The Qatar Stock Exchange (QSE) remained marginally bullish for the second straight session on Monday despite strong selling pressure from local retail investors.
Insurance and real estate counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.2% higher at 10,274.15 points.
Both domestic and foreign institutions were increasingly net buyers in the market, whose key benchmark closed 0.24% lower year-to-date.
Nevertheless, market capitalisation saw QR0.44mn or 0.08% decline to QR564.86bn mainly owing to micro and small cap segments.
Islamic equities were seen gaining faster than the other indices in the market, where non-Qatari individuals turned bearish and there was lower buying support from the Gulf funds.
Trade turnover and volumes were on the increase in the bourse, where real estate and banking sectors together accounted for about 62% of the total volume.
The Total Return Index gained 0.2% to 18,905.31 points, Al Rayan Islamic Index (Price) by 0.39% to 2,320.58 points and All Share Index by 0.01 to 3,004.27 points.
The insurance index gained 1.15%, realty (0.39%), transport (0.13%) and banks and financial services (0.03%); while industrials declined 0.38%, telecom (0.12%) and consumer goods (0.1%).
Major gainers included Qatar Insurance, Al Khaleej Takaful, Doha Bank, Ahlibank Qatar, QIIB, Salam International Investment, Gulf International Services, United Development Company, Barwa and Vodafone Qatar; whereas Qatar First Bank, Alijarah Holding, Qatari Investors Group, Industries Qatar, Mazaya Qatar, Ezdan, Ooredoo, QNB and Qatar Islamic Bank were among the losers.
Domestic funds’ net buying increased significantly to QR25.19mn compared to QR1.59mn on September 1.
Non-Qatari institutions’ net buying grew considerably to QR23.74mn against QR8.59mn the previous day.
However, local retail investors’ net profit booking expanded substantially to QR50.1mn compared to QR22.51mn on Sunday.
Non-Qatari individuals turned net sellers to the tune of QR5.56mn against net buyers of QR2.74mn on September 1.
The Gulf individuals were also net sellers to the extent of QR0.11mn compared with net buyers of QR1.13mn the previous day.
The Gulf institutions’ net buying weakened perceptibly to QR6.84mn against QR8.45mn on Sunday.
Total trade volume grew 11% to 68.46mn shares, value by 37% to QR215.65mn and transactions by 4% to 5,180.
The insurance sector’s trade volume more than doubled to 6.19mn equities and value also more than doubled to QR18.12mn on 52% increase in deals to 291.
The telecom sector’s trade volume more than doubled to 4.62mn stocks and value more than doubled to QR11.04mn on more than doubled transactions to 514.
The transport sector reported 62% surge in trade volume to 4.21mn shares, 83% in value to QR12.71mn and 18% in deals to 207.
The banks and financial services sector’s trade volume soared 32% to 20.41mn equities, value by 58% to QR119.97mn and transactions by 27% to 1,931.
However, there was 17% plunge in the industrials sector’s trade volume to 9.35mn stocks, 19% in value to QR23.39mn and 18% in deals to 1,122.
The consumer goods sector’s trade volume tanked 15% to 1.76mn shares, while value was up 9% to QR12.56mn despite 19% lower transactions at 225.
The real estate sector saw 14% shrinkage in trade volume to 21.91mn equities, 18% in value to QR17.86mn and 26% in deals to 890.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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