The Qatar Stock Exchange on Thursday stood above 9,200 level and capitalisation rose to QR505bn on the back of strong buying in consumer goods, banking and telecom counters.
Non-Qatari individuals’ bullish outlook and Gulf funds’ substantially weakened net selling helped the 20-stock Qatar Index gain 0.45% to 9,200.1 points, although the market saw an intra-day low of 9,140 points. The local bourse is up 7.94% year-to-date.
Buying was seen more pronounced in Islamic stocks in the market, whose capitalisation gained 0.36%.
Trade turnover and volumes were, however, on the decline in the bourse, where banking, industrials and real estate sectors together accounted for about 84% of the total volume.
The Total Return Index gained 0.45% to 15,428.02 points, the All Share Index by 0.3% to 2,612.09 points and the Al Rayan Islamic Index by 0.48% to 3,662.9 points.
The consumer goods index expanded 0.89%, followed by banks and financial services (0.85%), telecom (0.54%) and industrials (0.08%); while realty declined 0.8%, insurance (0.36%) and transport (0.06%).
About 55% of the stocks extended gains with major movers being Qatar Islamic Bank, QIIB, Commercial Bank, al khaliji, Qatar First Bank, Barwa, Ooredoo and Gulf Warehousing.
Nevertheless, Industries Qatar, Alijarah Holding, Qatari Investors Group, United Development Company, Mazaya Qatar, Ezdan, Vodafone Qatar and Milaha were among the losers.
Non-Qatari retail investors turned net buyers to the tune of QR2.64mn compared with net sellers of QR4.23mn on January 17.
The Gulf institutions’ net profit-booking declined substantially to QR6.72mn against QR60.19mn on Wednesday.
However, local individuals turned net sellers to the extent of QR34.56mn compared with net buyers of QR2.11mn the previous day.
Domestic institutions’ net buying weakened considerably to QR6.57mn against QR30.74mn on January 17.
Non-Qatari institutions’ net buying fell marginally to QR34.44mn compared to QR36.32mn on Wednesday.
The Gulf retail investors’ net profit-booking grew perceptibly to QR2.33mn against QR0.55mn the previous day.
Total trade volume fell 19% to 11.08mn shares, value by 30% to QR242.52mn and deals by 20% to 4,013.
The transport sector reported a 58% plunge in trade volume to 0.24mn equities, 45% in value to QR6.44mn and 10% in transactions to 190.
The insurance sector’s trade volume plummeted 47% to 0.09mn stocks, value by 53% to QR4.56mn and deals by 53% to 94.
The banks and financial services sector saw a 42% shrinkage in trade volume to 4.39mn shares, 44% in value to QR89.83mn and 37% in transactions to 1,245.
The consumer goods sector’s trade volume tanked 22% to 0.76 equities, while value grew 25% to QR56.9mn and deals by 9% to 763.
However, there was a 47% surge in the industrials sector’s trade volume to 3.11mn stocks but on a 43% decline in value to QR45.96mn and 26% in transactions to 749.
The telecom sector’s trade volume soared 21% to 0.74mn shares, value by 29% to QR15.45mn and deals by 55% to 366.
The market witnessed a 1% rise in the real estate sector’s trade volume to 1.76mn equities but on a 15% slump in value to QR23.39mn and 8% in transactions to 606.
In the debt market, there was no trading of treasury bills, while as many as 65,000 sovereign bonds valued at QR643.5mn changed hands across one deal.