Islamic equities on Tuesday continued to witness higher demand than the conventional ones on the Qatar Stock Exchange, which overall gained 106 points to surpass 9,500 levels with an ease.
Domestic funds’ increased net buying and the Gulf institutions’ bullish grip drove the 20-stock Qatar Index up 1.12% to 9,523.63 points, although it touched a high of 9,578 points intraday.
The industrials, consumer goods and real estate sectors were seen outperforming the market, whose year-to-date losses were at little over 8%.
Market capitalisation saw more than QR4bn or 0.8% increase to QR555.14bn, mainly owing to large and midcap segments.
A total of 119,511 exchange traded funds (both QATR and QETF) valued at QR642,370 changed hands across 20 transactions; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the increase on the market, where the banking and industrials sectors together accounted for about 59% of the total trading volume.
The Total Return Index grew 1.12% to 18,038.86 points, All Share Index by 0.81% to 2,966.63 points and Al Rayan Islamic Index (Price) by 1.47% to 2,175.57 points.
The industrials index soared 2.67%, consumer goods and services (1.9%), realty (1.15%), transport (0.85%). telecom (0.69%) and banks and financial services (0.17%); while insurance tanked 1.38%.
More than 68% of the traded constituents extended gains with movers being Alijarah Holding, Industries Qatar, Woqod, Qatari Investors Group, QIIB, Commercial Bank, Widam Food, Al Meera, Qatar National Cement, Mesaieed Petrochemical Holding, Qamco, Doha Insurance, Qatar Islamic Insurance, Mazaya Qatar and Nakilat; even as Inma Holding, Qatar General Insurance and Reinsurance, Salam International Investment, Mannai Corporation and Qatar Oman Investment were among the losers.
Domestic funds’ net buying increased substantially to QR34.96mn compared to QR10.17mn on August 10.
The Gulf funds turned net buyers to the tune of QR12.62mn against net sellers of QR0.26mn on Monday.
The Gulf individuals’ net buying grew marginally to QR0.78mn compared to QR0.09mn the previous day.
However, Qataris’ net selling strengthened considerably to QR28.52mn against QR10.17mn on August 10.
Foreign individuals were net sellers to the extent of QR9.62mn compared with net buyers of QR0.78mn on Monday.
Foreign funds’ net profit booking shot up significantly to QR7.67mn against QR0.17mn the previous day.
The Arab individuals’ net selling increased noticeably to QR2.61mn compared to QR0.43mn on August 10.
The Arab institutions continued to have no major exposure.
Total trade volumes rose 27% to 310.21mn shares, value by 29% to QR555.86mn and transactions by 17% to 11,688.
The banks and financial services sector’s trade volume doubled to 94.99mn equities, value by soared 48% to QR196.91mn and deals by 21% to 3,281.
There was 69% surge in the real estate sector’s trade volume to 54.59mn stocks, 70% in value to QR65.21mn and 39% in transactions to 1,958.
The telecom sector’s trade volume soared 26% to 6.49mn shares, value by 29% to QR18.86mn and deals by 38% to 799.
The transport sector reported 13% expansion in trade volume to 6.78mn equities but on 16% decline in value to QR21.22mn despite 68% higher transactions at 688.
The industrials sector’s trade volume shot up 11% to 86.97mn stocks, value by 92% to QR133.87mn and deals by 28% to 2,659.
The insurance sector saw 8% jump in trade volume to 6.58mn shares but on 12% shrinkage in value to QR11.69mn and 56% in transactions to 271.
However, the consumer goods and services sector’s trade volume shrank 22% to 53.8mn equities, value by 21% to QR108.09mn and deals by 9% to 2,032.
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