The strong bullish sentiments of foreign funds on Thursday gave further impetus to the Qatar Stock Exchange, whose key index gained more than 90 points to cross the 9,300 level with ease.
The telecom and industrials counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.98% higher at 9,320.18 points, although it touched a low of 9,219 points intraday.
The bullish momentum came ahead of the meeting of the Organisation of the Petroleum Exporting Countries to decide on the future output.
Gulf funds were increasingly net buyers and Gulf individuals turned bullish in the market, whose year-to-date losses stood at 10.6%.
Market capitalisation saw more than QR3bn, or 0.68%, expansion to QR529.21bn mainly owing to midcap segments.
Nevertheless, local retail investors were increasingly net profit takers in the bourse, which saw decliners outnumber gainers by a thin margin.
Trade turnover and volumes were on the increase in the market, where the realty and consumer goods sectors together accounted for more than 56% of the total trading volume.
The Total Return Index gained 0.98% to 17,917.74 points, the All Share Index by 0.7% to 2,887.45 points and the Al Rayan Islamic Index (Price) by 0.57% to 2,090.17 points.
The telecom index soared 2.29%, followed by industrials (1.46%), banks and financial services (0.78%), real estate (0.4%) and consumer goods and services (0.07%); while insurance declined 2.72% and transport 0.3%.
Major movers included Ooredoo, Industries Qatar, Aamal Company, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Barwa, Qatar Islamic Bank, Doha Bank, QIIB, Dlala, Islamic Holding Group, Baladna and Salam International Investment; whereas Qamco, Qatar Insurance, Ezdan, Mazaya Qatar, United Development Company, Medicare Group, Mannai Corporation, Qatar National Cement and Qatar industrial Manufacturing.
Foreign institutions turned net buyers to the tune of QR59.47mn against net sellers of QR3.43mn on June 17.
Gulf funds’ net buying increased substantially to QR7.01mn compared to QR0.13mn the previous day.
Gulf individuals were net buyers to the extent of QR2.82mn against net sellers of QR1.75mn on Wednesday.
Arab individuals’ net profit booking declined notably to QR3.42mn compared to QR6.14mn on June 17.
However, local retail investors’ net selling grew significantly to QR82.28mn against QR10.59mn the previous day.
Foreign individuals’ net profit booking strengthened perceptibly to QR3.16mn compared to QR1.09mn on Wednesday.
Arab institutions turned net sellers to the tune of QR0.09mn against no major exposure on June 17.
Domestic funds’ net buying eased influentially to QR19.65mn compared to QR22.83mn the previous day.
Total trade volumes almost doubled to 368.58mn shares and value more than doubled to QR854.41mn on a 55% increase in transactions to 12,705.
The real estate sector’s trade volume more than tripled to 125.47mn equities and value grew more than five-fold to QR182.06mn on almost-tripled deals to 2,382.
The consumer goods and services sector’s trade volume more than doubled to 82.08mn stocks and value more than doubled to QR108.85mn on more-than-doubled transactions to 2,486.
There was a 68% surge in the transport sector’s trade volume to 9.03mn shares, 72% in value to QR26.43mn and 7% in deals to 419.
The insurance sector’s trade volume soared 56% to 11.96mn equities, value by 52% to QR22.92mn and transactions by 7% to 412.
The banks and financial services sector saw a 50% growth in trade volume to 65.65mn stocks on more-than-doubled value to QR361.09mn and 30% in deals to 3,966.
The telecom sector’s trade volume shot up 33% to 7.1mn shares and value almost doubled to QR22.99mn on more-than-doubled transactions to 765.
The market witnessed a 7% jump in the industrials sector’s trade volume to 68.29mn equities, 80% in value to QR130.07mn and 17% in deals to 2,275.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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