Strong buying interests from foreign and Gulf institutions on Monday helped the Qatar Stock Exchange break the 10,400 resistance levels.
Consumer goods and banking counters witnessed higher-than-average demand, leading to a 0.24% jump in the 20-stock Qatar Index for the third straight session to 10,415 points, which is up 22.19% year-to-date.
Market capitalisation grew more than QR2bn or 0.35% to QR583.78bn, mainly on account of small and large cap equities.
However, local retail investors were increasingly net sellers and domestic funds turned bearish on the market, where Islamic stocks were seen gaining slower than the other indices.
Trade turnover and volumes were on the increase on the bourse, where real estate and banking sectors together accounted for about 51% of the total volume.
The Total Return Index gained 0.24% to 18,350.08 points, All Share Index by 0.21% to 3,067.53 points and Al Rayan Islamic Index (Price) by 0.12% to 2,432.13 points.
The consumer goods index soared 1.31%, banks and financial services (0.75%) and industrials (0.02%); while telecom shrank 1.32%, realty (1.06%), insurance (0.41%) and transport (0.07%).
Major movers included Woqod, QNB, Qatar National Cement, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Islamic Insurance and Nakilat; even as Commercial Bank, Ezdan, Ooredoo, Milaha, Vodafone Qatar, Doha Bank and Salam International Investments were among the losers.
Non-Qatari funds’ net buying increased significantly to QR44.25mn compared to QR13.32mn the previous day.
The Gulf institutions turned net buyers to the tune of QR4.19mn against net sellers of QR3.41mn on November 11.
The Gulf individuals were also net buyers to the extent of QR0.39mn compared with net sellers of QR1.79mn on Sunday.
However, local individuals’ net selling grew considerably to QR43.49mn against QR14.98mn the previous day.
Domestic funds turned net sellers to the tune of QR4.54mn compared with net buyers of QR3.1mn on November 11.
Non-Qatari individuals were also net profit takers to the extent of QR0.37mn against net buyers of QR3.63mn on Sunday.
Total trade volume grew 53% to 4.42mn shares and value more than doubled to QR217.13mn on 83% increase in transactions to 3,914.
The industrials sector’s trade volume more than quadrupled to 0.79mn equities and value rose more than five-fold to QR44.27mn on more than doubled deals to 783.
The transport sector’s trade volume almost doubled to 0.54mn stocks and value more than doubled to QR13.74mn on 10% jump in transactions to 219.
The banks and financial services sector’s trade volume soared 43% to 1.09mn shares and value almost tripled to QR64.24mn on almost doubled deals to 1,014.
There was 41% surge in the real estate sector’s trade volume to 0.16mn equities and 45% in value to QR29.2mn on more than doubled transactions to 688.
The consumer goods sector’s trade volume shot up 34% to 0.39mn stocks, value by 443% to QR59.46mn and deals by 87% to 1,009.
The telecom sector reported 13% expansion in trade volume to 0.34mn shares but on 2% decline in value to QR4.09mn and 20% in transactions to 139.
However, the insurance sector’s trade volume plummeted 56% to 0.11mn equities, value by 68% to QR2.13mn and deals by 32% to 62.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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