The Qatar Stock Exchange on Sunday opened the week on a stronger note, mainly on the back of strong buying interests of the Arab individuals and the Gulf funds.
A higher than average demand in the industrials and telecom counters led the 20-stock Qatar Index gain more than 15 points or 0.14% to 10,860.11 points, recovering from an intraday low of 10,814 points.
The Islamic index was seen gaining faster than the other indices in the bourse, whose year-to-date gains were at 4.06%.
The domestic funds’ weakened net selling also had its influence in the market, whose capitalisation saw more than QR2bn or 0.34% jump to QR629.45bn, mainly owing to small and midcap segments.
Four of the seven sectors were nevertheless under selling pressure in the bourse, where the Gulf individuals and foreign funds turned net profit takers.
More than 55% of the traded constituents were in the red in the market, which saw local retail investors increasingly into net selling.
The Arab funds were also increasingly net sellers in the bourse, which saw a total of 7,045 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR18,547 changed hands across four deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index was up 0.14% to 21,498.24 points, All Share Index by 0.07% to 3,431.93 points and Al Rayan Islamic Index (Price) by 0.24% to 2,528.52 points.
The industrials sector index shot up 1.47% and telecom 0.25%; whereas the insurance declined 0.76%, consumer goods and services (0.36%), banks and financial services (0.31%), transport (0.24%) and realty (0.03%).
Major movers included Ezdan, Industries Qatar, QLM, Gulf International Services, Mannai Corporation, Qatari Investors Group and Mesaieed Petrochemical Holding.
Nevertheless, Ahlibank Qatar, Investment Holding Group, Inma Holding, Qatar Industrial Manufacturing, Al Khaleej Takaful, Qatari German Medical Devices and Qatar Insurance were among the losers.
The Arab individuals’ net buying increased markedly to QR14.07mn compared to QR0.62mn on April 22.
The Gulf institutions’ net buying increased perceptibly to QR8.46mn against QR6.19mn the previous day.
The domestic funds’ net profit booking fell considerably to QR9.82mn compared to QR49.14mn last Thursday.
However, the Gulf individuals turned net sellers to the tune of QR6.86mn compared with net buyers of QR1.51mn on April 22.
Local retail investors’ net profit booking increased notably to QR6.86mn against QR4mn the previous day.
The Arab funds’ net selling expanded noticeably to QR1.7mn compared to QR0.3mn last Thursday.
The foreign institutions were net sellers to the extent of QR0.39mn against net buyers of QR38.85mn on April 22.
The foreign individuals’ net buying weakened drastically to QR3.08mn compared to QR6.29mn the previous day.
Total trade volume fell 24% to 187.45mn shares, value by 25% to QR389.7mn and transactions by 30% to 7,173.
The telecom sector’s trade volume plummeted 71% to 1.82mn equities, value by 46% to QR4.76mn and deals by 51% to 162.
There was 46% plunge in the transport sector’s trade volume to 1.6mn stocks, 56% in value to QR5.55mn and 53% in transactions to 173.
The insurance sector’s trade volume tanked 42% to 7.85mn shares, value by 39% to QR29.75mn and deals by 29% to 652.
The market witnessed 41% shrinkage in the consumer goods and services sector’s trade volume to 30.43mn equities, 26% in value to QR51.67mn and 29% in transactions to 1,083.
The industrials sector’s trade volume shrank 33% to 84.16mn stocks, value by 32% to QR139.75mn and deals by 20% to 2,291.
The banks and financial services sector saw 3% contraction in trade volume to 25.25mn shares, 27% in value to QR98.41mn and 45% in transactions to 1,781.
However, the real estate sector’s trade volume soared 76% to 36.33mn equities and value by 69% to QR59.81mn, while deals were down 2% to 1,031.