Foreign institutions’ increased buying support on Monday extended the bullish run on the Qatar Stock Exchange for the second consecutive day.
Consumer goods and real estate counters witnessed higher-than-average demand, which led the 20-stock Qatar Index to settle 0.24% higher at 10,034.24 points.
The Gulf institutions’ substantially increased buying interest also helped the market, whose sensitive index registered more than 2% erosion year-to-date.
Market capitalisation gained 0.16% or QR90mn to QR569.58bn mainly owing to mid and microcap segments.
Islamic equities were seen gaining faster than the main index on the market, where local retail investors were increasingly profit takers.
Trade turnover and volumes were on the increase on the bourse, where industrials, banking and real estate sectors together accounted for about 83% of the total volume.
The Total Return Index rose 0.24% to 17,764.13 points, All Share Index by 0.29% to 3,024.02 points and Al Rayan Islamic Index (Price) by 0.59% to 2,388.28 points.
The consumer goods index soared 2.27%, realty (1.75%), industrials (0.17%) and telecom (0.04%); while transport declined 1.22%, insurance (0.68%) and banks and financial services (0.12%).
More than 59% of the traded stocks extended gains with major movers being Qatari Investors Group, Gulf International Services, Salam International Investment, Qatari German Company for Medical Devices, Zad Holding, United Development Company, Ezdan and Woqod; even as Nakilat, Qatari General and Reinsurance, Doha Bank and Aamal Company were among the decliners.
Non-Qatari institutions’ net buying increased significantly to QR36.86mn compared to QR8.47mn on Sunday.
The Gulf institutions’ net buying also grew impressively to QR36mn against QR0.62mn the previous day.
However, local individuals’ net selling rose considerably to QR72.57mn compared to QR2.31mn on February 17.
Non-Qatari individual investors turned net sellers to the tune of QR2.67mn against net buyers of QR0.3mn on Sunday.
The Gulf individuals were also net profit takers to the extent of QR0.34mn compared with net buyers of QR0.3mn the previous day.
Domestic funds’ net buying weakened significantly to QR2.79mn against QR16.48mn on February 17.
Total trade volume rose 15% to 10.9mn shares, value by 33% to QR306.87mn and transactions by 11% to 6,231.
The transport sector’s trade volume more than tripled to 0.63mn equities and value almost tripled to QR12.15mn on 72% increase in deals to 205.
The banks and financial services sector saw 44% surge in trade volume to 2.57mn stocks, 74% in value to QR99.37mn and 33% in transactions to 1,215.
The consumer goods sector’s trade volume soared 41% to 0.62mn shares, value by 65% to QR63.42mn and deals by 42% to 525.
There was 6% increase in the real estate sector’s trade volume to 1.47mn equities, 20% in value to QR24.87mn and 23% in transactions to 1,083.
The industrials sector’s trade volume was up 1% to 4.97mn stocks, whereas value shrank 5% to QR92.04mn and deals by 13% to 2,641.
However, the telecom sector reported 12% decline in trade volume to 0.44mn shares but on 44% expansion in value to QR8.98mn and 98% in transactions to 366.
The insurance sector’s trade volume shrank 9% to 0.21mn equities and value by 20% to QR6.05mn, while deals shot up 62% to 196.
In the debt market, there was no trading of treasury bills and sovereign bonds.