The Qatar Stock Exchange on Thursday inched near 10,400 levels, having gained 35 points mainly on the back of strong buying in telecom segment.
Foreign funds were increasingly bullish and non-Qatari individuals as well as domestic and Gulf funds turned net buyers as the 20-stock Qatar Index settled 0.34% higher at 10,364.54 points.
Foreign institutions were increasingly net buyers in the market, which is up 21.6% year-to-date.
Market capitalisation expanded about QR3bn, or 0.46%, to QR588.4bn, mainly owing to large and microcap segments.
Islamic equities were however seen declining vis-a-vis gains in the other indices in the market, where domestic funds turned bullish and there was increased net profit booking by local retail investors.
Trade turnover and volumes were on the increase in the bourse, where the banking and realty sectors together accounted for about 92% of the total volume.
The Total Return Index gained 0.34% to 18,261.17 points and the All Share Index by 0.37% to 3,100.23 points, while the Al Rayan Islamic Index (Price) fell 0.17% to 2,394.11 points.
The telecom index shot up 2.6%, followed by transport (0.59%), banks and financial services (0.56%), consumer goods (0.51%) and industrials (0.01%); while realty and insurance declined 0.54% and 0.03% respectively.
More than 51% of the traded stocks extended gains with major movers being Ooredoo, Commercial Bank, Doha Bank, Salam International Investment, Gulf International Services and Industries Qatar; whereas Qatar First Bank, Alijarah Holding, Qatar National Cement, Qatar Electricity and Water and Barwa were among the losers.
Non-Qatari funds’ net buying increased significantly to QR68.21mn compared to QR50.93mn on November 28.
Domestic funds turned net buyers to the tune of QR34.11mn against net profit takers of QR16.71mn on Wednesday.
The Gulf individual investors’ net buying grew perceptibly to QR2.2mn compared to QR0.93mn the previous day.
Non-Qatari individuals turned net buyers to the extent of QR1.74mn against net sellers of QR1.68mn on November 28.
The Gulf institutions were also net buyers to the tune of QR1.28mn compared with net sellers of QR4.85mn on Wednesday.
However, local individuals’ net selling strengthened considerably to QR107.53mn against QR28.62mn on November 28.
Total trade volume more than quadrupled to 34.31mn shares and value also more than quadrupled to QR1.16bn on 60% increase in transactions to 11,185.
The banks and financial services sector’s trade volume grew almost seven-fold to 20.68mn equities and value by more than five-fold to QR660.48mn on almost deals to 5,828.
The real estate sector’s trade volume more than quadrupled to 10.81mn stocks and value rose almost five-fold to QR352.53mn on 14% rise in transactions to 2,798.
The transport sector’s trade volume more than tripled to 0.56mn shares and value grew more than five-fold to QR20.77mnm on more than doubled deals to 401.
The insurance sector’s trade volume more than doubled to 0.26mn equities and value almost tripled to QR9.55mn on almost doubled transactions to 221.
The consumer goods sector reported 58% surge in trade volume to 0.19mn stocks, 80% in value to QR17.49mn and 14% in deals to 275.
The industrials sector’s trade volume soared 38% to 0.91mn shares and value more than tripled to QR69.68mn on 39% increase in transactions to 972.
The telecom sector saw 27% expansion in trade volume to 0.89mn equities to more than double value to QR29.57mn on 89% growth in deals to 690.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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