The Qatar Stock Exchange on Tuesday gained more than 91 points to inch near 10,800 levels, mainly on the back of strong buying interests in industrials and consumer goods equities.
Foreign institutions’ increased buying interests catapulted the 20-stock Qatar Index to a near two-year high of 10,762.99 points as about 64% of the traded constituents extended gains.
The weakened selling pressure from domestic and Gulf funds also had their role on the market, whose sensitive index settled 4.51% higher year-to-date.
Market capitalisation grew more than QR5bn or 0.83% to QR615.84bn mainly owing to large and small cap segments.
Islamic equities were seen gaining faster than the other indices in the market, where local and non-Qatari retail investors were increasingly profit takers.
Trade turnover and volumes were on the increase on the bourse, where industrials, banking and realty sectors together accounted for more than three-fourth of the total volume.
The Total Return Index gained 0.86% to 18,963.19 points, Al Rayan Islamic Index (Price) by 1.16% to 2,524.48 points and All Share Index by 0.7% to 3,230.88 points.
The industrials index soared 2.15%, consumer goods (1.56%), banks and financial services (0.61%), telecom (0.48%) and transport (0.31%); whereas real estate and insurance declined 0.83% and 0.24% respectively.
Major gainers included Industries Qatar, Aamal Company, Qatar Electricity and Water, QNB, United Development Company, Zad Holding, Widam Food, Qatar National Cement, Vodafone Qatar and Ooredoo; even as Qatar Oman Investment, Qatari German Company for Medical Devices and Ezdan were among the losers.
Non-Qatari institutions’ net buying increased considerably to QR93.15mn compared to QR62.58mn on January 14.
Domestic institutions’ net profit booking declined influentially to QR0.03mn against QR7.55mn the previous day.
The Gulf institutions’ net selling also weakened perceptibly to QR5.09mn compared to QR6.04mn on Monday.
However, local individuals’ net selling strengthened significantly to QR85.11mn against QR46.79mn on January 14.
Non-Qatari individuals’ net profit booking grew noticeably to QR2.44mn compared to QR1.82mn the previous day.
The Gulf individual investors’ net selling expanded marginally to QR0.44mn against QR0.39mn on Monday.
Total trade volume rose 30% to 9.89mn shares and value by 7% to QR294.21mn, while transactions fell 14% to 6,430.
The telecom sector’s trade volume more than doubled to 0.89mn equities and value soared 70% to QR16.58mn on 22% jump in deals to 461.
The consumer goods sector’s trade volume more than doubled to 0.88mn stocks and value grew 34% to QR36.8mn on 32% growth in transactions to 628.
The industrials sector saw 53% surge in trade volume to 4.09mn shares, 10% in value to QR89.09mn and 20% in deals to 3,180.
The insurance sector’s trade volume shot up 35% to 0.31mn equities and value by 64% to QR11.59mn, whereas transactions declined 23% to 200.
There was 30% expansion in the transport sector’s trade volume to 0.39mn stocks and 40% in value to QR10.64mn but on 31% decline in deals to 236.
The banks and financial services sector’s trade volume was up 7% to 1.89mn shares, while value was down 6% to QR101.61mn and transactions by 58% to 825.
However, the real estate sector reported 20% shrinkage in trade volume to 1.45mn equities, 20% in value to QR27.91mn and 37% in deals to 900.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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