Increased buying interests from foreign institutions and bullish outlook of non-Qatari individuals on Monday led the Qatar Stock Exchange gain 35 points in its key index but failed to break the 10,400 levels.
Banks, realty and consumer goods counters witnessed stronger demand, resulting in the 20-stock Qatar Index settle 0.34% higher at 10,367.54 points.
There were also increased net buying support from domestic funds and Gulf individuals in the market, which is up 21.64% year-to-date.
Market capitalisation gained more than QR2bn or 0.42% to QR592.11bn mainly owing to gains within micro and midcap segments.
Islamic equities were seen gaining faster than the other indices in the market, where local retail investors and Gulf funds were increasingly bearish.
Trade turnover grew amidst lower volumes in the bourse, where industrials and banking sectors together accounted for about 80% of the total volume.
The Total Return Index rose 0.34% to 18,266.45 points, Al Rayan Islamic Index (Price) by 0.48% to 2,407.52 points and All Share Index by 0.44% to 3,090.43 points.
The banks and financial services index added 0.84%, real estate (0.57%), consumer goods (0.41%) and industrials (0.17%); whereas insurance declined 1.32%, telecom (0.38%) and transport (0.23%).
About 55% of the traded stocks extended gains with major gainers being QNB, Doha bank, Masraf Al Rayan, Qatar Oman Investment, Al Khaleej Takaful, United Development Company, Vodafone Qatar and QIIB; even as Commercial Bank, Qatar First Bank, Qatari German Company for Medical Devices, Qatari Investors Group, Qatar Insurance and Mazaya Qatar were among the losers.
Non-Qatari funds’ net buying increased considerably to QR59.68mn compared to QR31.62mn on December 23.
Non-Qatari individuals turned net buyers to the tune of QR7.55mn against net sellers of QR3.29mn on Sunday.
Domestic institutions’ net buying increased marginally to QR4.75mn compared to QR4.61mn the previous day.
The Gulf individual investors’ net buying grew perceptibly to QR2.34mn against QR0.66mn on December 23.
However, local individuals’ net selling expanded significantly to QR46.05mn compared to QR23.03mn on Sunday.
The Gulf funds’ net profit booking strengthened substantially to QR26.34mn against QR10.58mn the previous day.
Total trade volume fell 15% to 11.8mn shares, while value rose 6% to QR233.76mn despite 9% higher transactions at 8,127.
The consumer goods sector’s trade volume plummeted 59% to 0.12mn equities, value by 27% to QR7.69mn and 41% in deals to 164.
The banks and financial services sector saw 38% plunge in trade volume to 1.3mn stocks but on 25% growth in value to QR56.44mn despite 1% lower transactions at 772.
The industrials sector’s trade volume tanked 19% to 8.09mn shares and value by 15% to QR125.44mn; while deals were up 5% to 5,930.
There was 7% shrinkage in the real estate sector’s trade volume to 1.04mn equities but on 55% increase in value to QR16.68mn and 10% in transactions to 495.
However, the insurance sector’s trade volume grew exponentially to 0.48mn stocks and value also rose influentially to QR13.35mn on 30-fold jump in deals to 270.
The transport sector’s trade volume more than doubled to 0.42mn shares and value also more than doubled to QR8.63mn on more than doubled transactions to 326.
The telecom sector reported 52% surge in trade volume to 0.35mn equities to more than double value to QR5.55mn on 38% expansion in deals to 170.
In the debt market, there was no trading of treasury bills and sovereign bonds.