The Qatar Stock Exchange on Monday snapped three days of bearish sentiments to close in the positive trajectory and its key index surpassed 8,300 levels, mainly on foreign institutions’ buying support.
Banking, transport and consumer goods counters witnessed strong demand, which lifted the 20-stock Qatar Index by 0.12% to 8,301.79 points.
Islamic equities were, however, seen declining on the bourse, whose year-to-date losses were at 20.46%. Both Gulf institutions and non-Qatari individuals turned marginally bullish in the market, whose capitalisation was down 0.09% to QR453.23bn.
The market had hit a high of more than 8,310 points within the first 15 minutes, after which it was on a roller-coaster drive, albeit at lower levels.
There was some strong buying support especially in the last few minutes, thus overall settling the index 10 points higher.
Trade turnover and volumes were on the decline on the bourse, where telecom, industrials and banking sectors together accounted for more than 87% of the total volume.
The Total Return Index gained 0.12% to 13,921.6 points, while Al Rayan Islamic Index lost 0.11% to 3,363.04 points and All Share Index by 0.07% to 2,357.93 points.
The banks and financial services index gained 0.38%, transport (0.34%) and consumer goods (0.13%); whereas insurance declined 0.89%, industrials (0.63%), telecom (0.46%) and real estate (0.37%). Major gainers included Masraf Al Rayan, Al khaliji, Barwa, Milaha, Gulf Warehousing, QIIB, Qatar Islamic Bank and Medicare Group; even as Gulf International Services, Vodafone Qatar, Doha Bank, Alijarah Holding and Qatar First Bank were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR13.92mn compared with net sellers of QR6.11mn the previous day.
The GCC (Gulf Cooperation Council) funds were net buyers to the extent of QR0.7mn against net sellers of QR0.55mn on Sunday.
Non-Qatari individual investors were also net buyers to the tune of QR0.53mn compared with net sellers of QR3.01mn on October 1.
However, domestic institutions turned net sellers to the extent of QR14.07mn against net buyers of QR9.05mn the previous day.
Local retail investors were also net sellers to the tune of QR0.58mn compared with net buyers of QR0.97mn on Sunday.
The GCC retail investors’ net profit booking rose marginally to QR0.5mn against QR0.35mn on October 1.
Total trade volume fell 6% to 7.97mn shares and value by 6% to QR165.73mn, whereas deals grew 9% to 2,128.
There was 55% plunge in the real estate sector’s trade volume to 0.59mn equities and 37% in value to QR11.21mn but on 27% increase in transactions to 271.
The insurance sector’s trade volume plummeted 31% to 0.09mn stocks and value by 48% to QR3.04mn, while deals expanded 67% to 102.
The consumer goods sector witnessed 22% shrinkage in trade volume to 0.07mn shares, 27% in value to QR3.3mn and 1% in transactions to 110.
The banks and financial services sector’s trade volume tanked 17% to 1.63mn equities, while value was up 1% to QR77.14mn and deals by 24% to 763.
However, the market witnessed 19% surge in the industrials sector’s trade volume to 2.43mn stocks and 8% in value to QR35.29mn but on 13% decline in transactions to 482.
The transport sector’s trade volume soared 13% to 0.27mn shares, value by 5% to QR5.52mn and deals by 1% to 133.
The telecom sector reported 9% increase in trade volume to 2.9mn equities but on 12% slump in value to QR30.22mn and 2% in transactions to 267.
In the debt market, there was no trading of treasury bills and government bonds.
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