Strong buying especially in telecom on Thursday instilled bullish momentum on the Qatar Stock Exchange.
Foreign institutions were seen net buyers as the 20-stock Qatar Index gained 0.83% to 7,825.77 points.
However, local as well as non-Qatari retail investors and domestic funds turned bearish in the market, whose year-to-date losses were at 25.02%.
Islamic equities were seen declining in the bourse, whose capitalisation grew 0.44% to QR420.54bn.
Trade turnover and volumes were on the decline in the market, where the banking, real estate and industrials sectors together accounted for more than 74% of the total volume.
The Total Return Index gained 0.83% to 13,123.35 points and the All Share Index by 0.15% to 2,136.8 points, while the Al Rayan Islamic Index was down 0.05% to 2,945.48 points.
The telecom index expanded 2.17%, followed by industrials (0.57%), banks and financial services (0.57%) and transport (0.1%); whereas realty tanked 2.28%, consumer goods (0.5%) and insurance (0.48%).
Major gainers included Commercial Bank, Industries Qatar, Barwa, Ooredoo and Milaha; while Qatar First Bank, Qatari Investors Group, Gulf International Services, Aamal Company, Qatari German Company for Medical Devices, Ezdan and Mazaya Qatar were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR26.23mn compared with net sellers of QR22.77mn on November 15.
GCC (Gulf Cooperation Council) retail investors’ net buying rose marginally to QR0.18mn against QR0.15mn on Wednesday.
However, local retail investors were net sellers to the extent of QR10.58mn compared with net buyers of QR16.6mn the previous day.
Domestic institutions were also net sellers to the tune of QR7.34mn against net buyers of QR2.32mn on November 15.
Non-Qatari individual investors turned net sellers to the extent of QR6.19mn compared with net buyers of QR5.72mn on Wednesday.
GCC institutions’ net profit-booking strengthened marginally to QR2.32mn against QR2.03mn the previous day.
Total trade volume fell 13% to 6.06mn shares and value by 13% to QR166.04mn, while deals were up 2% to 2,701.
There was an 88% plunge in the insurance sector’s trade volume to 0.06mn equities, 82% in value to QR2.43mn and 36% in transactions to 64.
The transport sector’s trade volume plummeted 69% to 0.27mn stocks, value by 79% to QR5.38mn and deals by 29% to 227.
The telecom sector reported a 36% shrinkage in trade volume to 1.03mn shares, 31% in value to QR10.17mn and 10% in transactions to 226.
The banks and financial services sector saw a 10% decline in trade volume to 1.91mn equities, 18% in value to QR72.44mn and 9% in deals to 867.
However, the industrials sector’s trade volume soared 61% to 1.21mn stocks, value by 69% to QR47.21mn and transactions by 55% to 688.
The market witnessed a 47% surge in the real estate sector’s trade volume to 1.38mn shares, 96% in value to QR21.49mn and 18% in deals to 436.
The consumer goods sector’s trade volume shot up 33% to 0.2mn equities, whereas value shrank 31% to QR6.92 and transactions by 11% to 193.
In the debt market, there was no trading of treasury bills and sovereign bonds.