The Qatar Stock Exchange on Sunday opened the week on a stronger note with its key index surpassing the 9,300 level with ease, mainly on Arab individuals’ increased buying interests.
The industrials, real estate and insurance counters witnessed higher than average demand as the 20-stock Qatar Index settled 1.05% higher at 9,349.3 points, reflecting the general positive sentiments in the Gulf markets after oil producers agreed on extending the production cut until July end.
The Gulf funds and the local retail investors were seen bullish in the bourse, whose year-to-date losses were trimmed to 10.32%.
Market capitalisation saw about QR7bn, or 1.24%, expansion to QR531.15bn mainly owing to mid and small cap segments.
Islamic stocks were seen gaining faster than the other indices in the market, where foreign funds were seen net profit takers.
Trade turnover fell amidst higher volumes in the market, where the realty and industrials sectors together accounted for more than 62% of the total trading volume.
The Total Return Index gained 1.05% to 17,973.73 points, the All Share Index by 1.13% to 2,900.38 points and the Al Rayan Islamic Index (Price) by 1.54% to 2,101.07 points.
The industrials index soared 2.81%, real estate (1.6%), insurance (1.14%), banks and financial services (0.79%), consumer goods and services (0.57%) and transport (0,33%); while telecom was down 0.16%.
About 85% of the traded constituents extended gains with major movers being Industries Qatar, Gulf International Services, Qatari Investors Group, Mesaieed Petrochemical Holding, Ooredoo, Ezdan, Mazaya Qatar, Doha Insurance, Doha Bank, Qatar Islamic Bank, Masraf Al Rayan, Dlala, Islamic Holding Group, Qatari German Company for Medical Devices and United Development Company; even as Ooredoo, Mannai Corporation, Qatar First Bank and Qatar Islamic Insurance were among the losers.
The Arab individuals’ net buying increased influentially to QR9.4mn against QR2.11mn the previous trading day.
The Gulf institutions were net buyers to the tune of QR7.65mn compared with net sellers of QR0.35mn last Thursday.
Local retail investors turned net buyers to the extent of QR2.54mn against net sellers of QR38.34mn on June 4.
Domestic funds’ net selling declined significantly to QR13.62mn compared to QR27.45mn the previous trading day.
The Gulf individuals’ net profit booking shrank noticeably to QR1.25mn against QR3.21mn last Thursday.
However, foreign individuals’ net selling grew perceptibly to QR3.47mn compared to QR2.37mn on June 4.
Foreign funds were net sellers to the extent of QR0.89mn against net buyers of QR69.74mn the previous trading day.
The Arab funds’ net profit booking expanded marginally to QR0.32mn compared to QR0.1mn last Thursday.
Total trade volumes rose 23% to 224.23mn shares, while value declined 19% to QR357.49mn and transactions by 29% to 7,196.
The real estate sector’s trade volume more than doubled to 75.02mn equities, value soared 61% to QR67.26mn and deals by 16% to 1,260.
There was a 70% surge in the insurance sector’s trade volume to 6.62mn stocks, 52% in value to QR11.77mn and 12% in transactions to 270.
The industrials sector’s trade volume shot up 68% to 64.15mn shares and value by 17% to QR93.21mn, whereas deals shrank 26% to 1,876.
The banks and financial services sector’s trade volume expanded 21% to 45.22mn equities; while value declined 27% to QR124.98mn and transactions by 32% to 2,247.
However, the transport sector reported a 53% plunge in trade volume to 2.75mn stocks, 49% in value to QR8.96mn and 66% in deals to 182.
The consumer goods and services sector’s trade volume plummeted 51% to 27.32mn shares, value by 60% to QR44.85mn and transactions by 46% to 1,143.
The telecom sector saw a 15% shrinkage in trade volume to 3.14mn equities, 37% in value to QR6.46mn and 37% in deals to 218.
In the debt market, there was no trading of sovereign bonds and treasury bills.