Investors’ penchant for blue chips on Tuesday placed the Qatar Stock Exchange (QSE) above 9,300 levels and capitalisation expanded about QR9bn.
Buying interests – particularly in telecom, insurance, real estate and transport – led the 20-stock Qatar Index surge 2.12% or 186 points to 9,310.19 points.
Masraf Al Rayan and Doha Bank sponsored exchange traded funds QATR and QETF reported 3.14% and 2.53% gains respectively.
Islamic stocks were however seen underperforming the market, which is up 9.23% year-to-date.
Stronger gains – especially in the large cap stocks – expanded the market capitalisation 1.77% to QR514.45bn.
Trade turnover and volume were on the increase in the market, where transport and banking sectors together accounted for about 51% of the total volume.
The Total Return Index gained 2.12% to 16,405.09 points, All Share Index by 1.92% to 2,721.99 points and Al Rayan Islamic Index (Price) by 1.98% to 2,253.95 points.
The telecom index soared 4.82%, insurance (3.83%), realty (3.58%), transport (2.6%), industrials (1.35%), banks and financial services (1.19%) and consumer goods (1.11%).
More than 79% of the stocks extended gains with major movers being Ooredoo, Qatar Insurance, United Development Company, Barwa, Ezdan, Mazaya Qatar, Nakilat, Industries Qatar, Gulf International Services, QIIB, Masraf Al Rayan, Qatar Islamic Bank, Commercial Bank, Doha Bank, Zad Holding, Qatari Investors Group and Vodafone Qatar; even as Doha Insurance, Gulf Warehousing and Milaha were among the losers.
Local individual investors’ net selling declined substantially to QR96.9mn compared to QR206.98mn the previous day.
Domestic institutions’ net profit booking weakened considerably to QR1.17mn against QR43.15mn on Monday.
The Gulf individual investors’ net selling declined marginally to QR5.47mn compared to QR6.13mn on June 4.
However, the Gulf institutions’ net profit booking increased influentially to QR31.74mn against QR5.18mn the previous day.
Non-Qatari individuals’ net selling strengthened perceptibly to QR11.94mn compared to QR9.69mn on Monday.
Non-Qatari institutions’ net buying contracted significantly to QR147.22mn against QR271.13mn on June 4.
Total trade volume rose 63% to 16.48mn shares, value by 7% to QR557.85mn and transactions by 9% to 7,561.
The real estate sector’s trade volume more than quadrupled to 2.03mn equities and value grew more than five-fold to QR31.86mn on more than doubled deals to 632.
The transport sector’s trade volume more than doubled to 4.3mn stocks and value also more than doubled to QR71.49mn on 27% jump in transactions to 1,093.
There was 90% surge in the industrials sector’s trade volume to 2.45mn shares and 11% in value to QR80.51mn but on 18% fall in deals to 1,333.
The insurance sector’s trade volume soared 84% to 1.07mn equities, value by 96% to QR40.14mn and transactions by 23% to 339.
The consumer goods sector reported 33% increase in trade volume to 0.53mn stocks, value by 18% to QR29.37mn and deals by 11% to 534.
The telecom sector’s trade volume expanded 16% to 2.01mn shares and value more than doubled to QR45.37mn on 67% higher transactions at 778.
The banks and financial services sector’s trade volume was up 9% to 4.09mn equities, whereas value shrank 25% to QR259.11mn and deals by 4% to 2,852.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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