
The GCC (Gulf Cooperation Council) funds’ net buying also increased considerably to QR9.17mn against QR0.58mn on Tuesday.
Non-Qatari individual investors’ net buying rose marginally to QR3.01mn compared to QR2.44mn the previous day.
The GCC retail investors turned net buyers to the tune of QR0.26mn against net sellers of QR1.59mn on September 19.
However, non-Qatari institutions’ net selling increased substantially to QR37.32mn compared to QR26.52mn on Tuesday.
Domestic institutions’ net buying weakened perceptibly to QR14.73mn against QR18.64mn the previous day.
Total trade volume fell 37% to 10.42mn shares, while value gained 37% to QR331.12mn despite 10% fall in deals to 2,636.
The telecom sector reported 73% plunge in trade volume to 1.12mn equities, 66% in value to QR15.32mn and 44% in transactions to 195.
The transport sector’s trade volume plummeted 54% to 0.18mn stocks, value by 61% to QR4.88mn and deals by 45% to 187.
There was 37% shrinkage in the industrials sector’s trade volume to 3.47mn shares but value more than doubled to QR126.51mn on 3% rise in transactions to 672.
The banks and financial services sector’s trade volume tanked 34% to 3.87mn equities, whereas value soared 56% to QR148.51mn despite 6% decline in deals to 988.
The consumer goods sector saw 16% decline in trade volume to 0.16mn stocks and 36% in value to QR10.19mn but on 25% increase in transactions to 188.
However, the real estate sector’s trade volume more than tripled to 1.54mn shares and value more than doubled to QR21.17mn on 31% jump in deals to 361.
Although the insurance sector’s trade volume was float at 0.09mn equities, there was 32% expansion in value to QR4.55mn but on 59% slump in transactions to 45.
In the debt market, there was no trading of treasury bills and government bonds.
