Foreign institutions’ robust buying interests on Wednesday lifted the Qatar Stock Exchange by another 57 points as its benchmark neared the 9,800 level.
The telecom, industrials and real estate counters witnessed higher than average demand as the 20-stock Qatar Index gained 0.59% to 9,757.63 points.
The Gulf individuals were seen marginally bullish in the market, whose sensitive index is however down 5.26% year-to-date.
Market capitalisation expanded more than QR4bn, or 0.76%, to QR540.76bn mainly owing to mid and microcap segments.
Islamic equities were seen gaining on par with the main index in the market, where local and non-Qatari individuals turned net profit takers.
Trade turnover and volumes were on the decline in the bourse, where the industrials, realty and banking sectors together accounted for more than 85% of the total volume.
The Total Return Index grew 0.59% to 17,954.86 points, the Al Rayan Islamic Index (Price) by 0.59% to 2,263.41 points and the All Share Index by 0.66% to 2,908.47 points.
The telecom index gained 1.85%, industrials (1.47%), real estate (1.01%), banks and financial services (0.35%), insurance (0.32%) and consumer goods (0.2%); while transport declined 0.42%.
More than 64% of the traded constituents extended gains with major movers being Ooredoo, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Ezdan, Mazaya Qatar, Gulf Warehousing, Qatari German Company for Medical Devices and Commercial Bank; even as Qatar Oman Investment, Nakilat, Dlala and QIIB were among the losers.
Non-Qatari institutions’ net buying increased significantly to QR60.35mn compared to QR13.93mn on Tuesday.
The Gulf individuals turned net buyers to the tune of QR0.8mn against net sellers of QR1.09mn the previous day.
However, local retail investors turned net sellers to the extent of QR24.35mn compared with net buyers of QR5.23mn on May 21.
Domestic institutions’ net profit booking increased influentially to QR27.54mn against QR24.43mn on Tuesday.
Non-Qatari individuals were net sellers to the tune of QR9.5mn compared with net buyers of QR3.85mn the previous day.
The Gulf institutional investors’ net buying weakened significantly to QR0.21mn against QR2.57mn on Tuesday.
Total trade volume fell 22% to 15.9mn shares and value by 27% to QR346.85mn, while transactions were up less than 1% to 10,848.
The insurance sector’s trade volume plummeted 65% to 0.12mn equities, value by 64% to QR3.31mn and deals by 14% to 147.
The realty sector reported a 32% plunge in trade volume to 3.2mn stocks and 25% in value to QR32.77mn but on a 35% growth in transactions to 4,485.
The industrials sector’s trade volume tanked 27% to 7.71mn shares, value by 27% to QR183.8mn and deals by 23% to 3,640.
There was a 21% shrinkage in the telecom sector’s trade volume to 0.37mn equities, 18% in value to QR4.95mn and 14% in transactions to 294.
The consumer goods sector’s trade volume declined 19% to 1.37mn stocks, value by 19% to QR55.12mn and deals by 23% to 557.
The transport sector saw a 16% contraction in trade volume to 0.48mn shares, 26% in value to QR10.43mn and 19% in transactions to 263.
However, the banks and financial services sector’s trade volume shot up 23% to 2.65mn equities, while value shrank 31% to QR56.47mn despite 20% higher deals at 1,462.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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