A higher than average demand in the consumer goods, telecom and insurance counters on Wednesday lifted the Qatar Stock Exchange 39 points to surpass the 9,800 levels.

The Gulf funds turned bullish and there was increased net buying from the Gulf individuals as the 20-stock Qatar Index settled 0.39% higher at 9,813.78 points.

Domestic funds’ weakened net selling also helped the market, whose year-to-date losses were at 5.87%.Market capitalisation saw about QR3bn or 0.48% increase to QR570.07bn, mainly owing to small and midcap segments.

A total of 111,087 exchange traded funds (both QATR and QETF) valued at QR321,501 changed hands across nine 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 banking and industrials sectors together accounted for about 63% of the total trading volume.

The Total Return Index gained 0.39% to 18,866.67 points, All Share Index by 0.34% to 3,051.67 points and Al Rayan Islamic Index (Price) by 0.39% to 2,243.21 points.

The consumer goods and services sector index shot up 1.25%, telecom (0.88%), insurance (0.42%), banks and financial services (0.31%), realty (0.3%), transport (0.09%) and industrials (0.03%).More than 65% of the traded constituents extended gains with major movers being Qatar Oman Investment, Ezdan, Qatar Islamic Insurance, Vodafone Qatar, Alijarah Holding, Salam International Investment, Woqod, Al Meera, Qatar Industrial Manufacturing and Qatar National Cement.

Nevertheless, Aamal Company, Gulf Warehousing, Qatar German Company for Medical Devices, Qatar General Insurance and Reinsurance, United Development Company and Gulf Warehousing were among the losers.

The Gulf funds were net buyers to the tune of QR1.84mn compared with net sellers of QR13.08mn on August 18.

The Gulf individuals’ net buying increased markedly to QR0.76mn against QR0.17mn the previous day.

Domestic funds’ net selling declined considerably to QR7.79mn compared to QR14.48mn on Tuesday.

The Arab individuals’ net profit booking shrank noticeably to QR0.92mn against QR1.23mn on August 18.

However, local retail investors’ net selling grew perceptibly to QR22.82mn compared to QR16.95mn the previous day.

Foreign individuals’ net selling shot up significantly to QR7.57mn against QR2.64mn on Tuesday.

The Arab funds turned net profit takers to the extent of QR1.96mn compared with net buyers of QR0.13mn on August 18.

Foreign institutions’ net buying eased substantially to QR38.4mn against QR48.04mn the previous day.

Total trade volumes fell 8% to 302.77mn shares, value by 4% to QR540.84mn and transactions by 10% to 11,113.

The transport sector’s trade volume plummeted 85% to 2.6mn equities, value by 86% to QR8.81mn and deals by 59% to 460.

There was 59% plunge in the insurance sector’s trade volume to 4.29mn stocks and 51% in value to QR10.07mn but on flat transactions at 357.

The consumer goods and services sector’s trade volume tanked 30% to 68.83mn shares, value by 9% to QR92.16mn and deals by 17% to 1,962.

The telecom sector reported 15% contraction in trade volume to 5.64mn equities, 23% in value to QR12.77mn and 30% in transactions to 580.

The industrials sector’s trade volume was down 14% to 88.13mn stocks, while value rose 14% to QR112.31mn despite 10% lower deals at 2,711.

However, the banks and financial services sector saw 41% expansion in trade volume to 101.26mn shares, 13% in value to QR251.84mn and 3% in transactions to 3,707.

The real estate sector’s trade volume soared 31% to 32.03mn equities, value by 31% to QR52.89mn and deals by 23% to 1,336.

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