The Qatar Stock Exchange on Thursday gained 63 points to inch near the 8,800 levels, mainly lifted by the real estate and industrials sectors.
The Arab funds were increasingly net buyers and there was substantially weakened net selling by local retail investors as the 20-stock Qatar Index settled 0.72% higher at 8,764.05 points, although it touched a low of 8,728 points within 15 minutes of opening.
The Arab and foreign individuals were also bullish on the bourse, whose year-to-date losses were trimmed to 15.94%.
Market capitalisation saw more than QR3bn or 0.63% jump to QR493.84bn mainly owing to small and microcap segments.
Islamic stocks were seen gaining faster than the other indices on the market, where foreign funds were increasingly net sellers and there was substantially lower buying interests from domestic institutions.
Trade turnover grew amidst lower volumes on the market, where the real estate and industrials sectors together accounted for more than 69% of the total trading volume.
The Total Return Index rose 0.72% to 16,848.59 points, All Share Index by 0.57% to 2,720.37 points and Al Rayan Islamic Index (Price) by 1.06% to 1,920.27 points.
The real estate index soared 2.74%, industrials (2.24%), telecom (0.51%), insurance (0.47%) and banks and financial services (0.34%); whereas transport and consumer goods and services declined 1.97% and 0.29% respectively.
About 67% of the traded constituents extended gains with major movers being Mazaya Qatar, United Development Company, Barwa, Qatar National Cement, Industries Qatar, Qatari Investors Group, Qamco, Al Khaleej Takaful, Commercial Bank, Qatar Islamic Bank, Alijarah Holding, Qatar Oman Investment, Qatar German Company for Medical Devices, Mannai Corporation and Widam Food; even as Milaha, Nakilat, Al Khaliji, Islamic Holding Group and Medicare Group were among the losers.
The Arab institutions’ net buying increased notably to QR4.5mn compared to QR1.53mn on April 29.
The Arab individuals turned net buyers to the tune of QR3.1mn against net sellers of QR4.35mn on Wednesday.
Foreign individuals were net buyers to the extent of QR2.86mn compared with net sellers of QR3.14mn the previous day.
Local retail investors’ net selling declined substantially to QR13.35mn against QR79.45mn on April 29.
The Gulf individuals’ net profit booking eased marginally to QR0.05mn compared to QR1.03mn on Wednesday.
However, foreign institutions’ net selling grew noticeably to QR26.54mn against QR18.48mn the previous day.
Domestic funds’ net buying weakened significantly to QR18.3mn compared to QR91.97mn on April 29.
The Gulf funds’ net buying declined perceptibly to QR10.12mn against QR12.93mn on Wednesday.
Total trade volumes fell 23% to 324.02mn shares, value by 8% to QR484.24mn and transactions by 23% to 13,223.
The insurance sector’s trade volume plummeted 46% to 3.75mn equities, value by 45% to QR7.26mn and deals by 34% to 314.
The consumer goods and services sector reported 29% plunge in trade volume to 44.6mn stocks but on 4% increase in value to QR62.51mn and 3% in transactions to 1,443.
The real estate sector’s trade volume tanked 27% to 154.62mn shares, and value by 19% to QR128.57mn, while deals grew 58% to 3,265.
There was 20% shrinkage in the telecom sector’s trade volume to 4.94mn equities, 36% in value to QR18.74mn and 33% in transactions to 810.
The transport sector’s trade volume shrank 19% to 5.77mn stocks, value by 2% to QR19.61mn and deals by 20% to 660.
The banks and financial services sector saw 14% contraction in trade volume to 39.86mn shares but on 41% growth in value to QR140.7mn and 54% in transactions to 4,587.
The industrials sector’s trade volume was down 13% to 70.48mn equities, whereas value soared 56% to QR106.84mn and deals by 17% to 2,144.
In the debt market, there was no trading of sovereign bonds and treasury bills.