Islamic equities continued to outperform other sectors on the Qatar Stock Exchange, whose key barometer Wednesday gained 75 points to inch near 9,400 levels.
Local retail investors’ substantially heightened net buying interests led the 20-stock Qatar Index settle 0.81% higher at 9,394.59 points.
The industrials, real estate and insurance counters witnessed higher than average demand on the bourse, whose year-to-date losses narrowed down to 9.89%.
Market capitalisation saw more than QR5bn or 0.93% increase to QR548.71bn mainly owing to large and midcap segments.
Trade turnover and volumes were on the increase on the market, where the industrials and realty sectors together accounted for more than 71% of the total trading volume.
The Total Return Index gained 0.81% to 18,060.79 points, Al Rayan Islamic Index (Price) by 1.11% to 2,145.25 points and All Share Index by 0.83% to 2,933.89 points.
The industrials index soared 1.81%, real estate (1.53%), insurance (1.16%), banks and financial services (0.7%) and transport (0.05%); whereas telecom and consumer goods and services declined 0.28% and 0.09% respectively.
More than 55% of the traded constituents extended gains with major movers being Industries Qatar, Aamal Company, Mesaieed Petrochemical Holding, Investment Holding Group, Qatar Insurance, Barwa, Mazaya Qatar, QNB, Al Khaliji, Qatar First Bank, Alijarah Holding and Mannai Corporation; even as Inma Holding, Qatari German Company for Medical Devices, Qatari Investors Group, Qatar Electricity and Water, Al Khaleej Takaful, Vodafone Qatar and Nakilat were among the losers.
Local retail investors’ net buying increased significantly to QR72.53mn against QR0.73mn on July 14.
The Gulf institutions turned net buyers to the tune of QR0.21mn compared with net sellers of QR6.97mn on Tuesday.
The Gulf individuals’ net selling declined perceptibly to QR1.49mn against QR2.2mn the previous day.
Foreign individuals’ net profit booking decreased marginally to QR1.13mn compared to QR1.41mn on July 14.
However, Arab individuals’ net selling grew substantially to QR60.42mn against QR0.86mn on Tuesday.
Domestic funds were net sellers to the extent of QR12.47mn compared with net buyers of QR0.79mn the previous day.
Foreign institutions’ net buying weakened considerably to QR2.69mn against QR9.78mn on July 14.
The Arab institutions continued to have no major exposure.
Total trade volumes rose 67% to 630.4mn shares, value by 16% to QR708.33mn and transactions by less than 1% to 12,530.
The industrials sector’s trade volume more than doubled to 348.01mn equities and value also more than doubled to QR272.36mn on 35% increase in deals to 4,507.
The real estate sector’s trade volume more than doubled to 101.13mn stocks and value almost doubled to QR137.98mn on 55% jump in transactions to 1,976.
The banks and financial services sector saw 8% growth in trade volume to 85.32n shares but on 25% decline in value to QR144.07mn and 10% in deals to 2,854.
However, the telecom sector’s trade volume plummeted 61% to 10.47mn equities, value by 56% to QR16.59mn and transactions by 42% to 483.
There was 57% plunge in the insurance sector’s trade volume to 6.6mn stocks, 57% in value to QR12.39mn and 66% in deals to 226.
The transport sector’s trade volume tanked 49% to 3.48mn shares, value by 47% to QR10.51mn and transactions by 40% to 341.
The consumer goods and services sector reported 7% shrinkage in trade volume to 75.39mn equities, 10% in value to QR114.44mn and 20% in deals to 2,143.
In the debt market, there was no trading of sovereign bonds and treasury bills.