Foreign institutions’ substantially increased net buying interest yesterday lifted the Qatar Stock Exchange 93 points and its key index scaled 10,200 levels.
The banking, consumer goods and industrials counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.92% higher at 10,212.58 points, having touched an intraday low of 10,063 points.
Gulf institutions were seen net buyers in the market, whose year-to-date losses were at 2.04%.
Islamic stocks were seen gaining faster than the main barometer in the bourse, which saw more than 62% of the traded constituents extend gains to investors.
Market capitalisation saw more than QR6bn, or 1.09%, increase to QR594.51bn, mainly owing to large and small cap segments.
A total of 334,260 exchange traded funds (both Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued together at QR1.8mn changed hands across 21 deals; while in the debt market, there was a total of 38,65- sovereign bonds valued at QR2.39bn trade across five deals.
Trade turnover and volumes were on the decline in the bourse, where the banks, industrials and realty sectors together accounted for more than 70% of the total trading volume.
The Total Return Index gained 0.92% to 19,633.34 points, the Al Rayan Islamic Index (Price) by 0.47% to 2,334.13 points and the All Share Index by 1.17% to 3,163.3 points.
The banks and financial services index shot up 1.57%, consumer goods and services (1.11%), industrials (0.94%), insurance (0.81%), real estate (0.34%) and telecom (0.16%); while transport declined 0.24%.
Major gainers included Qatar Industrial Manufacturing, QNB, Qatar Electricity and Water, Mannai Corporation, Al Khaliji, Inma Holding, Woqod, Industries Qatar, Barwa, Qatar Insurance and Qatari Investors Group; whereas Ezdan, Qamco, Alijarah Holding, Qatar Islamic Insurance and Gulf International Services were among the losers.
Foreign funds’ net buying increased substantially to QR106.56mn compared to QR61.69mn on November 11.
Gulf funds turned net buyers to the tune of QR1.17mn against net sellers of QR0.77mn on Wednesday.
Qatari individuals’ net selling declined marginally to QR92.13mn compared to QR94.54mn the previous day.
However, foreign individuals’ net selling grew noticeably to QR14.87mn against QR3.36mn on November 11.
Arab individuals turned net sellers to the extent of QR9.6mn compared with net buyers of QR4.89mn on Wednesday.
Domestic funds’ net buying decreased considerably to QR8.27mn against QR28.2mn the previous day.
Gulf individuals’ net buying eased perceptibly to QR0.5mn compared to QR1.18mn on November 11.
Arab institutions’ net buying weakened markedly to QR0.11mn against QR2.65mn on Wednesday.
Total trade volumes fell 39% to 169.87mn shares, value by 6% to QR554.98mn and transactions by 12% to 10,174.
The transport sector’s trade volume plummeted 66% to 23.46mn equities, value by 65% to QR72.82mn and deals by 31% to 1,746.
The real estate sector reported a 46% plunge in trade volume to 37.65mn stocks, 42% in value to QR58.54mn and 20% in transactions to 1,543.
The consumer goods and services sector’s trade volume tanked 46% to 13.89mn shares, while value gained 66% to QR65.23mn despite 1% lower deals at 984.
There was a 34% shrinkage in the industrials sector’s trade volume to 40.34mn equities, 2% in value to QR73.73mn and 31% in transactions to 1,524.
The telecom sector’s trade volume declined 3% to 4.88mn stocks, while value shot up 49% to QR14.59mn despite 13% lower deals at 399.
The insurance sector saw a 1% dip in trade volume to 8.03mn shares but on 4% growth in value to QR15.12mn and 18% in transactions to 246.
However, the banks and financial services sector’s trade volume was up 4% to 41.63mn equities, value by 79% to QR254.94mn and deals by 16% to 3,732.