The Qatar Stock Exchange on Tuesday saw its key index surpass 9,900 levels mainly on the back of weakened selling pressure from domestic funds and local retail investors.
Telecom, banking and transport counters witnessed higher than average demand, leading to a 0.42% jump in 20-stock Qatar Index to 9,931.07 points.
Masraf Al Rayan and Doha Bank sponsored exchange traded funds QATR and QETF saw 0.21% and 0.66% gains respectively.
The Islamic equities were seen gaining faster than the other indices on the market, which reported 16.52% gains year-to-date.
Trade turnover and volumes were on the decline on the bourse, where banking, real estate and transport sectors together accounted for about 77% of the total volume.
The Total Return Index rose 0.42% to 17,497.45 points, All Share Index by 0.38% to 2,897.22 points and Al Rayan Islamic Index (Price) by 0.47% to 2,373.34 points.
The telecom index soared 0.72%, banks and financial services (0.55%), transport (0.53%), consumer goods (0.38%), industrials (0.26%) and realty (0.13%); while insurance declined 0.43%.
About 59% of the traded stocks extended gains with major movers being Ooredoo, Gulf Warehousing, Qatar Islamic Bank, Masraf Al Rayan, Widam Food, Aamal Company, Gulf International Services, Mazaya Qatar and Ezdan; whereas Doha Bank, Dlala, Qatar Electricity and Water and United Development Company were among the losers.
Domestic institutions’ net profit booking declined to QR13.35mn compared to QR34.85mn the previous day.
Local individual investors’ net selling weakened influentially to QR18.91mn against QR29.01mn on September 10.
The Gulf individuals’ net profit booking fell marginally to QR0.13mn compared to QR0.56mn on Monday.
Non-Qatari individuals turned net buyers to the tune of QR0.07mn against net sellers of QR2.15mn the previous day.
However, non-Qatari funds’ net buying weakened considerably to QR36.38mn compared to QR69.79mn on September 10.
The Gulf institutions’ net profit booking grew perceptibly to QR4.03mn against QR3.19mn on Monday.
Total trade volume fell 11% to 5.24mn shares, value by 6% to QR187.23mn and transactions by 11% to 3,157.
The industrials sector’s trade volume plummeted 64% to 0.68mn equities, value by 26% to QR33.65mn and deals by 6% to 837.
The telecom sector reported 55% plunge in trade volume to 0.25mn stocks, 49% in value to QR8.23mn and 53% in transactions to 171.
The real estate sector’s trade volume tanked 20% to 1.21mn shares, value by 34% to QR18.57mn and deals by 35% to 432.
However, the transport sector’s trade volume almost quadrupled to 1.07mn equities and value more than doubled to QR21.3mn on 81% jump in transactions to 400.
The consumer goods sector’s trade volume doubled to 0.2mn stocks, value soared 43% to QR12.9mn and deals by 32% to 178.
The banks and financial services sector saw 19% increase in trade volume to 1.74mn shares and 1% in value to QR89.41mn but on 11% decline in transactions to 1,077.
Although the insurance sector’s trade volume was flat at 0.09mn equities, there was 1% fall in value to QR3.16mn and 22% in deals to 62.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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