The Qatar Stock Exchange on Tuesday opened the year on a stronger footing with its key barometer surpassing 8,600 levels on an across the board buying, particularly in the real estate and consumer goods counters.
Foreign institutions and individuals were seen robustly bullish as the 20-stock Qatar Index gained 1.14% to 8,620.26 points.
Micro and small cap equities witnessed higher than average demand in the bourse, which, however, saw domestic and Gulf funds turn bearish and increased net selling by local retail investors.
Islamic equities outperformed the market, whose capitalisation gained more than 1% to QR477.06bn.
Trade turnover expanded amidst lower volumes in the bourse, where banking, industrials and real estate sectors together accounted for more than 79% of the total volume.
The Total Return Index rose 1.14% to 14,455.67 points, Al Rayan Islamic Index by 1.92% to 3,487.46 points and All Share Index by 1.06% to 2,478.6 points.
The realty index soared 1.89%, consumer goods (1.35%), telecom (1.13%), banks and financial services (0.93%), industrials (0.86%), transport (0.84%) and insurance (0.41%).
More than 73% of the stocks extended gains with major movers being Ahli Bank, Gulf Warehousing, Ooredoo, Vodafone Qatar, Barwa, Ezdan, Aamal Company, Gulf International Services, QNB, Alijarah Holding, Dlala, Medicare Group and Widam Food; even as Commercial Bank, Qatar First Bank, Al Khaliji, Qatar Industrial Manufacturing, Mazaya Qatar and Milaha were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR25.26mn compared with net sellers of QR2.94mn on December 31.
Non-Qatari retail investors were also net buyers to the extent of QR9.54mn against net profit takers of QR2.34mn last Thursday.
The Gulf individual investors’ net selling weakened marginally to QR0.26mn compared to QR1.21mn the previous trading day.
However, domestic institutions turned net sellers to the tune of QR20.73mn against net sellers of QR7.04mn on December 31.
Local individuals’ net profit booking strengthened perceptibly to QR9.68mn compared to QR2.1mn last Thursday.
The Gulf institutions were net sellers to the extent of QR4.16mn against net buyers of QR1.54mn the previous trading day.
Total trade volume fell 13% to 9.55mn shares, while value grew 21% to QR236.1mn and deals by 22% to 4,333.
The consumer goods sector saw 40% plunge in trade volume to 0.52mn equities but on 12% jump in value to QR33.86mn and 8% in transactions to 488.
The banks and financial services sector’s trade volume plummeted 25% to 3.31mn stocks, whereas value grew 32% to QR97.31mn and deals by 33% to 1,413.
There was 25% shrinkage in the insurance sector’s trade volume to 0.33mn shares and 29% in value to QR5.66mn but on 4% increase in transactions to 72.
The telecom sector’s trade volume declined 15% to 0.52mn equities, while value expanded 91% to QR14.96mn on more than doubled deals to 504.
The industrials sector reported 3% fall in trade volume to 2.31mn stocks, 6% in value to QR35.17mn and 19% in transactions to 860.
However, the transport sector’s trade volume almost doubled to 0.63mn shares and value more than doubled to QR14.99mn on more than quadrupled deals to 382.
The market witnessed 2% rise in the real estate sector’s trade volume to 1.94mn equities, 9% in value to QR34.14mn and 7% in transactions to 504.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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