Snapping five days of bearish spell, the Qatar Stock Exchange on Tuesday gained 22 points to inch near the 9,800 level mainly on increased buying support from domestic institutions.
The transport, consumer goods, telecom, insurance and industrials counters witnessed higher demand as the 20-stock Qatar Index settled 0.22% higher at 9,765.88 points.
Non-Qatari retail investors’ weakened net selling also played its role in the market, whose sensitive index is down 5.18% year-to-date.
Market capitalisation gained more than QR1bn, or 0.24%, to QR553.67bn mainly owing to small and microcap segments.
Islamic equities were seen gaining slower than the main index in the market, where local retail investors were increasingly profit takers.
Trade turnover and volumes were on the increase in the bourse, where the industrials and realty sectors together accounted for more than 62% of the total volume.
The Total Return Index rose 0.22% to 17,711.47 points, the Al Rayan Islamic Index (Price) by 0.01% to 2,305.4 points and the All Share Index by 0.05% to 2,977.86 points.
The transport index soared 1.39%, consumer goods (1.37%), telecom (0.84%), insurance (0.74%) and industrials (0.48%); while real estate declined 1.96% and banks and financial services (0.01%).
About 57% of the traded constituents extended gains with prime movers being Milaha, Nakilat, Ooredoo, Commercial Bank, Al Khaliji, Islamic Holding Group, Ahlibank and Salam International Investments; even as QIIB, Masraf Al Rayan, Qatar Industrial Manufacturing, Gulf International Services and Ezdan were among the losers.
Domestic institutions’ net buying increased substantially to QR63.69mn compared to QR3.63mn on March 11.
Non-Qatari individuals’ net profit booking declined marginally to QR1.14mn against QR2.73mn the previous day.
However, local retail investors’ net selling grew considerably to QR59.32mn compared to QR24.22mn on Monday.
Gulf institutional investors’ net profit booking increased noticeably to QR2.22mn against QR1.29mn on March 11.
Gulf individuals turned net sellers to the extent of QR2.06mn compared with net buyers of QR1.15mn the previous day.
Non-Qatari institutions’ net buying weakened significantly to QR1.01mn against QR23.46mn on Monday.
Total trade volume grew 5% to 10.72mn shares, value by 34% to QR326.3mn and transactions by 27% to 6,403.
The insurance sector’s trade volume grew almost five-fold to 0.87mn equities and value by more than five-fold QR29.63mn on almost-tripled deals to 619.
The transport sector’s trade volume almost tripled to 0.68mn stocks and value more than tripled to QR16.63mn on a 190% jump in transactions to 239.
The consumer goods sector’s trade volume more than doubled to 0.57mn shares and value more than tripled to QR93.05mn on a 28% increase in deals to 501.
The telecom sector saw a 38% surge in trade volume to 0.54mn equities and 64% in value to QR20.5mn but on flat transactions at 300.
The real estate sector’s trade volume expanded 31% to 3.05mn stocks, value by 58% to QR57.46mn and deals by 53% to 1,633.
However, the banks and financial services sector reported a 33% plunge in trade volume to 1.39mn shares and 33% in value to QR42.61mn but on a 5% growth in transactions to 976.
The industrials sector’s trade volume tanked 24% to 3.62mn equities and value by 30% to QR66.41mn, whereas deals shot up 11% to 2,135.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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