Domestic and foreign institutions turned bullish on the Qatar Stock Exchange, which yesterday gained 62 points to inch near the 10,500 levels, taking a cue from weekend gains in international markets on reports of fresh US stimulus.
The telecom, industrials and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.59% higher at 10,493.05 points.
Arab individuals were seen marginally bullish in the market, which has reported year-to-date gains of 0.55%.
About 57% of the traded constituents extended gains in the bourse, whose capitalisation saw more than QR3bn, or 0.54%, increase to QR606.83bn, mainly owing to midcap segments.
The Islamic index was seen gaining slower than the other indices in the bourse, which saw the foreign individuals continued to be net sellers but with lesser intensity.
Trade turnover and volumes were on the decline in the market, where the banking, consumer goods and industrials sectors together accounted for more than 74% of the trading volume.
A total of 320,870 exchange traded funds (Masraf Al Rayan-sponsored QATR) valued at QR768,398 changed hands across 42 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 0.59% to 20,245.36 points, the All Share Index by 0.58% to 3,229.95 points and the Al Rayan Islamic Index (Price) by 0.41% to 2,395.99 points.
The real estate sector index shot up 0.99%, followed by industrials (0.97%), consumer goods and services (0.9%), banks and financial services (0.52%) and transport (0.01%); while insurance and telecom declined 0.17% and 0.06% respectively.
Major gainers included Doha Bank, Zad Holding, Dlala, Industries Qatar, United Development Company, Qatari Investors Group, Commercial Bank, QNB, Woqod, Mannai Corporation and Gulf Warehousing; even as Qatari German Medical Devices, Al Khaleej Takaful, Inma Holding, Salam International Investment and Qatar Industrial Manufacturing were among the losers.
Domestic funds turned net buyers to the tune of QR17.34mn compared with net sellers of QR1.26mn last Thursday.
Foreign institutions were net buyers to the extent of QR13.14mn against net sellers of QR19.98mn on February 4.
Arab individuals turned net buyers to the tune of QR0.07mn compared with net sellers of QR1.77mn the previous trading day.
Foreign individuals’ net profit booking eased perceptibly to QR0.24mn against QR0.51mn last Thursday.
However, local retail investors turned net sellers to the extent of QR20.16mn compared with net buyers of QR21.12mn on February 3.
Gulf institutions were net sellers to the tune of QR8.91mn against net buyers of QR0.86mn the previous trading day.
Gulf individuals turned net profit takers to the extent of QR1.25mn compared with net buyers of QR1.41mn last Thursday.
Arab institutions had no major exposure against net buyers to the tune of QR0.9mn on February 4.
Total trade volume fell 40% to 95.84mn shares, value by 40% to QR235mn and transactions by 38% to 5,408.
The banks and financial services sector’s trade volume plummeted 50% to 35.85mn equities, value by 49% to QR107.41mn and deals by 27% to 2,172.
There was a 45% plunge in the telecom sector’s trade volume to 4.13mn stocks but on a 6% jump in value to QR19.03mn despite 47% lower transactions at 369.
The transport sector’s trade volume tanked 44% to 2.53mn shares, value by 32% to QR11.91mn and deals by 71% to 174.
The industrials sector reported a 32% shrinkage in trade volume to 17.6mn equities, 29% in value to QR26.13mn 30% in transactions to 904.
The consumer goods and services sector’s trade volume shrank 31% to 17.81mn stocks, value by 41% to QR37.62mn and deals by 32% to 811.
The realty sector saw a 31% contraction in trade volume to 15.41mn shares, 33% in value to QR25.3mn and 54% in transactions to 714.
The insurance sector’s trade volume was down 2% to 2.49mn equities, while shot up 18% to QR7.59mn despite 31% lower deals at 264.