The Qatar Stock Exchange on Thursday gained 86 points for the second straight session to inch near 10,400 levels, mainly lifted by insurance, consumer goods and banking equities.
Foreign institutions’ sustained buying interests and the Gulf funds’ bullish outlook helped the 20-stock Qatar Index settled 0.84% higher at 10,363.2 points.
The Gulf individuals were seen marginally bullish and there was lower selling pressure from non-Qatari individuals on the market, whose key benchmark is down 0.62% year-to-date.
Market capitalisation saw about QR6bn or 1.01% increase to QR572.36bn mainly owing to large and midcap segments.
Islamic equities were seen gaining slower than the other indices on the market, where local retail investors turned bearish and there was increased net profit booking by domestic funds.
Trade turnover and volumes were on the increase on the bourse, where banking, real estate and industrials sectors together accounted for about 78% of the total volume.
The Total Return Index rose 0.84% to 19,069.17 points, All Share Index by 0.95% to 3,055.68 points and Al Rayan Islamic Index (Price) by 0.7% to 2,323.44 points.
The insurance index soared 1.77%, consumer goods (1.21%), bank and financial services (1.14%), industrials (0.61%), telecom (0.6%) and realty (0.5%); while transport declined 0.38%.
About 55% of the traded constituents extended gains with major movers being Qatar Insurance, QNB, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Mazaya Qatar, Ezdan, Vodafone Qatar and Gulf Warehousing; even as Doha Bank, Medicare Group, Qatari German Company for Medical Devices, Qatar National Cement, Gulf International Services and Milaha were among the losers.
Non-Qatari institutions’ net buying increased substantially to QR56.95mn compared to QR20.89mn on November 13.
The Gulf institutions turned net buyers to the tune of QR6.33mn against net sellers of QR11.29mn the previous day.
The Gulf individuals were also net buyers to the extent of QR1.64mn compared with net sellers of QR0.59mn on Wednesday.
Non-Qatari individuals’ net profit booking declined perceptibly to QR2.25mn against QR3.85mn on November 13.
However, domestic funds’ net selling strengthened considerably to QR34.4mn compared to QR13.08mn the previous day.
Local retail investors turned net sellers to the tune of QR28.29mn against net buyers of QR7.97mn on Wednesday.
Total trade volume rose 3% to 65.54mn shares, value by 20% to QR244.33mn and transactions by 1% to 6,108.
The insurance’s sector’s trade volume more than doubled to 1.92mn equities and value almost tripled to QR6.25mn on 87% increase in deals to 228.
The transport sector reported 57% surge in trade volume to 4.22mn stocks, 59% in value to QR13.71mn and 51% in transactions to 588.
The real estate sector’s trade volume soared 14% to 12.32mn shares, value by 30% to QR13.13mn and deals by 28% to 577.
The banks and financial services sector saw 8% jump in trade volume to 27.24mn equities and 23% in value to QR157.72mn but on 13% fall in transactions to 2,492.
However, the industrials’ sector’s trade volume plummeted 23% to 11.26mn stocks, while value grew 4% to QR25.13mn and deals by less than 1% to 1,055.
There was 16% shrinkage in the telecom sector’s trade volume to 2.75mn shares but on 48% growth in value to QR10.18mn and 57% in transactions to 553.
The consumer goods sector’s trade volume was down 9% to 5.82mn equities, value by 19% to QR18.21mn and deals by 24% to 615.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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