The proposed merger of Masraf Al Rayan and Al Khaliji continued to have its overarching influence on the Qatar Stock Exchange, whose main barometer on Thursday vaulted more than 124 points to cross the 9,200 level with ease.
Foreign funds were increasingly net buyers as the 20-stock Qatar Index shot up 1.37% to 9,211.89 points, amidst six banking entities – QNB, Qatar Islamic Bank, Commercial Bank, Doha Bank, QIIB and Masraf Al Rayan – trading in the special market.
The industrials, transport and banking counters witnessed higher than average demand in the market, whose year-to-date losses were trimmed to 11.64%.
Market capitalisation saw about QR11bn, or 2.04%, surge to QR534.62bn mainly owing to large and small cap segments.
Islamic stocks were seen gaining slower than the other indices in the market, which saw local retail investors turn bullish albeit at lower levels.
Trade turnover grew amidst lower volumes in the market, where the real estate and banking sectors together accounted for about 59% of the total trading volume.
The Total Return Index gained 1.37% to 17,709.36 points, the All Share Index by 1.59% to 2,877.66 points and the Al Rayan Islamic Index (Price) by 0.95% to 2,067.55 points.
The industrials index soared 3.07%, transport (1.7%), banks and financial services (1.64%), real estate (0.72%) and insurance (0.4%); while consumer goods and telecom declined 0.49% and 0.1% respectively.
About 57% of the traded constituents extended gains with major movers being Al Khaliji, Industries Qatar, Mesaieed Petrochemical Holding, Gulf International Services, QNB, Qatar Islamic Bank, Qatar Oman Investment, Medicare Group, Salam International Investment, Baladna, Ezdan and Milaha, while Doha Insurance, Al Khaleej Takaful, Gulf Warehousing and Barwa were among the losers.
Foreign institutions’ net buying increased significantly to QR36.08mn compared to QR9.81mn on July 1.
Qatari individuals turned net buyers to the tune of QR2.03mn against net sellers of QR49.97mn the previous day.
Gulf individuals were net buyers to the extent of QR0.92mn compared with net sellers of QR1.26mn on Wednesday.
However, domestic funds turned net sellers to the tune of QR22.92mn against net buyers of QR42.11mn on July 1.
Arab individuals’ net selling grew substantially to QR10.08mn compared to QR6.35mn the previous day.
Foreign individuals’ net profit booking also rose noticeably to QR6.09mn against QR1.01mn on Wednesday.
Gulf institutions’ net buying weakened considerably to QR0.07mn compared to QR6.66mn on July 1.
Arab institutions continued to have no major exposure.
Total trade volumes fell 6% to 394.15mn shares, while value grew 4% to QR654.73mn despite 5% lower transactions at 10,386.
The industrials sector’s trade volume plummeted 28% to 59.32mn equities, while value was up less than 1% to QR81.68mn despite 9% lower deals at 2,018.
The real estate sector reported a 17% plunge in trade volume to 120.06mn stocks, 17% in value to QR136.73mn and 17% in transactions to 1,929.
The consumer goods and services sector’s trade volume fell 12% to 78.2mn shares, while value rose 22% to QR97.51mn despite less than 1% lower deals at 1,726.
However, the transport sector’s trade volume more than doubled to 10.98mn equities and value more than quadrupled to QR56.84mn on more-than-doubled transactions to 400.
The banks and financial services sector saw a 26% surge in trade volume to 114.37 stocks but on a 2% shrinkage in value to QR261.21mn and 10% in deals to 3,374.
The insurance sector’s trade volume expanded 8% to 7.97mn shares, whereas value declined 15% to QR11.87mn despite 36% higher transactions at 338.
There was a 1% rise in the telecom sector’s trade volume to 3.24mn equities, 3% in value to QR8.89mn and 36% jump in deals to 601.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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