The Qatar Stock Exchange yesterday opened the week on a strong note and its key index crossed the 9,100 levels, mainly on the back of robust buying interests at the industrials counters.
Domestic institutions turned net buyers as the 20-stock Qatar Index gained 1% in the third straight session to 9,114.23 points.
Doha Bank-sponsored exchange traded fund QETF witnessed 1.4% gains; while Masraf Al Rayan-sponsored QATR treaded a flat path.
Islamic stocks were seen underperforming the other indices in the market, which is up 6.93% year-to-date.
However, local retail investors and Gulf institutions were increasingly net profit-takers in the bourse, whose capitalisation rose about 1% to QR498.54bn, mainly lifted by micro and large caps.
Trade turnover and volumes were on the decline in the market, where the banking and telecom sectors together accounted for about 62% of the total volume.
The Total Return Index grew 1% to 16,058.27 points, the All Share Index by 0.86% to 2,643.78 points and the Al Rayan Islamic Index (Price) by 0.46% to 2,219.69 points.
The industrials index soared 1.52%, followed by telecom (0.86%), banks and financial services (0.85%), realty (0.71%), insurance (0.33%) and transport (0.3%); while consumer goods was down 0.04%.
About 67% of the traded stocks extended gains with major movers being Industries Qatar, QNB, Qatari Investors Group, Qatar National Cement, Gulf International Services, Dlala, Zad Holding, Mazaya Qatar, Barwa and Vodafone Qatar; even as Aamal Company, Alijarah Holding and Al Meera were among the losers.
Domestic institutions turned net buyers to the tune of QR1.38mn compared with net sellers of QR29.44mn on June 28.
Non-Qatari individuals’ net profit-booking declined marginally to QR2.17mn against QR2.92mn the previous trading day.
However, local individuals’ net selling strengthened considerably to QR18.66mn compared to QR9.55mn last Thursday.
Gulf institutional investors’ net selling grew influentially to QR4.84mn against QR0.66mn on June 28.
Gulf individuals’ net profit-booking increased perceptibly to QR0.7mn compared to QR0.33mn the previous day.
Non-Qatari institutions’ net buying weakened significantly to QR25mn against QR42.93mn last Thursday.
Total trade volume fell 44% to 4.76mn shares, value by 54% to QR127.69mn and transactions by 34% to 2,464.
The telecom sector’s trade volume plummeted 73% to 0.93mn equities, value by 74% to QR10.3mn and deals by 52% to 205.
The real estate sector reported a 69% plunge in trade volume to 0.37mn stocks, 72% in value to QR6.16mn and 61% in transactions to 221.
The transport sector’s trade volume tanked 64% to 0.28mn shares, value by 70% to QR10.08mn and deals by 21% to 230.
There was a 29% shrinkage in the insurance sector’s trade volume to 0.25mn equities, 31% in value to QR8.69mn and 11% in transactions to 217.
The consumer goods sector’s trade volume declined 13% to 0.2mn stocks, value by 31% to QR14.83mn and deals by 20% to 237.
However, the industrials sector saw a 12% surge in trade volume to 0.73mn shares but on a 24% fall in value to QR27.83mn and 10% in transactions to 532.
The banks and financial services sector’s trade volume was up 7% to 2mn equities, whereas value shrank 55% to QR49.79mn and deals by 38% to 812.
In the debt market, there was no trading of treasury bills and sovereign bonds.