The increased buying interests of foreign institutions yesterday extended the bullish run on the Qatar Stock Exchange for the fourth straight session and its key index surpassed the 10,800 levels.
The industrials and banking counters witnessed higher than average buying as the 20-stock Qatar Index settled 72 points, or 0.67% higher at 10,811.23 points, recovering from an intraday low of 10,750 points.
The foreign individuals’ increased net buying also had its influence in the market, whose year-to-date gains improved further to 3.6%.
Six of the seven sectors were under buying spotlight in the bourse, whose capitalisation saw about QR4bn or 0.61% increase to QR629.98n, mainly owing to small and midcap segments.
Nevertheless, the domestic institutions continued to be increasingly into net selling in the market, which saw the industrials and banking sectors together constituted more than 55% of the total trading volume.
The overall trade turnover grew amidst lower volumes in the bourse, where the Islamic equities were seen gaining slower than the other indices.
Both the Gulf funds and individuals had turned net sellers in the market, which saw a total of 6,890 exchange traded funds (Masraf Al Rayan sponsored-QATR) valued at QR17,672 changed hands across one deal; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index rose 0.67% to 21,401.48 points, the All Share Index by 0.66% to 3,436.56 points and the Al Rayan Islamic Index (Price) by 0.43% to 2,504.36 points.
The industrials sector index gained 1.12%, banks and financial services (0.74%), insurance (0.48%), consumer goods and services (0.11%), transport (0.05%) and realty (0.04%); whereas telecom shrank 0.25%.
Major gainers included Industries Qatar, QNB, Mannai Corporation, Qatar Industrial Manufacturing, Qatar Cinema and Film, QIIB, Commercial Bank, Medicare Group and Qatar Islamic Insurance; even as Inma Holding, Qatari German Medical Devices, Dlala, Alijarah Holding and QLM were among the decliners.
The foreign funds’ net buying increased notably to QR65.74mn compared to QR54.39mn on June 13.
The foreign individuals’ net buying grew markedly to QR4.94mn against QR0.61mn the previous day.
However, the domestic funds’ net selling grew substantially to QR63.57mn compared to QR49.41mn on Sunday.
Qatari individuals’ net profit booking grew noticeably to QR5.91mn against QR5.82mn on June 13.
The Gulf individuals turned net sellers to the tune of QR0.81mn compared with net buyers of QR0.37mn on Sunday.
The Gulf institutions were also net sellers to the extent of QR0.4mn against net buyers of QR4.63mn the previous day.
Total trade volume fell 4% to 134.72mn shares, while value grew 19% to QR406.13mn and transactions by 47% to 8,965.
There was a 42% plunge in the real estate sector’s trade volume to 25.09mn equities, 48% in value to QR35.53mn and 30% in deals to 829.
The insurance sector’s trade volume plummeted 37% to 0.99mn stocks, value by 20% to QR4.47mn and transactions by 3% to 145.
The market witnessed a 16% shrinkage in the consumer goods and services sector’s trade volume to 25.12mn shares but on a 31% increase in value to QR54.87mn and 27% in deals to 1,188.
However, the telecom sector’s trade volume almost quadrupled to 4.77mn equities and value by more than five-fold to QR18.97mn on more-than-five-fold jump in transactions to 835.
The transport sector’s trade volume almost quadrupled to 4.34mn stocks and value also more than quadrupled to QR20.6mn on more-than-tripled deals to 581.
The banks and financial services sector saw a 52% surge in trade volume to 26.47mn shares and 83% in value to QR122.69mn on a 48% decline in transactions to 2,625.
The industrials sector’s trade volume was up 5% to 47.95mn equities, while value fell 1% to QR149.01mn despite 63% higher deals at 2,762.