The Qatar Stock Exchange on Tuesday ended seven days of bearish run to gain 59 points, mainly on the back of strong buying especially within consumer goods and transport counters.
Non-Qatari individuals turned bullish and there was substantially lower selling pressure from non-Qatari funds as the 20-stock Qatar Index gained 0.6% to 9,798.74 points.
However, local retail investors turned bearish and there was lower buying interests of domestic institutions in the market, whose sensitive index is down 4.86% year-to-date.
Market capitalisation gained more than QR1bn, or 0.2%, to QR543.22bn mainly owing to micro and small cap segments.
Islamic equities were seen gaining faster than the main index in the market, where Gulf individuals and funds continued to be bullish but with lesser vigour.
Trade turnover and volumes were on the increase in the bourse, where the industrials and real estate sectors together accounted for about 74% of the total volume.
The Total Return Index rose 0.6% to 18,030.5 points and the Al Rayan Islamic Index (Price) by 1.19% to 2,255.34 points, while the All Share Index was down 0.08% to 2,927.39 points.
The consumer goods index surged 2.49%, transport (2.17%), industrials (0.73%) and banks and financial services (0.09%); whereas real estate declined 4.43%, telecom (1.05%) and insurance (0.16%).
More than 53% of the traded constituents extended gains with major movers being Woqod, Mesaieed Petrochemical Holding, United Development Company, Mazaya Qatar, Gulf Warehousing, Nakilat, Vodafone Qatar, Medicare Group and Qatar First Bank; even as Industries Qatar, Ezdan, Ooredoo and Alijarah Holding were among the losers.
Non-Qatari individuals turned net buyers to the tune of QR3.83mn against net profit takers of QR2.3mn on Monday.
Non-Qatari institutions’ net selling declined substantially to QR22.19mn compared to QR77.44mn the previous day.
However, local retail investors turned net sellers to the extent of QR11.06mn against net buyers of QR28.92mn on May 14.
Domestic institutions’ net buying weakened significantly to QR28.6mn compared to QR43.53mn on Monday.
The Gulf institutions’ net buying also declined perceptibly to QR0.69mn against QR5mn the previous day.
The Gulf individuals’ net buying decreased noticeably to QR0.06mn compared to QR2.27mn on May 14.
Total trade volume grew 52% to 23.89mn shares, value by 91% to QR628.6mn and transactions by 59% to 13,310.
The realty sector’s trade volume almost tripled to 7.87mn equities and value more than doubled to QR81.64mn on more-than-doubled deals to 3,710.
The industrials sector’s trade volume more than doubled to 9.72mn stocks and value also more than doubled to QR200.56mn on more-than-doubled transactions to 4,407.
The consumer goods sector’s trade volume almost doubled to 0.86mn shares and value more than quadrupled to QR143.26mn on more-than-doubled deals to 1,161.
The insurance sector’s trade volume was up 4% to 0.26mn equities, value by 9% to QR7.87mn and transactions by 28% to 303.
However, the banks and financial services sector saw a 44% plunge in trade volume to 3.48mn stocks but on a 21% growth in value to QR165.2mn despite 3% lower deals at 2,708.
The telecom sector’s trade volume plummeted 24% to 1.08mn shares, value by 31% to QR12.96mn and transactions by 21% to 574.
There was a 17% shrinkage in the transport sector’s trade volume to 0.63mn equities and 31% in value to QR17.11mn but on a 20% jump in deals to 447.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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