Investors’ stronger penchant for Islamic equities was visible on the Qatar Stock Exchange, which on Tuesday gained 25 points; but failed to break the break the 9,400 resistance levels.

Local retail investors were increasingly net buyers and foreign individuals turned bullish as the 20-stock Qatar Index settled 0.26% higher at 9,396.4 points, although it touched a low of 9,343 points intraday.

The industrials, consumer goods and telecom counters witnessed higher-than-average demand on the bourse, whose year-to-date losses were trimmed to 9.87%.Market capitalisation saw about QR3bn or 0.48% increase to QR549.48bn mainly owing to midcap segments.

Trade turnover and volumes were on the increase on the market, where the industrials and consumer goods sectors together accounted for about 61% of the total trading volume.

The Total Return Index rose 0.26% to 18,064.27 points, Al Rayan Islamic Index (Price) by 0.51% to 2,120.79 points and All Share Index by 0.3% to 2,933.76 points.

The industrials index soared 1.1%, consume goods and services (0.71%), telecom (0.66%), realty (0.24%), insurance (0.13%) and banks and financial services (0.08%); while transport declined 0.61%.About 57% of the traded constituents extended gains with major movers being Industries Qatar, Inma Holding, Dlala, Qatari German Company for Medical Devices, Qatari Investors Group, Al Khaleej Takaful.

Ezdan and Vodafone Qatar; even as Doha Bank, Qatar Industrial Manufacturing, Qamco, Milaha and Gulf Warehousing were among the losers.

Local retail investors’ net buying increased considerably to QR11.81mn against QR0.24mn on July 20.

Foreign individuals turned net buyers to the tune of QR1.87mn compared with net sellers of QR1.63mn the previous day.

The Arab institutions were also net buyers to the extent of QR0.08mn against no major exposure on Monday.

Domestic funds’ net selling declined significantly to QR17.07mn compared to QR26.68mn on July 20.

The Gulf institutions’ net selling weakened noticeably to QR4.68mn against QR10.29mn the previous day.

However, the Arab individuals turned net sellers to the tune of QR4.74mn compared with net buyers of QR3.27mn on Monday.

The Gulf individuals’ net profit booking grew perceptibly to QR1.4mn against QR0.24mn on July 20.

Foreign funds’ net buying weakened substantially to QR14.15mn compared to QR36.67mn the previous day.

Total trade volumes rose 22% to 286.83mn shares, value by 22% to QR584.61mn and transactions by 28% to 11,899.

The transport sector’s trade volume soared 62% to 11.87mn equities and value by 77% to QR35.82mn on more than tripled deals to 908.

The consumer goods and services sector saw 57% surge in trade volume to 76.9mn stocks, 93% in value to QR176.6mn and 78% in transactions to 2,904.

The telecom sector’s trade volume shot up 56% to 5.2mn shares, value by 78% to QR12.78mn and deals by 26% to 434.

There was 32% increase in the industrials sector’s trade volume to 96.78mn equities, 36% in value to QR123.09mn and 20% in transactions to 2,702.

The real estate sector’s trade volume was up 8% to 41.83mn stocks, whereas value fell 6% to QR60.52mn and deals by 11% to 1,405.

However, the insurance sector reported 55% plunge in trade volume to 5.05mn shares, 56% in value to QR9.32mn and 49% in transactions to 347.

The banks and financial services sector’s trade volume was down 4% to 49.2mn equities and value by 10% to QR166.49mn, while deals swelled 23% to 3,199.

In the debt market, there was no trading of sovereign bonds and treasury bills.

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