Foreign funds’ robust bullish outlook on Thursday propelled the Qatar Stock Exchange more than 92 points to place the key barometer in a higher 9,300 orbit.
The real estate, consumer goods, banking and telecom counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.99% higher at 9,316.44 points, although it touched a low of 9,209 points within 60 minutes of the opening.
A weakened net selling by domestic funds also had its role on the bourse, whose year-to-date losses were at 10.64%.
Market capitalisation saw about QR7bn or 1.24% increase to QR544.21bn mainly owing to large and midcap segments.
Islamic stocks were seen gaining slower than the other indices on the market, which the Gulf funds were increasingly net sellers and there was a substantial weakening of net buying by local retail investors.
Trade turnover grew amidst lower volumes on the market, where the real estate and banking sectors together accounted for about 59% of the total trading volume.
The Total Return Index gained 0.99% to 17,910.54 points, Al Rayan Islamic Index (Price) by 0.74% to 2,092.49 points and All Share Index by 1.28% to 2,911.4 points.
The realty index soared 2%, consumer goods and services (1.7%), banks and financial services (1.5%), telecom (1.08%), industrials (0.74%) and transport (0.64%); while insurance was down 0.2%.
About 69% of the traded constituents extended gains with major movers being Barwa, QNB, Doha Bank, Commercial Bank, Qatar First Bank, Qatari German Company for Medical Devices, Salam International Investment, Woqod, Industries Qatar, Qamco, Ooredoo and Nakilat; even as Dlala, Qatar Oman Investment, Mannai Corporation, Qatari Investors Group, Ezdan, Gulf Warehousing and Qatar Electricity and Water were among the losers.
Foreign funds turned net buyers to the tune of QR22.81mn compared with net sellers of QR12.54mn on July 8.
The Arab funds were also net buyers to the extent of QR0.07mn against net sellers of QR0.44mn the previous day.
Domestic institutions’ net selling declined perceptibly to QR15.21mn compared to QR21.89mn on July 8.
However, the Gulf institutions’ net selling grew considerably to QR4.01mn compared to QR0.18mn on July 8.
Foreign individuals turned net sellers to the tune of QR2.34mn against net buyers of QR9.17mn the previous day.
The Arab individuals were net sellers to the extent of QR1.74mn compared with net buyers of QR2.01mn on Wednesday.
The Gulf individuals’ net profit booking strengthened notably to QR1.08mn against QR0.06mn on July 8.
The local retail investors’ net buying weakened substantially to QR1.5mn compared to QR23.9mn the previous day.
Total trade volumes fell 3% to 299.45mn shares, while value rose 1% to QR598.81mn and transactions by 27% to 11,568.
The insurance sector’s trade volume plummeted 47% to 3.65mn equities, value by 37% to QR6.63mn and deals by 39% to 172.
The banks and financial services sector saw 23% plunge in trade volume to 82.07mn stocks and 23% in value to QR209.56mn but on 42% growth in transactions to 3,836.
The industrials sector’s trade volume tanked 21% to 33.99mn shares, value by 2% to QR53.44mn and deals by 7% to 1,515.
There was 12% contraction in the real estate sector’s trade volume to 94.42mn equities but on 33% increase in value to QR189.44mn and 11% in transactions to 2,766.
However, the consumer goods and services sector’s trade volume more than doubled to 61.64mn stocks, value soared 58% to QR71.5mn and deals by 63% to 1,611.
The telecom sector reported 93% surge in trade volume to 6.78mn shares, 38% in value to QR12.88mn and 49% in transactions to 649.
The transport sector’s trade volume was up 4% to 16.9mn equities, whereas value was down 1% to QR55.37mn despite 82% higher deals at 1,019.
In the debt market, there was no trading of sovereign bonds and treasury bills.
