Foreign institutions’ strong buying interests Monday lifted the Qatar Stock Exchange by about 56 points, amidst weakened trading volumes.
The insurance, banking and consumer goods counters particularly witnessed robust demand as the 20-stock Qatar Index settled 0.56% higher at 10,056.95 points, although it touched an intraday low of 10,007 points.
The Gulf funds and individuals were also seen bullish on the market, whose year-to-date losses were trimmed to 3.54%.
Market capitalisation saw about QR4bn or 0.66% increase to QR597.43bn, mainly owing to mid and small cap segments.
A total of 29,000 exchange traded funds (both Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR255,030 changed hands across five transactions; while on the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the decline on the bourse, where the industrials sector alone accounted for more than 48% of the total trading volume.
The Total Return Index gained 0.56% to 19,334.15 points, All Share Index by 0.63% to 3,093.22 points and Al Rayan Islamic Index (Price) by 0.36% to 2,367.83 points.
The insurance index shot up 2.5%, banks and financial services (0.72%), consumer goods and services (0.69%), industrials (0.41%), realty (0.4%) and telecom (0.1%); while transport declined 0.22%.
More than 54% of the traded constituents extended gains with major movers being Qatar General Insurance and Reinsurance, Ahlibank Qatar, Qatar Industrial Manufacturing, Qatar Insurance, Woqod, QNB, QIIB, Industries Qatar and United Development Company; even as Qatar First Bank, Medicare Group, Investment Holding Group, Alijarah Holding and Dlala were among the losers.
Foreign funds were net buyers to the tune of QR59.11mn compared with net sellers of QR4.61mn on October 11.
The Gulf funds turned net buyers to the extent of QR6.37mn against net sellers of QR9.12mn the previous day.
The Gulf individuals were also net buyers to the tune of QR4.97mn compared with net sellers of QR1.01mn on Sunday.
However, local individuals turned net sellers to the extent of QR41.11mn against net buyers of QR0.05mn on October 11.
Domestic funds were also net sellers to the tune of QR21.29mn compared with net buyers of QR2.07mn the previous day.
The Arab individuals turned net profit takers to the extent of QR4.13mn against net buyers of QR12.84mn on Sunday.
Foreign individuals’ net selling increased considerably to QR3.96mn compared to QR0.21mn on October 11.
The Arab institutions had no major exposure against net profit takers to the extent of QR0.02mn the previous day.
Total trade volumes fell 44% to 228.77mn shares, value by 21% to QR421.61mn and transactions by 14% to 8,443.
The consumer goods and services sector’s trade volume plummeted 78% to 32.39mn equities, value by 58% to QR57.19mn and deals by 35% to 1,364.
There was 46% plunge in the real estate sector’s trade volume to 26.22mn stocks, 48% in value to QR48.62mn and 24% in transactions to 1,192.
The industrials sector’s trade volume tanked 29% to 110.71mn shares, value by 18% to QR113.12mn and deals by 15% to 2,237.
The insurance sector reported 20% shrinkage in trade volume to 7.07mn equities, 17% in value to QR15.42mn and 2% in transactions to 355.
The banks and financial services sector’s trade volume shrank 15% to 35.84mn stocks, while value grew 22% to QR142.06mn and deals by less than 1% to 2,428.
However, the transport sector’s trade volume more than doubled to 11.63mn shares and value soared 86% to QR32.77mn; whereas transactions were down 4% to 371.
The telecom sector witnessed a 36% surge in trade volume to 4.91mn equities, 50% in value to QR12.43mn and 41% in deals to 496.