The Qatar Stock Exchange Monday gained more than 80 points to surpass the 10,800 levels, mainly on increased buying interests of foreign funds.
An across the board buying – particularly in the industrials, transport and telecom – led the 20-stock Qatar Index rise 0.75% to 10,816.6 points, recovering from an intraday low of 10,781 points.
The Gulf institutions were increasingly net buyers in the market, whose year-to-date gains improved to 3.65%.
The Islamic equities witnessed higher than average demand in the bourse, whose capitalisation saw about QR5bn or 0.76% increase to QR624.68bn, mainly owing to mid and small cap segments.
The Arab individuals turned bullish, albeit at lower levels, in the market, which saw the industrials and consumer goods and services sectors together constitute more than 76% of the total trading volume.
The overall trade turnover and volumes were on the increase in the bourse, where local retail investors were seen increasingly into net profit booking.
Domestic funds were seen bearish in the market, which saw a total of 117,563 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR638,032 change hands across 19 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index rose 0.75% to 21,412.11 points, All Share Index by 0.72% to 3,430.92 points and Al Rayan Islamic Index (Price) by 1.1% to 2,477.88 points.
The industrials index shot up 1.22%, transport (0.76%), telecom (0.76%), real estate (0.69%), insurance (0.59%), banks and financial services (0.57%) and consumer goods and services (0.48%).
About 81% of the traded constituents extended gains with major movers being Qamco, Mesaieed Petrochemical Holding, Gulf International Services, Qatari German Company for Medical Devices, Qatar Industrial Manufacturing, Salam International Investment, Industries Qatar, Baladna, QIIB, Masraf Al Rayan, al khaliji and Qatar First Bank.
Nevertheless, Qatar Cinema and Film Distribution, Qatar General Insurance and Reinsurance, QLM, Widam Food and Qatar Islamic Insurance were among the losers.
Foreign institutions’ net buying increased substantially to QR45.19mn against QR1.95mn on August 1.
The Gulf funds’ net buying grew markedly to QR7.05mn compared to QR5.87mn the previous day.
The Arab individuals turned net buyers to the tune of QR0.46mn against net sellers of QR4.52mn on Sunday.
However, Qatari individuals’ net selling grew significantly to QR45.3mn compared to QR10.11mn on August 1.
Domestic funds were net sellers to the extent of QR4.74mn against net buyers of QR4.37mn the previous day.
Foreign individuals turned net profit takers to the tune of QR1.93mn compared with net buyers of QR2mn on Sunday.
The Gulf individuals were net sellers to the extent of QR0.73mn against net buyers of QR0.44mn on August 1.
The Arab institutions had no major net exposure for the second straight session.
Total trade volume rose 58% to 192.73mn shares, value by 41% to QR381.72mn and transactions by 55% to 10,223.
The industrials sector’s trade volume more than tripled to 79.33mn equities and value more than doubled to QR138.15mn on more than doubled deals to 3,821.
The market witnessed 84% surge in the telecom sector’s trade volume to 4.39mn stocks but on 16% decline in value to QR10.07mn and 17% in transactions to 535.
The consumer goods and services sector’s trade volume soared 61% to 67.24mn shares, value by 64% to QR92.05mn and deals by 42% to 1,824.
The transport sector saw 17% jump in trade volume to 3.94mn equities, 22% in value to QR14.29mn and 73% in transactions to 587.
The insurance’s trade volume was up 11% to 0.9mn stocks, whereas value declined 4% to QR3.3mn despite almost doubled deals to 130.
However, there was 35% plunge in the real estate sector’s trade volume to 13.76mn shares, 31% in value to QR20.65mn and 19% in transactions to 699.
The banks and financial services sector’s trade volume was down 6% to 23.18mn equities and value by 3% to QR103.22mn; whereas deals zoomed 35% to 2,627.