The Qatar Stock Exchange on Thursday gained 40 points to settle a tad below 8,800 levels mainly on buying interests in transport and real estate equities.

Foreign funds were seen bullish as the 20-stock Qatar Index settled 0.46% higher at 8,799.3 points, although it touched a high of 8,842 points intraday.

The weakened net selling pressure by foreign individuals also had its impact on the bourse, whose year-to-date losses were at 15.6%.

Market capitalisation saw QR88mn, or 0.18%, increase to QR499.58bn mainly owing to microcap segments.

Islamic stocks were seen gaining faster than the other indices in the market, where local retail investors turned bearish and domestic funds continued to be net buyers but with lesser vigour.

Trade turnover and volumes were on the decline in the market, where the real estate and industrials sectors together accounted for more than 68% of the total trading volume.

The Total Return Index gained 0.46% to 16,916.36 points, the All Share Index by 0.4% to 2,735.88 points and the Al Rayan Islamic Index (Price) by 0.78% to 1,958.02 points.

The transport index rose 1.7%, realty (1.53%), telecom (0.8%), banks and financial services (0.3%), consumer goods and services (0.23%) and industrials (0.09%); whereas insurance was down 0.11%.

Major gainers included Gulf Warehousing, Milaha, Nakilat, United Development Company, Qatar National Cement, Mesaieed Petrochemical Holding, Qamco, Widam Food, Qatar Islamic Bank, QIIB and Al Khaliji; even as Ezdan, Qatar German Company for Medical Devices, Qatari Investors Group, Al Khaleej Takaful and Gulf International Services were among the losers.

Foreign institutions turned net buyers to the tune of QR4.77mn against net sellers of QR50.4mn on Wednesday.

Foreign individuals’ net selling declined noticeably to QR2.59mn compared to QR8.06mn the previous day.

However, local retail investors were net sellers to the extent of QR15.25mn against net buyers of QR29.64mn on May 6.

Gulf individuals’ net selling grew considerably to QR4.61mn compared to QR0.98mn on Wednesday.

Gulf institutions were net sellers to the extent of QR1.06mn against net buyers of QR0.21mn the previous day.

Arab individuals turned net sellers to the tune of QR0.9mn compared with net buyers of QR0.57mn on May 6.

Domestic funds’ net buying declined influentially to QR19.56mn against QR31.76mn on Wednesday.

Arab institutions had no major exposure compared with net buyers of QR0.06mn the previous day.

Total trade volumes fell 43% to 215mn shares, value by 36% to QR331.51mn and transactions by 27% to 10,239.

The telecom sector reported a 52% plunge in trade volume to 2.87mn equities, 52% in value to QR8.06mn and 36% in deals to 604.

The real estate sector’s trade volume plummeted 52% to 77.03mn stocks, value by 49% to QR73.56mn and transactions by 36% to 1,752.

The banks and financial services sector saw a 42% shrinkage in trade volume to 22.14mn shares, 28% in value to QR89.27mn and 21% in deals to 2,960.

The industrials sector’s trade volume tanked 39% to 69.51mn equities, value by 34% to QR87.11mn and transactions by 24% to 2,661.

There was a 16% contraction in the insurance sector’s trade volume to 4.82mn stocks, 18% in value to QR9.26mn and 25% in deals to 193.

The consumer goods and services sector’s trade volume was down 10% to 31.33mn shares, value by 5% to QR43.96mn and transactions by 10% to 1,190.

However, the transport sector’s trade volume more than quadrupled to 73mn equities but on a 51% dip in value to QR20.28mn and 42% in deals to 879.

In the debt market, there was no trading of sovereign bonds and treasury bills.

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