The increased buying interests of foreign institutions and substantially weakened selling pressure from local retail investors on Tuesday lifted the Qatar Stock Exchange near 9,800 levels.
The transport, telecom and real estate sectors witnessed higher than average demand as the 20-stock Qatar Index settled 0.69% higher at 9,775.75 points, although it touched a low of 9,664 points initially.
Non-Qatari individuals were seen bullish and there was weakened selling pressure from the Gulf institutions in the market, which is down 6.23% year-to-date.
Market capitalisation saw about QR5bn, or 0.9%, jump to QR542.93bn mainly owing to mid and small cap segments.
Islamic stocks were seen gaining faster than the main index in the bourse, where domestic institutions turned bearish.
Trade turnover and volumes were on the increase in the bourse, where the real estate and industrials sectors together accounted for about 69% of the total volume.
The Total Return Index rose 0.69% to 18,075.14 points, the All Share Index by 0.83% to 2,935.69 points and the Al Rayan Islamic Index (Price) by 0.79% to 2,125.59 points.
The transport index soared 2.33%, telecom (1.23%), realty (1.18%), banks and financial services (0.85%), industrials (0.68%) and consumer goods (0.32%); while insurance was down 0.16%.
About 69% of the traded constituents extended gains with major movers being Milaha, Nakilat, Ooredoo, United Development Company, Qatari Investors Group, Qatar Electricity and Water, QNB, Qatar Islamic Bank and Mesaieed Petrochemical Holding; even as Mazaya Qatar, Aamal Company and Doha Bank were among the losers.
Non-Qatari institutions’ net buying increased considerably to QR35.71mn compared to QR3.74mn on February 17.
Non-Qatari individuals turned net buyers to the tune of QR2.45mn against net sellers of QR0.25mn the previous day.
Local retail investors’ net selling declined substantially to QR5.37mn compared to QR30.71mn on Sunday.
The Gulf funds’ net profit booking also shrank perceptibly to QR11.12mn against QR15.87mn on February 17.
However, domestic funds were net sellers to the extent of QR18.98mn compared with net buyers of QR42.51mn the previous day.
The Gulf individuals were also net profit takers to the tune of QR2.74mn against net buyers of QR0.57mn on Sunday.
Total trade volumes grew 23% to 106.58mn shares, value by 14% to QR222.8mn and transactions by 20% to 6,885.
The transport sector’s trade volume almost tripled to 8.36mn equities and value also almost tripled to QR21.66mn on a 53% jump in deals to 694.
The industrials sector’s trade volume more than doubled to 25.84mn stocks and value also more than doubled to QR50.13mn on a 60% increase in transactions to 1,510.
The insurance sector’s trade volume more than doubled to 1.76mn shares and value soared 57% to QR3.39mn but on flat deals at 84.
The real estate sector reported a 53% surge in trade volume to 47.58mn equities, 50% in value to QR53.05mn and 18% in transactions to 1,429.
However, the consumer goods sector’s trade volume plummeted 69% to 5.56mn stocks, value by 51% to QR12.23mn and deals by 29% to 457.
The banks and financial services sector saw a 27% plunge in trade volume to 14.15mn shares and 25% in value to QR65.02mn but on 2% growth in transactions to 1,840.
The telecom sector’s trade volume shrank 10% to 3.32mn equities, whereas value shot up 13% to QR17.33mn and deals by 52% to 871.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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