The Qatar Stock Exchange Sunday opened the week on a stronger note with its key index inching closer to 8,500 levels, mainly on account of bullish non-Qatari individuals.
Real estate, industrials and consumer goods counters witnessed higher-than-average demand as the 20-stock Qatar Index settled 27 points or 0.32% higher at 8,485.26 points.
The market had touched a high of 8,513 points within the first 15 minutes of opening, after which it was on a weak run for the next 30 minutes to touch a low of 8,442 points.
The weakened net selling pressure from local retail investors and domestic funds had also its influence on the bourse, whose year-to-date losses were trimmed to 18.61%.
Market capitalisation saw 0.1% or QR47mn increase to QR478.65bn mainly owing to microcap segments.
Islamic stocks were seen gaining faster than the other indices in the market, where the Gulf funds turned bearish and there was weakened net buying interests of non-Qatari institutions.
Trade turnover declined amidst higher volumes in the market, where real estate and industrials sectors together accounted for more than 68% of the total trading volume.
The Total Return Index rose 0.32% to 16,226.83 points, All Share Index by 0.01% to 2,639.54 points and Al Rayan Islamic Index (Price) by 1.5% to 1,828.31 points.
The real estate soared 2.73%, industrials (2.6%), consumer goods (1.21%), transport (0.33%) and telecom (0.09%), while banks and financial services declined 1.05% and insurance (0.03%).
As much as three-fourth of the traded constituents extended gains with major movers being United Development Company, Barwa, Mazaya Qatar, Vodafone Qatar, Mesaieed Petrochemical Holding, Industries Qatar, Gulf International Services, Qatari Investors Group, Qatar Electricity and Water, QIIB, Al Khaleej Takaful, Alijarah Holding, Qatar Oman Investment, Medicare Group, Woqod, Al Meera and Qatar Industrial Manufacturing; whereas QNB, Qatar Islamic Bank, Ooredoo and Gulf Warehousing were among the losers.
Non-Qatari individual investors turned net buyers to the tune of QR5.11mn against net sellers of QR5.62mn April 2.
Local retail investors’ net selling declined significantly to QR1.78mn compared to QR48.39mn last Thursday.
Domestic funds’ net selling also eased considerably to QR5.09mn against QR1.6mn the previous trading day.
However, the Gulf funds were net sellers to the extent of QR5.07mn compared with net buyers of QR2.46mn on April 2.
Non-Qatari institutions’ net buying eased substantially to QR6.64mn against QR63.13mn last Thursday.
The Gulf individuals’ net buying weakened marginally to QR0.2mn compared to QR0.51mn the previous trading day.
Total trade volumes rose 22% to 111.59mn shares, while value fell 32% to QR144.73mn and transactions by 32% to 4,220.
The telecom sector's trade volume almost tripled to 6.49mn equities and value grew 32% to QR11.85mn, while deals were down 3% to 424.
The industrials sector reported 73% surge in trade volume to 42.43mn stocks and 30% in value to QR48.19mn but on 23% decline in transactions to 1,325.
The real estate sector's trade volume shot up 59% to 33.65mn shares, value by 85% to QR31.44mn and deals by 53% to 896.
However, the banks and financial services sector saw 51% plunge in trade volume to 7.01 equities, 58% in value to QR20.21mn and 66% in transactions to 737.
The insurance sector's trade volume plummeted 53% to 0.83mn stocks, value by 55% to QR1.54mn and deals by 59% to 82.
There was 24% shrinkage in the consumer goods and services sector's trade volume to 19.77mn shares, 44% in value to QR27.96mn and 27% in transactions to 623.
The transport sector’s trade volume shrank 23% to 1.41mn equities, value by 16% to QR3.53mn and deals by 48% to 133.
In the debt market, there was no trading of sovereign bonds and treasury bills.