Strong buying in real estate and industrials on Thursday helped the Qatar Stock Exchange to snap three days of bearish spell as its key benchmark gained 23 points.
Foreign funds continued to be bullish but with lesser intensity as the 20-stock Qatar Index settled 0.22% higher at 10,456.14 points.
Gulf institutions turned marginally bullish and there was lower selling pressure from domestic funds in the market, which is up 22.68% year-to-date.
Market capitalisation expanded more than QR2bn, or 0.39%, to QR589.63bn, mainly owing to micro and midcap segments.
Islamic equities were seen gaining slower than the other indices in the market, where local retail investors were increasingly bearish.
Trade turnover and volumes were on the increase in the bourse, where the banks, realty and telecom sectors together accounted for about 74% of the total volume.
The Total Return Index gained 0.22% to 18,422.56 points, the All Share Index by 0.31% to 3,118.04 points and the Al Rayan Islamic Index (Price) by 0.09% to 2,421.37 points.
The realty index gained 0.78%, industrials (0.53%), banks and financial services (0.29%), insurance (0.07% and transport (0.03%); while telecom and consumer goods declined 0.63% and 0.13% respectively.
Major gainers included QNB, Gulf International Services, Qatar Islamic Insurance, Ezdan and Nakilat. But more than 56% of the stocks were in the red, including Qatar First Bank, Alijarah Holding, Qatari German Company for Medical Devices, Aamal Company, Mazaya Qatar, Vodafone Qatar and Ooredoo.
Gulf institutions turned net buyers to the tune of QR1.4mn compared with net sellers of QR12.35mn on December 12.
Domestic institutions’ net profit booking declined influentially to QR14.28mn against QR19.77mn the previous day.
However, local individual investors’ net selling grew considerably to QR6.33mn compared to QR0.69mn on Wednesday.
Gulf individual investors were net sellers to the extent of QR1.01mn against net buyers of QR0.66mn on December 12.
Non-Qatari funds’ net buying declined substantially to QR18.56mn compared to QR28.92mn the previous day.
Non-Qatari individuals’ net buying also eased perceptibly to QR1.71mn against QR3.22mn on Wednesday.
Total trade volume rose 51% to 6.72mn shares, value by 48% to QR225.29mn and transactions by less than 1% to 3,248.
The transport sector’s trade volume more than doubled to 0.46mn equities and value almost tripled to QR11.56mnm on a 54% increase in deals to 219.
The telecom sector’s trade volume more than doubled to 1.05mn stocks and value soared 78% to QR17.1mn but on a 25% fall in transactions to 306.
The insurance sector reported an 89% surge in trade volume to 0.17mn shares, 70% in value to QR5.61mn and 1% in deals to 117.
The banks and financial services sector’s trade volume shot up 63% to 2.84mn equities, value by 49% to QR114.97mn and transactions by 18% to 1,346.
There was a 54% expansion in the industrials sector’s trade volume to 0.97mn stocks, 78% in value to QR39.24mn and 12% in deals to 578.
However, the consumer goods sector’s trade volume plummeted 46% to 0.15mn shares, while value grew 1% to QR17.04mn despite 38% lower transactions at 149.
The market witnessed a 3% contraction in the real estate sector’s trade volume to 1.08mn equities but on 1% jump in value to QR19.77mn despite 21% lower deals at 533.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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