An across the board buying, especially in the industrials and banking counters, Tuesday lifted the Qatar Stock Exchange above 10,700 levels.
Foreign funds were seen bullish as the 20-stock Qatar Index rose 70 points or 0.64% to 10,749.11 points, recovering from an intraday low of 10,689 points.
The Arab individuals’ weakened net selling also had its influence on the market, whose year-to-date gains rose to 3%.
About 74% of the traded constituents extended gains on the bourse, whose capitalisation saw about QR5bn or 0.81% increase to QR623.24mn, mainly owing to mid and microcap segments.
Domestic funds and local retail investors turned net sellers on the market, which saw the consumer goods, industrials and banking sectors together constituted more than 82% of the total trading volume.
The overall trade turnover and volumes were on the increase on the bourse, where the Islamic equities were seen gaining slower than the other indices.
Foreign and Gulf individuals were seen net profit takers on the market, which saw a total of 439,300 exchange traded funds (Masraf Al Rayan sponsored QATR) valued at QR1.06mn changed hands across 46 deals; while on the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 0.66% to 21,278.51 points, All Share Index by 0.67% to 3,412.2 points and Al Rayan Islamic Index (Price) by 0.5% to 2,460.1 points.
The industrials sector index shot up 1.07%, banks and financial services (0.67%), realty (0.65%), telecom (0.49%), transport (0.33%), consumer goods and services (0.25%) and insurance (0.05%).
Major gainers included Industries Qatar, Ooredoo, QNB, Ezdan, Qamco, Qatari German Medical Devices, Qatar Oman Investment, Aamal Company, Commercial Bank, Inma Holding, Salam International Investment and United Development Company; even as Qatar Cinema and Film, Qatar General Insurance and Reinsurance, Al Meera, Qatar First Bank and Zad Holding were among the losers.
Foreign funds were net buyers to the tune of QR75.78mn compared with net sellers of QR23.94mn on June 28.
The Arab individuals’ net profit booking shrank markedly to QR1.32mn against QR6.34mn the previous day.
However, domestic funds were net sellers to the extent of QR48.53mn compared with net buyers of QR3.59mn on Monday.
Qatari individuals turned net sellers to the tune of QR20.32mn against net buyers of QR14.21mn on June 28.
Foreign individuals were net sellers to the extent of QR5.28mn compared with net buyers of QR1.91mn the previous day.
The Gulf individuals turned net profit takers to the tune of QR1.11mn against net buyers of QR1.08mn on Monday.
The Gulf institutions were net sellers to the extent of QR1mn compared with net buyers of QR9.49mn on June 28.
The Arab institutions turned net profit takers to the tune of QR0.2mn against no major net exposure the previous day.
Total trade volume rose 18% to 214.3mn shares, value by 22% to QR430.02mn and transactions by 24% to 11,090.
The banks and financial services sector’s trade volume soared 91% to 47.47mn equities, value by 82% to QR167.42mn and deals by 55% to 3,928.
There was 62% surge in the real estate sector’s trade volume to 28.19mn stocks, 59% in value to QR39.88mn and 33% in transactions to 1,093.
The industrials sector’s trade volume shot up 15% to 56.69mn shares, value by 12% to QR92.2mn and deals by 27% to 2,378.
The market witnessed 9% expansion in the insurance sector’s trade volume to 1.64mn equities but on 13% decline in value to QR4.91mn and 16% in transactions to 207.
However, the transport sector’s trade volume plummeted 35% to 2.79mn stocks and value by 48% to QR9.32mn; while deals were up 9% to 289.
The consumer goods and services sector reported 8% shrinkage in trade volume to 71.98mn shares and less than 1% in value to QR101.02mn but on 15% growth in transactions to 2,205.
The telecom sector’s trade volume shrank 6% to 5.54mn equities, value by 45% to QR15.28mn and deals by 25% to 920.
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