Ahead of Eid Al-Fitr holidays, domestic institutions increasingly bought equities, thus lifting the Qatar Stock Exchange more than 17 point on Thursday.
The banking, transport, real estate and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.19% higher at 8,873.16 points, although it touched an intraday low of 8,763 points.
The Arab individuals were seen bullish and there was increased net buying from the Gulf funds in the bourse, whose year-to-date losses stood at 14.89%.
Market capitalisation saw more than QR3bn, or 0.61%, growth to QR504.4bn mainly owing to small cap segments.
Islamic stocks were however seen declining vis-a-vis gains in the other indices in the market, where foreign institutions turned net profit takers.
Trade turnover and volumes were on the increase in the market, where the insurance, industrials and banking sectors together accounted for about 67% of the total trading volume.
The Total Return Index gained 0.19% to 17,058.36 points and the All Share Index by 0.64% to 2,765.72 points, while the Al Rayan Islamic Index (Price) was down 0.13% to 1,979.77 points.
The banks and financial services index rose 1.48%, followed by transport (0.94%), realty (0.88%), consumer goods and services (0.3%) and insurance (0.16%); while industrials and telecom declined 1.57% and 1.48% respectively.
More than 57% of the traded stocks extended gains with major movers being QNB, Qatar Islamic Bank, Masraf Al Rayan, Dlala, Islamic Holding Group, Medicare Group, Gulf Warehousing, Milaha, Barwa and Gulf International Services.
Nevertheless, Commercial Bank, QIIB, Alijarah Holding, Ooredoo, Vodafone Qatar, Industries Qatar, Aamal Company, Baladna and Mannai Corporation were among the losers.
The domestic funds turned net buyers to the tune of QR154.01mn against net sellers of QR3.12mn on May 20.
The Gulf institutions’ net buying increased noticeably to QR12.46mn compared to QR11.44mn on Wednesday.
The Arab individuals were net buyers to the extent of QR4.77mn against net sellers of QR7.31mn the previous day.
However, foreign funds’ net selling increased substantially to QR148.08mn compared to QR2.36mn on May 20.
Local retail investors were net sellers to the tune of QR18.28mn against net buyers of QR2.74mn on Wednesday.
The Gulf individuals’ net profit booking grew perceptibly to QR2.79mn compared to QR0.98mn the previous day.
Foreign individuals’ net selling strengthened significantly to QR1.28mn against QR0.06mn on May 20.
The Arab funds’ net profit booking expanded influentially to QR0.76mn compared to QR0.38mn on Wednesday.
Total trade volumes more than doubled to 398.97mn shares and value almost tripled QR1.16bn on a 36% increase in transactions to 14,751.
The insurance sector’s trade volume grew almost 11-fold to 117.04mn equities and value also by about 11-fold to QR236.16mn on more-than-doubled deals to 2,670.
The telecom sector’s trade volume more than tripled to 5.25mn stocks, value rose almost eight-fold to QR24.67mn on a 65% growth in transactions to 407.
The industrials sector’s trade volume more than doubled to 80.26mn shares and value almost quadrupled to QR171.59mn on a 61% jump in deals to 2,459.
The banks and financial services sector’s trade volume more than doubled to 68.26mn equities and value almost quadrupled to QR476.01mn on a 77% expansion in transactions to 4,989.
The transport sector’s trade volume more than doubled to 56.93mn stocks and value also more than doubled to QR135.62mn but on a 30% shrinkage in deals to 1,852.
The real estate sector’s trade volume almost doubled to 39.43mn shares and value almost tripled to QR54.08mn on a 44% growth in transactions to 1,015.
However, there was a 3% fall in the consumer goods and services sector’s trade volume to 31.8mn equities but on a 51% surge in value to QR65.99mn despite 31% lower deals at 1,359.
In the debt market, there was no trading of sovereign bonds and treasury bills.
