Foreign institutions’ increased net buying interests Tuesday lifted the Qatar Stock Exchange above 10,000 levels.
The telecom, industrials, insurance and consumer goods witnessed higher than average demand as the 20-stock Qatar Index gained about 60 points or 0.6% to 10,016.28 points, although it touched an intraday high of 10,031.
Local retail investors’ substantially weakened net selling also helped improve the sentiments in the market, whose year-to-date losses were at 3.93%.
Market capitalisation saw more than QR4bn or 0.76% increase to QR594.4bn, mainly owing to large and small cap segments.
A total of 91,500 exchange traded funds (both Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR381,394 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 increase in the bourse, where the real estate and industrials sectors together accounted for about 67% of the total trading volume.
The Total Return Index grew 0.6% to 19,255.96 points, Al Rayan Islamic Index (Price) by 0.75% to 2,358.35 points and All Share Index by 0.79% to 3,099.6 points.
The telecom index soared 2.8%, industrials (1.11%), insurance (0.83%), consumer goods and services (0.75%), realty (0.67%), transport (0.64%) and banks and financial services (0.58%).
More than 68% of the traded constituents extended gains with major movers being Qatar First Bank, Alijarah Holding, Industries Qatar, Aamal Company, Qamco, Qatar National Cement, Ooredoo, Qatar General Insurance and Reinsurance, Mazaya Qatar, Vodafone Qatar, Commercial Bank, Doha Bank, Dlala, Medicare Group and Mannai Corporation; even as Gulf International Services, Qatar German Company for Medical Devices, al Khaleej Takaful, Inma Holding and Qatar Islamic Bank were among the losers.
Foreign institutions’ net buying increased substantially to QR26.67mn compared to QR5.3mn on October 5.
Foreign individuals’ net buying also grew perceptibly to QR5.45mn against QR0.41mn the previous day.
Local individuals’ net selling declined significantly to QR5.28mn compared to QR54.4mn on Monday.
The Gulf individuals’ net profit booking eased marginally to QR1.68mn against QR2.38mn on October 5.
However, the Arab individuals turned net sellers to the tune of QR15.77mn compared with net buyers of QR5.5mn the previous day.
Domestic funds were also net sellers to the extent of QR9.9mn against net buyers of QR44.07mn on Monday.
The Arab funds were net profit takers to the tune of QR0.03mn compared with no major exposure on October 5.
The Gulf institutions’ net buying weakened noticeably to QR0.5mn against QR1.49mn the previous day.
Total trade volumes rose 63% to 508.51mn shares, value by 24% to QR838.78mn and transactions by 40% to 14,666.
The telecom sector’s trade volume almost quadrupled to 37.13mn equities and value also almost quadrupled to QR69.18mn on more than doubled deals to 1,737.
The industrials sector’s trade volume almost tripled to 138.11mn stocks and value more than doubled to QR139.31mn on almost doubled transactions to 3,513.
The transport sector’s trade volume more than doubled to 6.98mn shares and value more than tripled to QR30.22mn on more than doubled deals to 638.
The real estate sector’s trade volume soared 53% to 200.21mn equities, value by 30% to QR336.65mn and transactions by 22% to 3,526.
The consumer goods and services sector reported 40% surge in trade volume to 29.74mn stocks but on 19% decline in value to QR52.91mn despite 21% higher deals at 1,536.
However, the insurance sector’s trade volume tanked 39% to 7.27mn shares, value by 38% to QR15.56mn and transactions by 21% to 386.
The banks and financial services sector saw less than 1% fall in trade volume to 89.07 equities and 16% in value to QR194.97mn but on 10% jump in deals to 3,330.