The Qatar Stock Exchange Sunday opened the week with a more than 16 points gain, mainly on the bullish outlook of the foreign funds.
The increased buying interests of Gulf institutions and individuals also helped the 20-stock Qatar Index, which settled 0.15% higher at 10,739.48 points, recovering from an intraday low of 10,716 points.
The industrials, insurance and banking counters witnessed higher than average demand on the market, whose year-to-date gains improved further to 2.91%.
The foreign individuals continued to be net buyers but with lesser vigour on the bourse, whose capitalisation saw more than QR2bn or 0.34% increase to QR626.19n, mainly owing to microcap segments.
The domestic institutions were nevertheless seen increasingly into net selling on the market, which saw the industrials and real estate sectors together constituted more than 63% of the total trading volume.
The overall trade turnover and volumes were on the decline on the bourse, where the Islamic equities were seen declining slower than the other indices.
The Arab individuals were seen net profit takers in the market, which saw a total of 14,099 exchange traded funds (Masraf Al Rayan sponsored QATR) valued at QR35,908 changed hands across four deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index rose 0.15% to 21,259.45 points and All Share Index by 0.2% to 3,414.15points, while Al Rayan Islamic Index (Price) was down 0.04% to 2,493.61 points.
The industrials sector index gained 0.59%, insurance (0.36%), banks and financial services (0.16%) and transport (0.11%); whereas consumer goods and services declined 0.21%, telecom (0.11%) and realty (0.08%).
Major gainers included Industries Qatar, QNB, Ezdan, Qatar General Insurance and Reinsurance, Alijarah Holding, Qatari German Medical Devices, Inma Holding and Dlala; even as Qamco, Gulf International Services, Widam Food, United Development Company, Mesaieed Petrochemical Holding and Qatar Insurance were among the losers.
Foreign funds turned net buyers to the tune of QR54.39mn against net sellers of QR10.74mn on June 10.
The Gulf institutions’ net buying increased marginally to QR4.63mn compared to QR4.24mn last Thursday.
The Gulf individuals’ net buying swelled markedly to QR0.37mn against QR0.01mn the previou8s trading day.
However, the domestic funds’ net buying grew substantially to QR49.41mn compared to QR4.01mn on June 10.
Qatari individuals were net sellers to the extent of QR5.82mn against net buyers of QR5.18mn last Thursday.
The Arab individuals turned net buyers to the tune of QR4.8mn compared with net buyers of QR4.69mn the previous day.
The foreign individuals’ net buying eased marginally to QR0.61mn against QR0.64mn on June 10.
The Arab funds continued to have no major net exposure for the second straight session.
Total trade volume fell 21% to 140.1mn shares, value by 10% to QR340.55mn and transactions by 34% to 6,083.
The telecom sector’s trade volume plummeted 72% to 1.2mn equities, value by 63% to QR3.53mn and deals by 53% to 156.
The market witnessed 54% plunge in the transport sector’s trade volume to 1.13mn stocks, 53% in value to QR4.16mn and 45% in transactions to 193.
The banks and financial services sector’s trade volume tanked 48% to 17.46mn shares, value by 51% to QR67.21mn and deals by 35% to 1,774.
The consumer goods and services sector reported 38% shrinkage in trade volume to 29.99mn equities, 34% in value to QR41.84mn and 22% in transactions to 938.
The industrials sector’s trade volume shrank 29% to 45.55mn stocks, while value gained 28% to QR150.34mn despite 50% lower deals at 1,692.
However, there was 79% surge in the real estate sector’s trade volume to 43.18mn shares, 80% in value to QR67.9mn and 9% in transactions to 1,181.
The insurance sector’s trade volume shot up 19% to 1.58mn equities, while value was down 3% to QR5.59mn and deals by 35% to 149.