The Qatar Stock Exchange on Wednesday gained more than 76 points to surpass 10,500 levels, mainly lifted by consumer goods, insurance and industrials equities.
Foreign funds turned bullish and their domestic counterparts continued to be net buyers with higher intensity as the 20-stock Qatar Index settled 0.73% higher at 10,535.13 points.
Non-Qatari individuals’ net profit booking was seen weakening on the market, which is up 2.29% year-to-date.
Market capitalisation expanded more than QR3bn or 0.52% to QR605.31bn mainly owing to large and midcap segments.
Islamic equities were seen gaining slower than the main index on the market, where local retail investors were increasingly bearish and Gulf institutions turned profit takers.
Trade turnover grew amidst lower volumes on the bourse, where industrials, real estate and banking sectors together accounted for more than 78% of the total volume.
The Total Return Index rose 0.73% to 18,561.74 points, All Share Index by 0.5% to 3,186.9 points and Al Rayan Islamic Index (Price) by 0.69% to 2,466.9 points.
The consumer goods index soared 1.93%, insurance (1.58%), industrials (0.71%), transport (0.68%) and banks and financial services (0.48%); whereas telecom and realty declined 0.67% and 0.24% respectively.
More than 60% of the traded constituents were in the positive trajectory with major gainers being Woqod, Qatar National Cement, Qatar Insurance, Qatar First Bank, Industries Qatar, Untied Development Company, Dlala, Qatar Islamic Bank and Milaha.
Nevertheless, Doha Bank, Ooredoo, Masraf Al Rayan, Qatari German Company for Medical Devices, Salam International Investment, Aamal Company, Ezdan and Gulf Warehousing were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR39.64mn against net sellers of QR0.87mn on January 8.
Domestic funds’ net buying increased influentially to QR14.48mn compared to QR8.7mn the previous day.
Non-Qatari individuals’ net profit booking weakened perceptibly to QR1.09mn against QR3.34mn on Tuesday.
However, local individuals’ net selling strengthened considerably to QR47.12mn compared to QR3.01mn on January 8.
The Gulf funds turned net sellers to the extent of QR5.71mn against net buyers of QR13.04mn the previous day.
The Gulf individuals were also net sellers to the tune of QR0.27mn compared with net buyers of QR1.33mn on Tuesday.
Total trade volume fell 18 to 14.59mn shares, while value grew 13% to QR339.98mn despite 10% higher transactions at 8,614.
The telecom sector’s trade volume plummeted 46% to 1.04mn equities and value by 22% to QR17.83mn, while deals rose 5% to 589.
The banks and financial services sector saw 35% plunge in trade volume to 3.22mn stocks but on less than 1% jump in value to QR104mn despite 3% lower transactions at 1,872.
The consumer goods sector’s trade volume tanked 25% to 0.94mn shares, while value more than doubled to QR41.05mn and deals increased 15% to 634.
The industrials sector reported 19% shrinkage in trade volume to 4.83mn equities and less than 1% in value to QR86.79mn but on 4% growth in transactions to 3,179.
However, the insurance sector’s trade volume more than doubled to 0.41mn stocks and value also more than doubled to QR14.42mn on more than doubled deals to 305.
The transport sector’s trade volume more than doubled to 0.8mn shares, value soared 73% to QR18.39mn and transactions by 56% to 614.
The real estate sector saw 7% jump in trade volume to 3.34mn equities, 13% in value to QR57.5mn and 16% in deals to 1,421.
In the debt market, there was no trading of treasury bills; even as a total of 80,150 sovereign bonds valued at QR793.21mn changed hands across four transactions.
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