The proposed merger between Masraf Al Rayan and Al Khaliji appears to have lifted sentiments on the Qatar Stock Exchange, which yesterday gained more than 89 points to close a tad below 9,100 levels.
The banking counter witnessed higher than average demand as the 20-stock Qatar Index soared about 1% to 9,087.76 points.
Foreign funds were seen bullish and there was increased net buying support from their Gulf counterparts on the bourse, whose year-to-date losses were at 12.83%.
Market capitalisation saw about QR4bn or 0.75% increase to QR523.92bn mainly owing to mid and small cap segments.
Islamic stocks were seen declining slower than the main index on the market, which saw local retail investors continue to be net sellers but with lesser vigour.
Trade turnover and volumes were on the decline in the market, where the real estate and banking sectors together accounted for about 56% of the total trading volume.
The Total Return Index gained 0.99% to 17,470.93 points, All Share Index by 0.93% to 2,832.63 points and Al Rayan Islamic Index (Price) by 0.97% to 2,048.9 points.
The banks and financial services index expanded 1.55%, telecom (0.89%), transport (0.33%), consumer goods (0.22%) and industrials (0.09%); while realty and insurance declined 0.86% and 0.02% respectively.
More than 54% of the traded constituents extended gains with major movers being Al Khaliji, Masraf Al Rayan, Doha Bank, Commercial Bank, QIIB, Dlala, Ooredoo, Milaha, Baladna, Qatar Electricity and Water, Aamal Company and Qamco; even as Qatar Oman Investment, Ahlibank Qatar, Salam International Investment, Qatar Industrial Manufacturing, Industries Qatar and Mazaya Qatar were among the losers.
Foreign funds turned net buyers to the tune of QR9.81mn compared with net sellers of QR78.99mn on June 30.
The Gulf institutions’ net buying increased noticeably to QR6.66mn against QR6.97mn the previous day.
Qatari individuals’ net selling fell marginally to QR49.97mn compared to QR50.89mn on Wednesday.
However, the Arab individuals were net sellers to the extent of QR6.35mn against net buyers of QR1.5mn on June 30.
The Gulf individuals turned net sellers to the tune of QR1.26mn compared with net buyers of QR0.07mn the previous day.
Foreign individuals were also net profit takers to the extent of QR1.01mn against net buyers of QR0.48mn on Wednesday.
Domestic funds’ net buying weakened substantially to QR42.11mn compared to QR124.03mn on June 30.
The Arab institutions had no major exposure against net sellers to the tune of QR0.41mn the previous day.
Total trade volumes fell 16% to 420.79mn shares, value by 8% to QR628.58mn and transactions by 2% to 10,893.
The market witnessed 71% plunge in the telecom sector’s trade volume to 3.2mn equities and 49% in value to QR8.59mn but on 34% jump in deals to 441.
The real estate sector’s trade volume plummeted 36% to 144.34mn stocks, value by 34% to QR165.22mn and transactions by 25% to 2,324.
There was 27% shrinkage in the transport sector’s trade volume to 4.5mn shares, 39% in value to QR12.69mn and 48% in deals to 191.
The banks and financial services sector’s trade volume was down 9% to 90.84 equities, while value expanded 27% to QR266.72mn and transactions by 22% to 3,731.
However, the insurance sector’s trade volume grew more than six-fold to 7.37mn stocks and value also by more than six-fold to QR13.97mn on more than doubled deals to 249.
The consumer goods and services sector saw 9% growth in trade volume to 88.62mn shares, while value shrank 13% to QR79.76mn despite 4% higher transactions at 1,729.
The industrials sector’s trade volume grew 6% to 81.91mn equities, whereas value declined 10% to QR81.63mn and deals by 13% to 2,228.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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