Domestic institutions’ strong penchant for buying Wednesday extended the bullish run on the Qatar Stock Exchange for the second straight session as its key index surpassed the 9,200 level.
The transport, banking and real estate counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.76% higher at 9,229.93 points.
Foreign institutions’ weakened net selling also had its influence in the market, whose year-to-date losses were trimmed to 11.47%.
Market capitalisation saw more than QR5bn, or 1.02%, expansion to QR525.62bn mainly owing to large and midcap segments.
Nevertheless, local, Arab and foreign individuals were seen net profit takers in the bourse, which saw QNB, Qatar Islamic Bank, Commercial Bank, Doha Bank, QIIB and Masraf Al Rayan trading in the special segment.
Trade turnover grew amidst lower volumes in the market, where the industrials and banking sectors together accounted for about 57% of the total trading volume.
The Total Return Index gained 0.76% to 17,744.24 points, the All Share Index by 0.93% to 2,867.32 points and the Al Rayan Islamic Index (Price) by 0.8% to 2,078.24 points.
The transport index soared 1.48%, followed by banks and financial services (1.14%), realty (0.83%), industrials (0.71%), telecom (0.31%) and consumer goods and services (0.22%); while insurance was down 0.16%.
More than 65% of the traded constituents extended gains with major movers being Nakilat, Gulf Warehousing, QNB, QIIB, Doha Bank, Al Khaliji, Dlala, Qatar Oman Investment, Medicare Group, Mannai Corporation, Qatar Industrial Manufacturing, Aamal Company, Mesaieed Petrochemical Holding and Vodafone Qatar; even as Alijarah Holding, Qatari Investors Group, Gulf International Services, Qatar Insurance, Qamco and Milaha were among the losers.
Domestic funds’ net buying increased considerably to QR22.83mn compared to QR7.05mn on June 16.
Foreign institutions’ net selling declined significantly to QR3.43mn against QR14.75mn the previous day.
However, local retail investors’ net selling grew substantially to QR10.59mn compared to QR6.28mn on Tuesday.
Arab individuals were net profit takers to the extent of QR6.14mn against net buyers of QR4.54mn on June 16.
Gulf individuals turned net sellers to the tune of QR1.75mn compared with net buyers of QR0.29mn the previous day.
Foreign individuals were also net sellers to the extent of QR1.09mn against net buyers of QR3.41mn on Tuesday.
Gulf funds’ net buying weakened notably to QR0.13mn compared to QR5.73mn on June 16.
Arab institutions had no major exposure.
Total trade volumes fell 9% to 188.38mn shares, while value was up 2% to QR329.96mn and transactions by 10% to 8,191.
The real estate sector reported a 50% plunge in trade volume to 33.54mn equities, 48% in value to QR34.62mn and 26% in deals to 877.
The insurance sector’s trade volume plummeted 19% to 7.66mn stocks, value by 18% to QR15.07mn and transactions by 25% to 385.
The banks and financial services sector saw a 3% dip in trade volume to 43.18mn shares but on an 18% increase in value to QR138.92mn and 16% in deals to 3,050.
However, the consumer goods and services sector’s trade volume soared 95% to 29.45mn equities, value by 81% to QR41.93mn and transactions by 69% to 1,169.
The telecom sector reported a 50% surge in trade volume to 5.34mn stocks, 85% in value to QR11.78mn and 61% in deals to 374.
The transport sector’s trade volume expanded 4% to 5.37mn shares, while value shrank 2% to QR15.34mn despite a 15% higher transactions at 392.
There was a 2% jump in the industrials sector’s trade volume to 63.84mn equities but on a 2% fall in value to QR72.3mn despite 3% higher deals at 1,944.
In the debt market, there was no trading of sovereign bonds and treasury bills.