Foreign institutions’ substantially strengthened buying interests on Tuesday imparted a strong 183 points thrust to the Qatar Stock Exchange, whose key index broke the 9,600 levels with an ease.
An across the board buying – particularly in telecom and banking – lifted the 20-stock Qatar Index by a robust 1.94% to 9,618.33 points.
Doha Bank and Masraf Al Rayan sponsored exchange traded funds QETF and QATR however witnessed 0.54% and 1.68% declines respectively.
The Islamic stocks were however seen underperforming the main index on the market, which reported 12.85% year-to-date gains.
However, local and non-Qatari retail investors were increasingly net sellers and Gulf and domestic funds turned bearish in the bourse, whose capitalisation expanded 1.8% to QR523.98bn, mainly owing to large caps.
Trade turnover and volumes were on the increase on the market, where banking, telecom, industrials and real estate sectors together accounted for more than 80% of the total volume.
The Total Return Index gained 1.94% to 16,946.42 points, All Share Index by 1.69% to 2,765.58 points and Al Rayan Islamic Index (Price) by 1.72% to 2,355.84 points.
The telecom index soared 2.16%, banks and financial services (2.09%), industrials (1.84%), transport (1.19%), consumer goods (1.13%), realty (0.73%) and insurance (0.58%).
More than 80% of the traded stocks extended gains with major movers being Industries Qatar, QNB, Qatar Islamic Bank, Commercial Bank, Ooredoo, Vodafone Qatar, Aamal Company, Ahlibank, QIIB and Nakilat; even as Dlala, Doha Bank and Qatar National Cement were among the losers.
Non-Qatari institutions’ net buying strengthened considerably to QR112.73mn compared to QR30.6mn on Monday.
However, local individual investors’ net profit booking increased substantially to QR98.08mn against QR30.81mn on July 23.
The Gulf institutions turned net sellers to the tune of QR7.22mn compared with net buyers of QR0.66mn the previous day.
Non-Qatari individual investors’ net profit booking rose perceptibly to QR5.48mn against QR0.71mn on Monday.
The Gulf individual investors’ net selling grew influentially to QR1.38mn compared to QR0.18mn on July 23.
Domestic institutions were net profit takers to the extent of QR0.61mn against net buyers of QR0.43mn the previous day.
Total trade volume rose 84% to 8.39mn shares, value by 99% to QR306.01mn and transactions by 37% at 4,120.
The industrials sector’s trade volume more than tripled to 1.26mn equities and value more than doubled to QR54.26mn on 66% increase in deals to 1,060.
The telecom sector’s trade volume more than tripled to 1.49mn stocks and value more than doubled to QR24.06mn; whereas transactions were down 1% to 356.
The consumer goods sector’s trade volume more than doubled to 0.34mn shares and value also more than doubled to QR37.24mn on more than doubled deals to 349.
The real estate sector’s trade volume soared 80% to 1.15mn equities, 27% in value to QR15.26mn and 15% in transactions to 393.
The banks and financial services sector saw 47% surge in trade volume to 2.83mn stocks, 92% in value to QR143.59mn and 32% in deals to 1,532.
The transport sector’s trade volume expanded 33% to 0.96mn shares, value by 60% to QR18.78mn and transactions by 52% to 322.
There was 33% increase in insurance sector’s trade volume to 0.36mn equities and 31% in value to QR12.81mn but on 11% decline in deals to 108.
In the debt market, there was no trading of treasury bills and sovereign bonds.
