Domestic institutions’ bullish outlook and local retail investors’ weakened net selling on Wednesday extended the bullish run at the Qatar Stock Exchange to the sixth straight session as its key barometer crossed 9,200 levels.
Buying interests – especially in telecom, industrials and consumer goods – lifted the 20-stock Qatar Index 0.46% to 9,230.6 points.
Masraf Al Rayan and Doha Bank sponsored exchange traded funds QATR and QETF witnessed 0.72% and 0.34% gains respectively.
Islamic stocks were seen outperforming the other indices in the market, which is up 7.97% year-to-date.
However, the Gulf institutions turned bearish and there were substantially lower buying interests from non-Qatari funds in the bourse, whose capitalisation grew 0.36% to QR503.33bn, mainly lifted by micro and midcaps.
Trade turnover and volumes were on the decline in the market, where the telecom and banking sectors together accounted for about 73% of the total volume.
The Total Return Index grew 0.46% to 16,263.29 points, the All Share Index by 0.41% to 2,674.14 points and the Al Rayan Islamic Index (Price) by 0.8% to 2,273.33 points.
The telecom index soared 1.83%, followed by industrials (0.98%), consumer goods (0.49%), realty (0.47%), transport (0.43%) and banks and financial services (0.07%); while insurance fell 0.77%.
About 58% of the traded stocks extended gains with movers being Industries Qatar, Aamal Company, Qatar First Bank, Ooredoo, Vodafone Qatar, Milaha, Gulf Warehousing and al khaliji; even as QNB, Gulf International Services, Mesaieed Petrochemical Holding and Nakilat were among the losers.
Domestic institutions turned net buyers to the tune of QR13.89mn compared with net sellers of QR2.73mn on Tuesday.
Local individual investors’ net selling weakened considerably to QR9.99mn against QR31.03mn the previous day.
Non-Qatari individuals’ net selling declined influentially to QR1.5mn compared to QR6.21mn on July 3.
However, Gulf institutions turned net sellers to the extent of QR3.99mn against net buyers of QR12.26mn on Tuesday.
Gulf individual investors’ net profit-booking increased perceptibly to QR3.04mn compared to QR1.17mn the previous day.
Non-Qatari institutions’ net buying declined significantly to QR4.62mn against QR28.94mn on July 3.
Total trade volume fell 27% to 8.87mn shares, value by 41% to QR163.45mn and transactions by 36% to 2,763.
The transport sector’s trade volume plummeted 78% to 0.23mn equities, value by 78% to QR5.03mn and deals by 75% to 104.
The real estate sector reported a 53% plunge in trade volume to 0.87mn stocks, 48% in value to QR14.9mn and 44% in transactions to 393.
The industrials sector’s trade volume tanked 47% to 0.76mn shares, value by 47% to QR23.59mn and deals by 37% to 558.
The banks and financial services sector saw a 39% shrinkage in trade volume to 2.14mn equities, 63% in value to QR44.45mn and 49% in transactions to 718.
The consumer goods sector’s trade volume declined 19% to 0.46mn stocks, while value rose 10% to QR26.89mn despite 14% lower deals at 302.
However, there was a 22% surge in the telecom sector’s trade volume to 4.33mn shares, 30% in value to QR45.57mn and 32% in transactions to 581.
Although the insurance sector’s trade volume was flat at 0.09mn equities, value grew 13% to QR3mn amidst 21% fall in deals to 107.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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