The Qatar Stock Exchange on Tuesday remained under buying spotlight for the second straight session on foreign institutions’ sustained robust demand and capitalisation inched near the QR500bn mark.
Stronger buying – especially in real estate, banking and consumer goods – imparted a 0.55% thrust to the 20-stock Qatar Index to reach 8,993.22 points.
Doha Bank and Masraf Al Rayan sponsored exchange traded funds QETF and QATR gained 0.34% and 1.63% respectively.
Domestic institutions’ weakened net selling also helped the market, which is up 5.51% year-to-date.
Buying was seen more pronounced within large and small cap segments in the bourse, whose capitalisation expanded 0.63% to QR499bn.
Trade turnover grew amidst lower volumes in the market, where banking and industrials sectors together accounted for about 80% of the total volume.
The Total Return Index rose 0.55% to 15,845.05 points, All Share Index by 0.68% to 2,640.51 points and Al Rayan Islamic Index (Price) by 0.45% to 2,191.24 points.
The realty index soared 1.55%, banks and financial services (1.01%), consumer goods (0.71%) and transport (0.55%); while industrials declined 0.21%, telecom (0.03%) and insurance (0.01%).
More than 71% of the stocks extended gains with major movers being Mesaieed Petrochemical Holding, Qatar Islamic Bank, Doha Bank, Commercial Bank, Qatar Oman Investment, Woqod, Gulf International Services, Ezdan, United Development Company and Nakilat; even as QIIB, Islamic Holding Group, Medicare Group, Industries Qatar and Vodafone Qatar were among the losers.
Non-Qatari institutions’ net buying shot up substantially to QR175.47mn compared to QR83.08mn on May 21.
Domestic funds’ net profit booking weakened considerably to QR46.42mn against QR72.81mn the previous day.
However, local individuals turned net sellers to the tune of QR79.34mn compared with net buyers of QR12.07mn on Monday.
The Gulf institutions’ net selling expanded significantly to QR49.87mn against QR23.79mn on May 21.
The Gulf individuals’ net profit booking grew perceptibly to QR1.16mn compared to QR0.31mn the previous day.
Non-Qatari individual investors’ net buying weakened marginally to QR1.29mn against QR1.8mn on Monday.
Total trade volume fell 12% to 9.1mn shares, while value rose 10% to QR431.02mn despite 23% lower transactions at 4,501.
The transport sector’s trade volume plummeted 77% to 0.23mn equities, value by 62% to QR6.25mn and deals by 62% to 213.
The telecom sector saw 76% plunge in trade volume to 0.59mn stocks, 73% in value to QR7.89mn and 49% in transactions to 237.
The consumer goods sector’s trade volume tanked 60% to 0.17mn shares, value by 55% to QR10.86mn and deals by 47% to 252.
The real estate sector reported 57% shrinkage in trade volume to 0.57mn equities, 47% in value to QR6.21mn and 37% in transactions to 320.
However, the insurance sector’s trade volume more than doubled to 0.31mn stocks and value also more than doubled to QR10.56mn on 1% growth in deals to 136.
The industrials sector’s trade volume more than doubled to 3.14mn shares, value soared 87% to QR105.14mn and transactions by 31% 1,262.
The banks and financial services sector saw 14% expansion in trade volume to 4.1mn equities and 14% in value to QR284.12mn on 24% decline in deals to 2,081.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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