Foreign institutions’ sustained buying support extended bullish power to the Qatar Stock Exchange, which on Thursday inched near 9,800 levels.
Banking and consumer goods counters witnessed higher than average demand, helping the 20-stock Qatar Index gain 0.57% to 9,784.31 points.
Doha Bank sponsored exchange traded fund QETF witnessed 0.1% gains, while Masraf Al Rayan sponsored QATR declined 0.38%.
The Islamic equities were seen gaining slower than the other indices in the market which is up 14.79% year-to-date.
Trade turnover grew amidst lower volumes on the bourse, where banking, real estate and industrials sectors together accounted for more than 73% of the total volume.
The Total Return Index rose 0.57% to 17,238.86 points, All Share Index by 0.7% to 2,890.18 points and Al Rayan Islamic Index (Price) by 0.1% to 2,333.89 points.
The banks and financial services index gained 1.26%, consumer goods (0.72%), industrials (0.56%), realty (0.4%) and insurance (0.08%); while transport and telecom declined 0.96% and 0.66% respectively.
About 55% of the traded stocks extended gains with major movers being Qatar Islamic Bank, QNB, Commercial Bank, Widam Food, Gulf International Services and Ezdan; while Nakilat, al khaliji, Medicare Group, Mazaya Qatar, Ooredoo, Vodafone Qatar and Gulf Warehousing were among the losers.
Non-Qatari institutions’ net buying increased influentially to QR103.54mn compared to QR52.83mn the previous day.
The Gulf individual investors’ net buying strengthened marginally to QR0.15mn against QR0.03mn on Wednesday.
However, domestic institutions’ net profit booking grew considerably to QR61.92mn compared to QR54mn on September 26.
Local individual investors’ net selling expanded significantly to QR29.92mn against QR3.9mn the previous day.
The Gulf institutions’ net profit booking rose perceptibly to QR9.49mn compared to QR2.92mn on Wednesday.
Non-Qatari individuals turned net sellers to the tune of QR2.4mn against net buyers of QR7.99mn on September 26.
Total trade volume fell 14% to 6.93mn shares, while value rose 3% to QR307.15mn despite 3% lower transactions at 4,499.
The consumer goods sector’s trade volume plummeted 44% to 0.37mn equities, value by 41% to QR45.92mn and deals by 45% to 335.
The industrials sector reported 42% plunge in trade volume to 1mn stocks but on 18% jump in value to QR51.95mn despite 4% lower transactions to 815.
The real estate sector’s trade volume tanked 23% to 1.26mn shares and value by 4% to QR22.9mn; while deals grew 15% to 763.
The telecom sector saw 18% shrinkage in trade volume to 0.32mn equities but on flat value at QR5.89mn despite 57% expansion in transactions to 234.
The banks and financial services sector’s trade volume shrank 12% to 2.81mn stocks, while value was up 6% to QR143.42mn despite 14% lower deals at 1,837.
However, the insurance sector’s trade volume more than tripled to 0.66mn shares and value also more than tripled to QR24.71mn on 84% surge in transactions to 177.
The transport sector’s trade volume more than doubled to 0.51mn equities and value more than doubled to QR12.36mn on more than doubled deals to 338.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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