The Qatar Stock Exchange on Tuesday witnessed a sustained overall bullish overhang and its key index gained about 80 points to inch near the 9,800 levels.
The insurance counter witnessed substantially higher than average demand as the 20-stock Qatar Index settled 0.82% higher at 9,775.28 points.
Islamic stocks were seen gaining slower than the other indices in the market, whose year-to-date losses were at 6.24%.
Market capitalisation saw more than QR2bn or 0.37% increase to QR567.35bn, mainly owing to midcap segments.
A total of 1.07mn exchange traded funds (both QATR and QETF) valued at QR2.44mn changed hands across 12 transactions; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the decline in the market, where the industrials and consumer goods sectors together accounted for about 61% of the total trading volume.
The Total Return Index gained 0.82% to 18,792.65 points, All Share Index by 0.69% to 3,041.31 points and Al Rayan Islamic Index (Price) by 0.61% to 2,234.47 points.
The insurance sector index shot up 3.07%, consumer goods and services (0.98%), banks and financial services (0.85%), real estate (0.41%), industrials (0.24%) and telecom (0.1%); while transport declined 0.71%.
About 57% of the traded constituents extended gains with major movers being Qatar Insurance, Qatar General Insurance and Reinsurance, al khaliji, Commercial Bank, Masraf Al Rayan, QIIB, Qatar First Bank, Woqod, Baladna, Qatar Electricity and Water, Gulf International Services, Qamco and Barwa.
Nevertheless, Ezdan, Aamal Company, Islamic Holding Group, Nakilat, Vodafone Qatar, Alijarah Holding and Gulf Warehousing were among the losers.
Domestic funds’ net selling declined considerably to QR14.48mn compared to QR35.23mn on August 17.
Local retail investors’ net selling eased noticeably to QR16.95mn against QR20.99mn the previous day.
However, Gulf funds were net sellers to the tune of QR13.08mn compared with net buyers of QR2.18mn on Monday.
Foreign individuals turned net sellers to the extent of QR2.64mn against net buyers of QR1.61mn on August 17.
The Arab individuals’ net profit booking grew marginally to QR1.23mn compared to QR1.19mn the previous day.
The Gulf individuals’ net buying weakened markedly to QR0.17mn against QR3.58mn on Monday.
Foreign institutions’ net buying eased to QR48.04mn compared to QR49.83mn on August 17.
The Arab funds’ net buying shrank slightly to QR0.13mn against QR0.16mn the previous day.
Total trade volumes fell 24% to 330.84mn shares, value by 20% to QR561.23mn and transactions by 2% to 12,375.
The transport sector’s trade volume plummeted 48% to 17.32mn equities and value by 57% to QR61.83mn, while deals were up 9% to 1,132.
There was 44% plunge in the industrials sector’s trade volume to 102.16mn stocks, 37% in value to QR98.62mn and 19% in transactions to 3,024.
The real estate sector’s trade volume tanked 39% to 24.36mn shares, value by 11% to QR40.23mn and deals by 6% to 1,090.
The insurance sector reported 32% shrinkage in trade volume to 10.47mn equities, 29% in value to QR20.35mn and 8% in transactions to 357.
The telecom sector’s trade volume contracted 21% to 6.6mn stocks and value by 4% to QR16.69mn, while deals shot up 43% to 824.
However, the banks and financial services sector saw 16% expansion in trade volume to 71.81mn shares, 16% in value to QR222.05mn and 13% in transactions to 3,590.
The consumer goods and services sector’s trade volume was up 2% to 98.12mn equities, whereas value shrank 15% to QR101.45mn and deals by 6% to 2,358.
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