The Qatar Stock Exchange Tuesday remained under bullish influence for the second straight session and its key index gained about 38 points to scale 8,800 levels, mainly lifted by the industrials segment.
Domestic funds as well as Arab and foreign individuals turned net buyers as the 20-stock Qatar Index settled 0.43% higher at 8,802.14 points, after hitting a low of 8,777 points within 30 minutes of the opening.
The increased net buying from the Gulf funds also had its role on the bourse, whose year-to-date losses were at 15.57%.
Market capitalisation saw more than QR3bn or 0.7% increase to QR499.03bn mainly owing to midcap segments.
Islamic stocks were seen gaining faster than the other indices on the market, where local retail investors turned bearish and there was also increased net selling by foreign institutions.
Trade turnover declined amidst lower volumes on the market, where the consumer goods, industrials and banking sectors together accounted for about 79% of the total trading volume.
The Total Return Index gained 0.43% to 16,921.82 points, All Share Index by 0.57% to 2,732.49 points and Al Rayan Islamic Index (Price) by 0.91% to 1,966.75 points.
The industrials index soared 2.15%, consumer goods and services (0.64%), real estate (0.47%), banks and financial services (0.22%), insurance (0.22%) and transport (0.06%); while telecom declined 0.63%.
More than 71% of the traded constituents were in the red with major movers being Industries Qatar, Mesaieed Petrochemical Holding, Gulf International Services, Qamco, Qatar National Cement, Qatari Investors Group, Barwa, Doha Bank, Qatar First Bank, Dlala, Alijarah Holding, Medicare Group, Qatar German Company for Medical Devices and Salam International Investment; even as Ooredoo, Vodafone Qatar, United Development Company, Qatar Islamic Bank, Qatar Oman Investment and Salam International Investment were among the losers.
Domestic funds turned net buyers to the tune of QR16.31mn compared with net sellers of QR6.74mn on Monday.
The Gulf institutions’ net buying increased noticeably to QR5.26mn against QR2.29mn the previous day.
The Arab individuals were net buyers to the extent of QR2.57mn compared with net sellers of QR0.87mn on May 18.
Foreign individuals turned net buyers to the tune of QR1.64mn against net profit takers of QR0.56mn on Monday.
However, foreign funds’ net selling increased considerably to QR22.07mn compared to QR13.39mn the previous day.
The Gulf individuals’ net profit booking grew perceptibly to QR2.05mn against QR0.53mn on May 18.
Local retail investors turned net sellers to the tune of QR1.7mn compared with net buyers of QR19.76mn on Monday.
The Arab funds had no major exposure both the days.
Total trade volumes rose 2% to 146.95mn shares, while value fell 5% to QR292.28mn despite 1% higher transactions at 10,820.
The banks and financial services sector saw 56% surge in trade volume to 35.72mn equities but on less than 1% fall in value to QR134.62mn despite 4% higher deals at 4,115.
The insurance sector’s trade volume soared 43% to 5.47mn stocks and value by 44% to QR10.99mn, whereas transactions were down 3% to 835.
The market witnessed 15% expansion in the consumer goods and services sector’s trade volume to 41.52mn shares but on 11% decline in value to QR53.23mn and 10% in deals to 1,680.
However, the telecom sector’s trade volume plummeted 47% to 2.69mn equities, value by 37% to QR6.66mn and transactions by 27% to 343.
There was a 21% plunge in the industrials sector’s trade volume to 38.45mn stocks, 15% in value to QR50.05mn and 20% in deals to 1,573.
The real estate sector’s trade volume tanked 20% to 17.57mn shares and value by 10% to QR19.51mn, while transactions shot up 53% to 1,510.
The transport sector reported 3% shrinkage in trade volume to 5.545mn equities but on 12% growth in value to QR17.23mn and 34% in deals to 764.
In the debt market, there was no trading of sovereign bonds and treasury bills.