Foreign institutions’ buying support on Tuesday lifted Qatar Stock Exchange more than 67 points to place its key barometer above 10,400 levels.
The telecom, banking, industrials and transport counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.65% higher at 10,434.65 points, although it touched a low of 10,360 points in the first 10 minutes of trading.
Local retail investors were increasingly profit takers in the market, whose key benchmark is up 1.32% year-to-date.
Market capitalisation saw more than QR4bn or 0.7% accretion to QR578.81bn mainly owing to mid and small cap segments.
Islamic equities were however seen gaining slower than the other indices in the market, where domestic funds’ buying substantially weakened.
Trade turnover and volumes were on the decline in the bourse, where industrials alone accounted for more than 60% of the total volume.
The Total Return Index rose 0.65% to 19,200.65 points, the All Share Index by 0.71% to 3,075.11 points and the Al Rayan Islamic Index (Price) by 0.42% to 2,352.57 points.
The telecom index gained 1.17%, banks and financial services (0.86%), industrials (0.68%), transport (0.66%), insurance (0.49%) and consumer goods (0.17%); while realty was down 0.13%.
More than 61% of the traded constituents extended gains with major movers being Commercial Bank, Qatar Islamic Bank, Ahlibank Qatar, Dlala, Medicare Group, Widam Food, Qatar Industrial Manufacturing, Qatari Investors Group, Industries Qatar, Aamal Company, Milaha, Ooredoo and Qatar Islamic Insurance; even as Al Khaliji, Qatar First Bank, Islamic Holding Group, Salam International Investor, Al Khaleej Takaful and Vodafone Qatar were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR20.52mn compared with net sellers of QR6.04mn on September 30.
Gulf institutions’ net profit booking declined influentially to QR0.8mn against QR8.74mn the previous day.
Non-Qatari individuals’ net selling weakened noticeably to QR0.44mn compared to QR1.25mn on Monday.
However, local retail investors’ net profit booking increased significantly to QR28.37mn against QR4.15mn on September 30.
Gulf individuals turned net sellers to the extent of QR0.29mn compared with net buyers of QR4.51mn the previous day.
Domestic institutions’ net buying declined considerably to QR9.38mn against QR15.67mn on Monday.
Total trade volume fell 32% to 125.85mn shares, value by 39% to QR243.75mn and transactions by 40% to 6,140.
The telecom sector’s trade volume plummeted 78% to 1.95mn equities, value by 68% to QR9.35mn and deals by 71% to 266.
The real estate sector saw a 70% plunge in trade volume to 15.24mn stocks, 70% in value to QR15.27mn and 63% in transactions to 561.
The transport sector’s trade volume tanked 44% to 1.63mn shares, value by 34% to QR6.46mn and deals by 48% to 142.
There was a 13% shrinkage in the industrials sector’s trade volume to 75.62mn equities, 29% in value to QR75.91mn and 33% in transactions to 2,978.
The insurance sector’s trade volume shrank 12% to 7.7mn stocks, value by 20% to QR16.7mn and deals by 33% to 293.
The consumer goods sector reported a 12% contraction in trade volume to 4.58mn shares, 22% in value to QR32.03mn and 6% in transactions to 656.
The banks and financial services sector’s trade volume was down 11% to 19.15mn equities, value by 38% to QR88.02mn and deals by 36% to 1,254.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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