The Qatar Stock Exchange opened 2020 on a stronger note Thursday as its key benchmark surpassed the 10,500 resistance levels with an ease, primarily lifted by foreign institutions.
Telecom and banking counters witnessed higher-than-average demand as the 20-stock Qatar Index settled 0.83% higher at 10,511.7 points, amidst lower trading volumes.
Domestic funds were bullish, albeit marginally, on the market, whose capitalisation saw about QR3bn or 0.45% increase to QR585.37bn mainly owing to small and midcap segments.
Islamic stocks were seen gaining slower than the other indices on the market, where local and non-Qatari retail investors turned bearish.
Trade turnover and volumes were on the decline on the bourse, where banking and industrials sectors together accounted for more than 66% of the total volume.
The Total Return Index grew 0.83% to 19,342.42 points, All Share Index by 0.63% to 3,118.76 points and Al Rayan Islamic Index (Price) by 0.31% to 2,327.61 points.
The telecom index soared 1.41%, banks and financial services (0.92%), transport (0.62%), insurance (0.53%) and consumer goods (0.49%); whereas industrials and real estate declined 0.1% and 0.09% respectively.
More than 52% of the stocks extended gains to investors with major movers being Ooredoo, Commercial Bank, Doha Bank, Masraf Al Rayan, Islamic Holding Group, Industries Qatar, Aamal Company, Gulf International Services, Nakilat and Qatar General Insurance and Reinsurance; even as Alijarah Holding, Dlala, Qatari German Company for Medical Devices, Qatar National Cement, Mesaieed Petrochemical Holding and Al Khaleej Takaful were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR33.6mn compared with net sellers of QR15.4mn on December 31.
Domestic funds were also net buyers to the extent of QR1.68mn against net sellers of QR1.36mn the previous day.
The Gulf individual investors turned net buyers to the tune of QR0.01mn compared with net sellers of QR1.36mn on Tuesday.
However, local retail investors were net sellers to the extent of QR29.48mn against net buyers of QR15.53mn on December 31.
Non-Qatari individuals also turned net sellers to the tune of QR4.07mn compared with net buyers of QR2.96mn the previous day.
The Gulf institutions were also net profit takers to the extent of QR1.76mn against net buyers of QR9.97mn on Tuesday.
Total trade volumes fell 66% to 48.22mn shares, value by 82% to QR121.91mn and transactions by 51% to 2,630.
The transport sector’s trade volume plummeted 90% to 1.02mn equities, value by 91% to QR2.75mn and deals by 85% to 64.
There was 88% plunge in the telecom sector’s trade volume to 0.82mn stocks, 92% in value to QR2.95mn and 68% in transactions to 122.
The real estate sector’s trade volume tanked 84% to 5.73mn shares, value by 89% to QR6.3mn and deals by 60% to 207.
The insurance sector reported 83% shrinkage in trade volume to 2.36mn equities, 87% in value to QR5.01mn and 44% in transactions to 140.
The banks and financial services sector’s trade volume declined 61% to 17.67mn stocks, value by 77% to QR74.13mn and deals by 43% to 948.
The industrials sector saw 32% contraction in trade volume to 14.26mn shares, 81% in value to QR22.38mn and 31% in transactions to 691.
The consumer goods sector’s trade volume declined 18% to 6.35mn equities, value by 87% to QR8.39mn and deals by 60% to 458.
In the debt market, there was no trading of treasury bills and sovereign bonds.
Domestic funds were bullish, albeit marginally, on the market, whose capitalisation saw about QR3bn or 0.45% increase to QR585.37bn mainly owing to small and midcap segments.
Islamic stocks were seen gaining slower than the other indices on the market, where local and non-Qatari retail investors turned bearish.
Trade turnover and volumes were on the decline on the bourse, where banking and industrials sectors together accounted for more than 66% of the total volume.
The Total Return Index grew 0.83% to 19,342.42 points, All Share Index by 0.63% to 3,118.76 points and Al Rayan Islamic Index (Price) by 0.31% to 2,327.61 points.
The telecom index soared 1.41%, banks and financial services (0.92%), transport (0.62%), insurance (0.53%) and consumer goods (0.49%); whereas industrials and real estate declined 0.1% and 0.09% respectively.
More than 52% of the stocks extended gains to investors with major movers being Ooredoo, Commercial Bank, Doha Bank, Masraf Al Rayan, Islamic Holding Group, Industries Qatar, Aamal Company, Gulf International Services, Nakilat and Qatar General Insurance and Reinsurance; even as Alijarah Holding, Dlala, Qatari German Company for Medical Devices, Qatar National Cement, Mesaieed Petrochemical Holding and Al Khaleej Takaful were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR33.6mn compared with net sellers of QR15.4mn on December 31.
Domestic funds were also net buyers to the extent of QR1.68mn against net sellers of QR1.36mn the previous day.
The Gulf individual investors turned net buyers to the tune of QR0.01mn compared with net sellers of QR1.36mn on Tuesday.
However, local retail investors were net sellers to the extent of QR29.48mn against net buyers of QR15.53mn on December 31.
Non-Qatari individuals also turned net sellers to the tune of QR4.07mn compared with net buyers of QR2.96mn the previous day.
The Gulf institutions were also net profit takers to the extent of QR1.76mn against net buyers of QR9.97mn on Tuesday.
Total trade volumes fell 66% to 48.22mn shares, value by 82% to QR121.91mn and transactions by 51% to 2,630.
The transport sector’s trade volume plummeted 90% to 1.02mn equities, value by 91% to QR2.75mn and deals by 85% to 64.
There was 88% plunge in the telecom sector’s trade volume to 0.82mn stocks, 92% in value to QR2.95mn and 68% in transactions to 122.
The real estate sector’s trade volume tanked 84% to 5.73mn shares, value by 89% to QR6.3mn and deals by 60% to 207.
The insurance sector reported 83% shrinkage in trade volume to 2.36mn equities, 87% in value to QR5.01mn and 44% in transactions to 140.
The banks and financial services sector’s trade volume declined 61% to 17.67mn stocks, value by 77% to QR74.13mn and deals by 43% to 948.
The industrials sector saw 32% contraction in trade volume to 14.26mn shares, 81% in value to QR22.38mn and 31% in transactions to 691.
The consumer goods sector’s trade volume declined 18% to 6.35mn equities, value by 87% to QR8.39mn and deals by 60% to 458.
In the debt market, there was no trading of treasury bills and sovereign bonds.
