Strong buying – especially in telecom, real estate and transport counters– on Sunday gave more than 102 points thrust to the Qatar Stock Exchange, which inched near 9,000 levels.
Domestic and Gulf institutions turned bullish as the 20-stock Qatar Index gained 1.16% to 8,908.03 points.
Masraf Al Rayan and Doha Bank sponsored exchange traded funds QATR and QETF witnessed 0.48% and 2.96% gains respectively.
However, local and Gulf retail investors were profit takers in the market, which is up 4.51% year-to-date.
Buying was seen more pronounced within mid and large cap segments in the bourse, whose capitalisation expanded 1.05% to QR493.64bn.
Trade turnover shrank amidst higher volumes in the market, where telecom and industrials sectors together accounted for more than 71% of the total volume.
The Total Return Index gained 1.16% to 15,694.96 points, All Share Index by 1.14% to 2,620.1 points and Al Rayan Islamic Index (Price) by 0.89% to 2,219.85 points.
The telecom index soared 4.02%, realty (3.04%), transport (1.95%), banks and financial services (0.87%), consumer goods (0.43%) and industrials (0.32%); whereas insurance fell 1.16%.
More than 65% of the traded stocks extended gains with major movers being Ooredoo, Vodafone Qatar, Alijarah Holding, Ezdan, Nakilat, Commercial Bank, Al Meera, Mazaya Qatar and Barwa; whereas Doha Insurance, Qatar General and Reinsurance, Qatari German Company for Medical Devices and Aamal Company were among the losers.
Domestic institutions’ net buying increased influentially to QR20.1mn compared to QR2.69mn on May 3.
The Gulf institutions turned net buyers to the tune of QR2.24mn against net profit takers of QR7.14mn the previous day.
Non-Qatari institutions’ net selling weakened marginally to QR14.55mn compared to QR14.79mn last Thursday.
However, local individual investors turned net sellers to the extent of QR8.57mn against net buyers of QR15.91mn on May 3.
The Gulf individuals were also net sellers to the tune of QR1.35mn compared with net buyers of QR0.95mn the previous day.
Non-Qatari individuals’ net buying declined marginally to QR2.15mn against QR2.39mn last Thursday.
Total trade volume rose 68% to 10.26mn shares but value fell 10% to QR181.86mn and transactions by 30% to 2,728.
The telecom sector’s trade volume grew more than five-fold to 5.19mn equities and value almost tripled to QR66mn on 23% jump in deals to 772. The industrials sector reported 72% surge in trade volume to 2.11mn stocks but on 29% decline in value to QR34.46mn and 31% in transactions to 463.
The consumer goods sector’s trade volume soared 24% to 0.36mn shares, while value shrank 20% to QR21.67mn and deals by 28% to 269.
There was 24% increase in the insurance sector’s trade volume to 0.21mn equities but on 40% fall in value to QR3.59mn and 65% in transactions to 60.
However, the real estate sector saw 49% plunge in trade volume to 0.61mn stocks, 38% in value to QR9.02mn and 47% in deals to 293.
The banks and financial services sector’s trade volume plummeted 20% to 1.48mn shares, value by 45% to QR42.28mn and transactions by 44% to 715.
The market witnessed 15% shrinkage in the transport sector’s trade volume to 0.29mn equities, 23% in value to QR4.84mn and 36% in deals to 156. In the debt market, there was no trading of treasury bills and sovereign bonds.
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