Foreign institutions’ substantially stronger buying interests yesterday sustained the bullish run in the Qatar Stock Exchange for the fourth consecutive day.
The consumer goods and banking counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.42%, or 39 points, higher at 9,252.07, although it touched a high of 9,271 points within 30 minutes of opening.
Arab individuals were seen bullish and there was weakened selling by local retail investors in the bourse, whose year-to-date losses were trimmed to 11.26%.
Market capitalisation saw more than QR2bn, or 0.42%, expansion to QR524.63bn mainly owing to small cap segments.
Islamic stocks were seen gaining faster than the other indices in the market, where domestic funds were seen net profit takers.
Trade turnover and volumes were on the increase in the market, where the consumer goods, realty, industrials and banking sectors together accounted for about 93% of the total trading volume.
The Total Return Index gained 0.42% to 17,786.8 points, the All Share Index by 0.46% to 2,867.99 points and the Al Rayan Islamic Index (Price) by 0.51% to 2,069.28 points.
The consumer goods and services index shot up 1.14%, banks and financial services (0.58%), industrials (0.48%) and transport (0.01%); while insurance declined 0.71%, telecom (0.66%) and real estate (0.11%).
More than 52% of the traded constituents extended gains with major movers being QNB, Qatar Electricity and Water, Gulf International Services, Mazaya Qatar, Qatar German Company for Medical Devices, Medicare Group, Qatar Oman Investment, Alijarah Holding, Al Meera, Qatar Industrial Manufacturing and Qatar Islamic Insurance; even as Doha Bank, Al Khaliji, Vodafone Qatar, Ooredoo and United Development Company were among the losers.
Foreign institutions’ net buying increased substantially to QR69.74mn compared to QR13.64mn on June 3.
Arab individuals were net buyers to the tune of QR2.11mn against net sellers of QR4.73mn the previous day.
Local retail investors’ net selling declined considerably to QR38.34mn compared to QR58.44mn on Wednesday.
Foreign individuals’ net profit booking also fell perceptibly to QR2.37mn against QR2.61mn on June 3.
The Arab funds’ net selling weakened marginally to QR0.1mn compared to QR0.18mn the previous day.
However, domestic funds were net sellers to the extent of QR27.45mn against net buyers of QR42.23mn on Wednesday.
Gulf individuals turned net sellers to the tune of QR3.21mn compared with net buyers of QR2.85mn on June 3.
Gulf institutions were net profit takers to the tune of QR0.35mn against net buyers of QR7.22mn the previous day.
Total trade volumes rose 8% to 182.06mn shares, value by 9% to QR439.14mn and transactions by less than 1% to 10,151.
The consumer goods and services sector’s trade volume more than doubled to 55.83mn equities and value almost tripled to QR111.19mn on an 84% increase in deals to 2,125.
The banks and financial services sector saw an 18% expansion in trade volume to 37.46mn stocks and 11% in value to QR170.68mn but on a 14% shrinkage in transactions to 3,286.
The industrials sector’s trade volume was up 10% to 38.28mn shares, while value fell 15% to QR79.89mn despite 11% higher deals at 2,529.
However, there was a 49% plunge in the transport sector’s trade volume to 5.91mn equities, 41% in value to QR17.62mn and 22% in transactions to 533.
The telecom sector’s trade volume plummeted 40% to 3.69mn stocks, value by 22% to QR10.22mn and deals by 21% to 346.
The real estate sector reported a 36% shrinkage in trade volume to 36.99mn shares, 27% in value to QR41.78mn and 32% in transactions to 1,090.
The insurance sector’s trade volume tanked 32% to 3.89mn equities, value by 33% to QR7.76mn and deals by 32% to 242.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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