Foreign institutions’ strong buying interests on Thursday extended the bullish run in the Qatar Stock Exchange for the second straight session and its key barometer settled above 10,750 levels.
The insurance, real estate and industrials counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.42% higher at 10,753.28 points, recovering from an intraday low of 10,660 points.
More than 53% of the traded constituents extended gains in the market, which is up 3.01% year-to-date.
Five of the sectors experienced buying interests in the bourse, whose capitalisation saw more than QR2bn or 0.37% increase to QR621.6bn, mainly owing to small and microcap segments.
The Islamic index was seen treading a flat path vis-à-vis gains in the other indices in the market, which saw the banking, industrials and consumer goods and services sectors together constitute more than 81% of the total trading volume.
The overall trade turnover and volumes were on the increase in the bourse, where local retail investors turned bearish.
The domestic funds were seen increasingly into net profit booking in the market, which saw a total of 12,547 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR37,479 change hands across six deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 0.42% to 21,286.77 points and All Share Index by 0.49% to 3,416.93 points, while Al Rayan Islamic Index (Price) was rather unchanged.
The insurance index soared 3.15%, real estate (0.64%), industrials (0.6%), consumer goods and services (0.56%) and banks and financial services (0.35%); while telecom declined 0.48%. The transport index was flat.
Major gainers included Qatar Insurance, Doha Bank, Barwa, Qatar Industrial Manufacturing, Industries Qatar, Commercial Bank, QNB, Woqod and Mesaieed Petrochemical Holding.
Nevertheless, Mazaya Qatar, Masraf Al Rayan, Widam Food, Dlala, Salam International Investment, Alijarah Holding, Medicare Group, Qatar Electricity and Water and Ezdan were among the losers.
Foreign funds turned net buyers to the tune of QR56.94mn compared with net sellers of QR5.01mn on July 28.
However, Qatari individuals’ net selling increased significantly to QR28.55mn against QR1.01mn on Wednesday.
Domestic funds were net sellers to the extent of QR20.41mn compared with net buyers of QR4.74mn the previous day.
The Arab individuals’ net profit booking strengthened noticeably to QR4.77mn against QR4.19mn on July 28.
Foreign individuals’ net selling shot up markedly to QR3.63mn compared to QR2.01mn on Wednesday.
The Gulf individuals’ net profit booking grew perceptibly to QR1.03mn against QR0.03mn the previous day.
The Arab institutions turned net sellers to the tune of QR0.09mn compared with no major net exposure on July 28.
The Gulf institutions’ net buying weakened considerably to QR1.53mn against QR7.15mn on Wednesday.
Total trade volume rose 14% to 99.51mn shares, value by 28% to QR284.48mn and transactions by 7% to 7,436.
The consumer goods and services sector’s trade volume soared 44% to 28.85mn equities, value by 40% to QR39.05mn and deals by 60% to 1,207.
The market witnessed 25% surge in the industrials sector’s trade volume to 28.5mn stocks, 54% in value to QR66.29mn and 39% in transactions to 1,768.
The transport sector’s trade volume shot up 25% to 3.36mn shares, while value fell 5% to QR10.85mn despite 26% higher deals at 563.
However, there was 14% plunge in the real estate sector’s trade volume to 11.81mn equities, 17% in value to QR18.41mn and 5% in transactions to 706.
The telecom sector’s trade volume shrank 8% to 1.97mn stocks, whereas value expanded 60% to QR11.99mn and deals by 30% to 614.
The banks and financial services sector saw 5% contraction in trade volume to 23.51mn shares but on 29% jump in value to QR133.22mn despite 21% lower transactions at 2,477.
The insurance’s trade volume was down 3% to 1.5mn equities, value by 20% to QR4.66mn and deals by 21% to 101.