Robust demand, particularly within the banking and industrials counters, on Sunday helped the Qatar Stock Exchange gain 50 points to surpass 10,300 levels.
The increased buying interests of foreign and Gulf funds as well as non-Qatari individuals led the 20-stock Qatar Index add 0.49% to 10,331.14 points, which is up 21.21% year-to-date.
Market capitalisation expanded about QR2bn or 0.34% to QR580.5bn, mainly on account of large cap equities.
However, domestic funds turned bearish and there was increased net selling by local retail investors on the market, where Islamic stocks were seen gaining slower than the other indices.
Trade turnover grew amidst lower volumes on the bourse, where banking and realty sectors together accounted for more than 50% of the total volume.
The Total Return Index gained 0.49% to 18,202.31 points, All Share Index by 0.29% to 3,043.5 points and Al Rayan Islamic Index (Price) by 0.33% to 2,407.63 points.
The banks and financial services index rose 0.78% and industrials 0.54%; while transport declined 0.95%, insurance (0.53%), realty (0.54%), consumer goods (0.46%) and telecom (0.05%).
Major gainers included Industries Qatar, Qatar Islamic Bank, Commercial Bank, QIIB, Untied Development Company and Ooredoo; whereas about 70% of the traded stocks were in the red with major losers being Ahlibank, Dlala, Qatari German Company for Medical Devices, Mannai Corporation, Milaha, Nakilat, Ezdan and Mazaya Qatar.
Non-Qatari funds’ net buying increased significantly to QR28.96mn compared to QR17.21mn on November 1.
Non-Qatari individuals’ net buying rose perceptibly to QR5.64mn against QR4.19mn the previous trading day.
The Gulf institutions’ net buying also expanded influentially to QR5.2mn compared to QR1.17mn last Thursday.
However, local individuals’ net profit booking grew significantly to QR33.7mn against QR27.11mn on November 1.
Domestic funds turned net sellers to the tune of QR6.24mn compared with net buyers of QR3.94mn the previous trading day.
The Gulf individual investors’ net buying weakened marginally to QR0.15mn against QR0.6mn last Thursday.
Total trade volume fell 13% to 3.53mn shares, while value rose 3% to QR140.23mn despite 26% lower transactions at 2,306.
The transport sector’s trade volume plummeted 36% to 0.32mn equities, value by 18% to QR9.72mn and deals by 54% to 274.
The banks and financial services sector saw 26% plunge in trade volume to 1.07mn stocks, 21% in value to QR48.5mn and 24% in transactions to 778.
The real estate sector’s trade volume tanked 26% to 0.71mn shares, value by 59% to QR12.81mn and transactions by 46% to 251.
There was 2% fall in the industrials sector’s trade volume to 0.49mn equities but on 21% increase in value to QR21.21mn despite 19% lower deals at 490.
However, the insurance sector’s trade volume soared 67% to 0.05mn stocks, value by 77% to QR1.36mn and transactions by 23% at 48.
The consumer goods sector reported 57% surge in trade volume to 0.44mn shares to see about six-fold jump in value to QR37.28mn on 5% rise in deals to 184.
The telecom sector’s trade volume expanded 39% to 0.46mn equities, value by 54% to QR9.36mn and transactions by 24% to 281.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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