The Qatar Stock Exchange Tuesday broke the 10,000 resistance level, on an across-the-board buying, especially within the realty, transport and telecom counters.
The robust buying interests of foreign institutions led the 20-stock Qatar Index to surge 2.01% to touch more than a year high of 10,031.59 points, which is up 17.69% year-to-date.
Stronger buying interests, particularly in the midcap equities, resulted in market capitalisation expand about QR11bn or about 2% to QR559.55bn.
However, domestic funds turned bearish and there was increased net selling pressure from local retail investors in the market, where Islamic stocks were seen declining slower than other indices.
Doha Bank and Masraf Al Rayan sponsored exchange traded funds QETF and QATR reported 1.3% and 1.36% gains respectively.
Trade turnover and volumes were on the increase on the bourse, where real estate, banking and telecom sectors together accounted for more than 78% of the total volume.
The Total Return Index soared 2.01% to 17,674.55 points, Al Rayan Islamic Index (Price) by 1.42% to 2,379.59 points and All Share Index by 1.97% to 2,948.79 points.
The realty index surged 3.19%, transport (3.04%), telecom (2.13%), industrials (1.85%), banks and financial services (1.83%), consumer goods (1.03%) and insurance (0.52%).
About 77% of the traded stocks extended gains with major movers being Commercial Bank, Qatar Islamic Bank, QNB, QIIB, Masraf Al Rayan, Industries Qatar, Ezdan, Mazaya Qatar, Gulf International Services, Vodafone Qatar, Ooredoo, Milaha and Nakilat; even as Dlala and Qatar Electricity and Water were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR47.3mn compared with net sellers of QR11.43mn on Monday.
The Gulf individual investors’ net profit booking declined perceptibly to QR0.63mn against QR1.64mn the previous day.
However, local individual investors’ net selling increased considerably to QR29.72mn compared to QR14.35mn on October 15.
The Gulf institutions turned net sellers to the extent of QR9.81mn against net buyers of QR9.03mn on Monday.
Non-Qatari retail investors were also net sellers to the tune of QR6.32mn compared with net buyers of QR3.78mn the previous day.
Domestic institutions turned net profit takers to the extent of QR0.87mn against net buyers of QR14.63mn on October 15.
Total trade volume rose 18% to 8.88mn shares, value by 28% to QR241.06mn and transactions by 6% to 4,677.
The insurance sector’s trade volume soared 86% to 0.13mn equities, value by 82% to QR4.56mn and deals by 48% to 124.
The real estate sector reported 71% surge in trade volume to 4.13mn stocks, 73% in value to QR41.81mn and 33% in transactions to 1,128.
The transport sector’s trade volume shot up 54% to 0.6mn shares and value more than doubled to QR25.39mn but on 18% decline in deals to 305.
The banks and financial services sector saw 51% expansion in trade volume to 1.71mn equities, 19% in value to QR59.03mn and 54% in transactions to 1,399.
However, the telecom sector’s trade volume plummeted 50% to 1.11mn stocks, value by 51% to QR12.84mn and deals by 27% to 384.
There was 9% decline in the industrials sector’s trade volume to 0.97mn shares but on 43% jump in value to QR70.95mn despite 15% lower transactions at 996.
The consumer goods sector’s trade volume was down 4% to 0.22mn equities, value by 2% to QR26.48mn and deals by 29% to 341.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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