The Qatar Stock Exchange Wednesday gained more than 13 points, mainly on the back of increased buying interests of the foreign funds.
An across the board buying – especially in industrials, telecom and insurance counters led the 20-stock Qatar Index settle 0.12% higher at 11,076.22 points, recovering from an intraday low of 11,040 points.
More than 51% of the traded constituents extended gains in the market, whose year-to-date gains were at 6.14%.
Local retail investors’ weakened net selling pressure had its influence in the bourse, whose capitalisation saw QR87mn or 0.14% increase to QR638.02bn, mainly due to small cap segments.
Both Arab and foreign individuals were seen lesser inclined towards selling in the market, which saw the industrials, consumer goods and banking sectors together constitute about 89% of the total trading volume.
The overall trade turnover and volumes were on the increase in the bourse, where the domestic and Gulf institutions were increasingly into net profit booking.
The Gulf individuals were seen net sellers in the market, which saw a total of 85,723 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR367,726 change hands across 13 deals.
The Total Return Index gained 0.12% to 21,926.04 points, Al Rayan Islamic Index (Price) by 0.06% to 2,513.19 points and All Share Index by 0.14% to 3,518.76 points in the market, which saw no trading of sovereign bonds and treasury bills.
The industrials sector index rose 0.36%, telecom (0.18%), insurance (0.17%), banks and financial services (0.1%), real estate (0.02%), consumer goods and services (0.01%) and transport (0.01%).
Major movers included Investment Holding Group, Qatar Islamic Insurance, QLM, Qatar First Bank, Qatar National Cement, QNB, Industries Qatar, United Development Company and Vodafone Qatar.
Nevertheless, Mannai Corporation, Qatari German Medical Devices, Alijarah Holding, Qatar Electricity and Water, Doha Bank, Dlala and Gulf International Services were among the shakers.
The foreign institutions’ net buying grew notably to QR51.09mn compared to QR41.08mn on September 7.
Qatari individuals’ net selling declined considerably to QR4.04mn against QR20.01mn the previous day.
The foreign individuals’ net selling fell perceptibly to QR0.42mn compared to QR2.26mn on Tuesday.
The Arab individuals’ net selling shrank noticeably to QR0.75mn against QR1.74mn on September 7.
However, the domestic funds’ net selling grew substantially to QR41.3mn compared to QR15.51mn the previous day.
The Gulf funds’ net profit booking rose markedly to QR3.42mn against QR1.73mn on Tuesday.
The Gulf individuals turned net sellers to the tune of QR1.17mn compared with net buyers of QR0.39mn on September 7.
The Arab funds had no major net exposure against net sellers to the extent of QR0.21mn the previous day.
Total trade volume rose 6% to 137.24mn shares, value by 2% to Q322.64mn and transactions by 4% to 8,868.
The real estate sector reported 24% surge in trade volume to 11.5mn equities, 18% in value to QR15.69mn and 79% in deals to 813.
The banks and financial services sector’s trade volume soared 23% to 28.35mn stocks, value by 20% to QR146.86mn and transactions by 22% to 3,681.
There was 16% expansion in the industrials sector’s trade volume to 63.02mn shares, 11% in value to QR102.5mn and 18% in deals to 2,580.
However, the insurance sector reported 79% plunge in trade volume to 0.74mn equities, 79% in value to QR2.2mn and 34% in transactions to 91.
The telecom sector’s trade volume plummeted 70% to 1.01mn stocks, value by 74% to QR4.55mn and deals by 70% to 328.
The market witnessed 21% shrinkage in the transport sector’s trade volume to 2.51mn shares, 22% in value to QR8.62mn and 14% in transactions 397.
The consumer goods and services sector’s trade volume was down 8% to 30.1mn equities, value by 14% to QR42.22mn and deals by 18% to 978.
In the venture market, Al Faleh equities were seen gaining 0.29%; whereas those of Mekdam Holding were down 0.22%.