Foreign institutions’ sustained buying interests on Tuesday lifted the Qatar Stock Exchange for the third straight session and its key index settled above 9,800 levels and capitalisation expanded by QR12bn.
Robust buying interests — especially in the banking counter — led the 20-stock Qatar Index surge 1.8% or 173 points to reach year’s high of 9,825.11 points.
Doha Bank and Masraf Al Rayan sponsored exchange traded funds QETF and QATR reported 7.34% and 0.82% gains respectively.
The Islamic equities were seen underperforming other indices on the market, which reported 15.27% gains year-to-date.
However, local retail investors and domestic institutions were increasingly bearish in the bourse, whose capitalisation gained 2.23% to QR539.85bn.
Trade turnover and volumes were on the increase on the market, where banking and real estate sectors together accounted for about 59% of the total volume.
The Total Return Index rose 1.8% to 17,310.75 points, All Share Index by 1.97% to 2,847.79 points and Al Rayan Islamic Index (Price) by 0.73% to 2,378.39 points.
The banks and financial services index soared 3.67%, realty (1.28%), telecom (0.79%), insurance (0.53%), industrials (0.41%) and consumer goods (0.07%); while transport was down 0.09%.
About 66% of the traded stocks extended gains with major movers being QNB, Qatar Islamic Bank, Commercial Bank, Doha Bank, Masraf Al Rayan, Dlala, Zad Holding, Aamal Company, Qatar Insurance, Ezdan and Ooredoo; whereas Qatar First Bank, Qatar National Cement, Gulf International Services and Nakilat were among the losers.
Non-Qatari institutions’ net buying strengthened influentially to QR101.57mn compared to QR64.04mn on Monday.
The Gulf individual investors’ net buying increased marginally to QR0.36mn against QR0.05mn the previous day.
However, local individual investors’ net selling grew considerably to QR54.79mn compared to QR45.51mn on July 30.
Domestic institutions’ net profit booking also expanded substantially to QR31.2mn against QR16.52mn on Monday.
Non-Qatari individuals’ net selling rose significantly to QR12.43mn compared to QR4.88mn the previous day.
The Gulf institutions turned net profit takers to the tune of QR3.48mn against net buyers of QR2.85mn on July 30.
Total trade volume rose 21% to 10.16mn shares, value by 50% to QR362.35mn and transactions by 46% to 4,986.
The consumer goods sector’s trade volume more than doubled to 0.27mn equities and value almost tripled to QR29.49mn on 15% jump in deals to 260.
The banks and financial services sector’s trade volume almost doubled to 3.93mn stocks and value grew 79% to QR187.02mn on more than doubled transactions to 1,943.
The real estate sector reported 71% surge in trade volume to 2.04mn shares, 98% in value to QR27.09mn and 58% in deals to 745.
The industrials sector’s trade volume shot up 51% to 1.27mn equities to more than double value to QR65.62mn on 63% increase in transactions to 1,031.
However, there was 48% plunge in the transport sector’s trade volume to 1.16mn stocks, 43% in value to QR23.59mn and 7% in deals to 416.
The telecom sector’s trade volume plummeted 31% to 1.2mn shares, value by 36% to QR19.56mn and transactions by 32% to 434.
The insurance sector saw 21% shrinkage in trade volume to 0.27mn equities and 15% in value to QR9.97mn but on 80% increase in deals to 157.
In the debt market, there was no trading of treasury bills and sovereign bonds.