A strong penchant for the Islamic equities yesterday lifted the Qatar Stock Exchange above the 10,300 levels.
The industrials and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index settled 43 points, or 0.42% higher, at 10,303.89 points, although it touched an intraday high of 10,377 points.
Foreign and domestic institutions were seen bullish on the market, whose year-to-date losses were at 1.17%.
More than 51% of the stocks extended gains to investors in the bourse, which, however, saw local and Arab retail investors turn bearish.
Market capitalisation saw QR85mn or 0.14% rise to QR592.58bn, mainly owing to microcap segments.
A total of 795,879 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued together at QR2.06mn changed hands across 82 deals; while in 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 and transport sectors together accounted for about 52% of the total trading volume.
The Total Return Index gained 0.42% to 19,808.88 points, All Share Index by 0.28% to 3,168.23 points and Al Rayan Islamic Index (Price) by 0.94% to 2,351.38 points.
The industrials index soared 1.69%, consumer goods and services (0.8%), telecom (0.47%) and banks and financial services (0.23%); whereas transport tanked 2.83%, insurance (1.7%) and real estate (0.07%).
Major gainers included Industries Qatar, Qamco, Gulf International Services, Al Meera, QIIB, Al Khaliji, Dlala, Qatar Electricity and Water, Barwa and Milaha; even as Qatar General Insurance and Reinsurance, Nakilat, Mazaya Qatar, Ezdan, Qatari German Medical Devices, Medicare Group and Mannai Corporation were among the losers.
Foreign funds turned net buyers to the tune of QR36.87mn compared with net sellers of QR0.41mn on November 24. Domestic institutions were also net buyers to the extent of QR12.14mn against net sellers of QR19.01mn on Tuesday.
Foreign individuals’ net selling declined perceptibly to QR1.01mn compared to QR3.01mn the previous day.
However, Qataris turned net sellers to the tune of QR40.15mn against net buyers of QR10.45mn on November 24.
The Arab individuals turned net sellers to the extent of QR7.03mn compared with net buyers of QR4.25mn on Tuesday.
The Gulf individuals were net profit takers to the tune of QR1.62mn against net buyers of QR1.12mn the previous day.
The Arab institutions turned net sellers to the extent of QR0.04mn compared with no major exposure on November 24.
The Gulf institutions’ net buying weakened noticeably to QR0.86mn against QR6.61mn on Tuesday.
Total trade volumes fell 36% to 200mn shares, value by 14% to QR505.71mn and transactions by 14% to 11,253.
There was 66% plunge in the real estate sector’s trade volume to 35.43mn equities, 64% in value to QR61.11mn and 61% in deals to 1,326.
The telecom sector’s trade volume plummeted 54% to 2.17mn stocks, value by 50% to QR6.24mn and transactions by 5% to 445.
The consumer goods and services sector reported 40% shrinkage in trade volume to 23.35mn shares, 9% in value to QR52.03mn and 13% in deals to 1,211. The banks and financial services sector’s trade volume tanked 32% to 32.79mn equities and value by 11% to QR133.37mn; whereas transactions were up 8% to 3,321.
The industrials sector saw 29% contraction in trade volume to 59.69mn stocks but on 3% growth in value to QR93.95mn and 2% in deals to 2,386.
The insurance sector’s trade volume shrank 20% to 2.84mn shares, value by 23% to QR7.03mn and transactions by 13% to 155.
However, the market witnessed 51% surge in the transport sector’s trade volume to 43.72mn equities, 50% in value to QR151.99mn and 9% in deals to 2,409.
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