The domestic funds’ increased buying interests and the bullish outlook of the Gulf individuals on Tuesday lifted the Qatar Stock Exchange more than 44 points and its key barometer surpassed 10,500 levels.
The telecom, industrials, real estate and transport counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.42% higher at 10,517.93 points, having touched an intraday high of 10,553 points.
The Arab institutions’ net buying were seen increasing, albeit at lower levels, in the bourse, whose year-to-date gains were at 0.79%.
The weakened net profit booking of local retail investors also had its role in sustaining the positive sentiments in the market, whose capitalisation saw more than QR2bn or 0.48% jump to QR609.66bn on the back of midcap segments.
The Gulf institutions were seen bearish and there was weakened net buying by foreign funds in the bourse, which saw about 47% of the traded constituents extended gains.
Trade turnover and volumes were on the increase in the market, where the industrials and banking sectors together accounted for more than 65% of the trading volume.
A total of 415,906 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR1.28mn changed hands across 51 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 0.42% to 20,293.37 points, All Share Index by 0.29% to 3,237.4 points and Al Rayan Islamic Index (Price) by 0.4% to 2,398.18 points.
The telecom sector index shot up 1.4%, industrials (1.33%), realty (1.08%) and transport (0.67%); while insurance declined 0.51%, consumer goods and services (0.4%) and banks and financial services (0.13%).
Major gainers included Dlala, Widam Food, Qatar First Bank, Industries Qatar, QLM, Qatari Investors Group, Qatar Electricity and Water, Investment Holding Group, Barwa, Ezdan, Vodafone Qatar and Ooredoo; even as Qatar Islamic Insurance, Al Khaleej Takaful, Qatar Industrial Manufacturing, Qatar Oman Investment, Al Khaliji, Baladna and Nakilat were among the losers.
The domestic funds’ net buying grew considerably to QR14.44mn compared to QR5.29mn the previous day.
The Gulf individuals turned net buyers to the tune of QR3.5mn against net sellers of QR1.33mn on February 1.
The Arab institutions’ net buying rose marginally to QR0.21mn compared to QR0.18mn on Monday.
Local retail investors’ net selling declined significantly to QR27.71mn against QR50.54mn the previous day.
However, the Gulf funds were net sellers to the extent of QR10.65mn compared with net buyers of QR10.95mn on February 1.
The foreign individuals turned net profit takers to the tune of QR0.67mn against net buyers of QR10.76mn on Monday.
The foreign institutions’ net buying eased markedly to QR18.19mn compared to QR21.9mn the previous day.
The Arab individuals’ net buying shrank marginally to QR2.65mn against QR2.85mn on February 1.
Total trade volume rose 38% to 176.89mn shares, value by 11% to QR421.12mn and transactions by 9% to 10,147.
The banks and financial services sector’s trade volume more than doubled to 64.5mn equities, value was up 5% to QR200.27mn and deals by 9% to 4,474.
There was 56% surge in the realty sector’s trade volume to 29.91mn stocks, 52% in value to QR55.64mn and 14% in transactions to 1,254.
The consumer goods and services sector’s trade volume shot up 14% to 17.21mn shares and value by 11% to QR37.15mn, while deals were down less than 1% to 826.
The industrials sector reported 11% expansion in trade volume to 50.49mn equities, 19% in value to QR78.59mn and 13% in transactions to 2,109.
The telecom sector’s trade volume was up 3% to 7mn stocks, value by 17% to QR17.77mn and deals by 6% to 609.
However, the market witnessed 37% plunge in the transport sector’s trade volume to 3.63mn shares, 23% in value to QR18.02mn and 16% in transactions to 482.
The insurance sector saw 10% decline in trade volume to 4.15mn equities and 9% in value to QR13.68mn but on 41% increase in deals to 393.
