The Qatar Stock Exchange on Tuesday continued to make marginal gains for the third straight session and its key benchmark crossed the 10,300 levels.
The insurance, real estate, banking and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.25% higher at 10,300.01 points.
Non-Qatari individuals were seen marginally bullish and there was weakened selling pressure from local retail investors in the market, whose key benchmark was up 0.01% year-to-date.
Market capitalisation saw more than QR2bn, or 0.41%, increase to QR567.2bn mainly owing to small and midcap segments.
Islamic equities were seen gaining slower than the main index in the market, where non-Qatari funds turned bearish and there was increased net profit booking by the Gulf individuals.
Trade turnover fell amidst higher volumes in the bourse, where the real estate and banking sectors together accounted for about 69% of the total volume.
The Total Return Index gained 0.25% to 18,952.9 points, the Al Rayan Islamic Index (Price) by 0.2% to 2,325.59 points and the All Share Index by 0.43% to 3,017.79 points.
The insurance index gained 1.29%, realty (0.93%), banks and financial services (0.76%), consumer goods (0.39%) and transport (0.17%); while telecom and industrials declined 1.21% and 0.35% respectively.
More than 52% of the traded constituents extended gains with major movers being Qatar Insurance, Ezdan, Mazaya Qatar, Al Khaleej Takaful, QNB, Qatar Islamic Bank, Ahlibank Qatar, QIIB and Doha Bank; even as Commercial Bank, Islamic Holding Group, Qatari German Company for Medical Devices, Aamal Company, Mesaieed Petrochemical Holding, Ooredoo and Vodafone Qatar were among the losers.
Non-Qatari individuals turned net buyers to the tune of QR0.21mn against net sellers of QR5.56mn on September 2.
Local retail investors’ net profit booking declined substantially to QR4.42mn compared to QR50.1mn on Monday.
However, non-Qatari funds turned net sellers to the extent of QR6.19mn against net buyers of QR23.74mn the previous day.
Gulf individuals’ net selling expanded considerably to QR5.55mn compared to QR0.11mn on September 2.
Domestic institutions’ net buying weakened noticeably to QR15.24mn against QR25.19mn on Monday.
Gulf institutions’ net buying also decreased perceptibly to QR0.7mn compared to QR6.84mn the previous day.
Total trade volume grew 15% to 78.95mn shares, while value was down 1% to QR211.56mn despite 4% higher transactions at 5,377.
The consumer goods sector’s trade volume soared 72% to 3.03mn equities, value by 40% to QR17.56mn and deals by 50% to 337.
The transport sector reported a 51% surge in trade volume to 6.37mn stocks, 24% in value to QR15.78mn and 14% in transactions to 236.
The real estate sector’s trade volume shot up 48% to 32.52mn shares, value by 46% to QR26.14mn and deals by 44% to 1,283.
The banks and financial services sector saw a 6% rise in trade volume to 21.63mn equities but on a 6% fall in value to QR112.2mn and 10% in transactions to 1,745.
However, the insurance sector’s trade volume plummeted 47% to 3.29mn stocks and value by 54% to QR8.35mn, whereas deals grew 20% to 348.
There was a 39% plunge in the telecom sector’s trade volume to 2.82mn shares, 14% in value to QR9.49mn and 41% in transactions to 303.
The industrials sector’s trade volume was down less than 1% to 9.31mn equities and value by 1% to QR23.04mn, while deals were up less than 1% to 1,125.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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