The Qatar Stock Exchange on Tuesday crossed the 11,100 points, mainly on strong buying interests in the industrials segment.
The increased buying interest of local retail investors and foreign funds was instrumental in lifting the 20-stock Qatar Index more than 46 points or 0.42% to 11,129.72 points, recovering from an intraday low of 11,089 points.
More than 55% of the traded constituents extended gains in the market, whose year-to-date gains were at 6.65%.
The Islamic equities were seen gaining faster than the other indices in the bourse, whose capitalisation saw more than QR2bn or 0.4% increase to QR642.19bn, mainly due to midcap segments.
The Arab individuals’ weakened net selling pressure also had its influence in the market, which saw the industrials sector alone constitute about 53% of the total trading volume.
The overall trade turnover and volumes were on the increase in the bourse, where the foreign individuals were increasingly bullish.
However, the domestic funds were seen increasingly into net profit booking in the market, which saw a total of 31,699 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR168,700 change hands across five deals.
The Total Return Index gained 0.42% to 22,031.95 points, Al Rayan Islamic Index (Price) by 0.66% to 2,539.6 points and All Share Index by 0.33% to 3,531.71 points in the market, which saw no trading of sovereign bonds and treasury bills.
The industrials sector index shot up 1.31%, real estate (0.37%), banks and financial services (0.11%) and consumer goods and services (0.01%); while insurance and transport declined 0.47% and 0.02% respectively. The telecom index was flat.
Major gainers included Mesaieed Petrochemical Holding, Qamco, Alijarah Holding, Qatari Investors Group, Qatar Islamic Bank, Commercial Bank, QIIB, Widam Food, Baladna, Aamal Company, Gulf International Services, Al Khaleej Takaful, Mazaya Qatar, Nakilat and United Development Company.
Nevertheless, Medicare Group, Milaha, Salam International Investment, Qatar Insurance and Doha Insurance were among the shakers.
Local retail investors’ net buying grew substantially to QR30.52mn compared to QR6.1mn on September 13.
The foreign institutions’ net buying increased noticeably to QR27.06mn against QR19.85mn the previous day.
The foreign individuals’ net buying grew markedly to QR3.51mn compared to QR1.31mn on Monday.
The Arab individuals’ net profit booking fell drastically to QR0.46mn against QR9.47mn on September 13.
However, the domestic funds’ net selling rose considerably to QR60.18mn compared to QR22.28mn the previous day.
The Gulf individuals turned net sellers to the extent of QR1.18mn against net buyers of QR0.41mn on Monday.
The Gulf funds’ net buying weakened significantly to QR0.73mn compared to QR4.06mn on September 13.
The Arab funds had no major net exposure against net buyers to the extent of QR0.01mn the previous day.
Total trade volume rose 34% to 308.9mn shares, value by 41% to QR680.87mn and transactions by 20% to 13,967.
The transport sector’s trade volume almost tripled to 9.39mn equities and value more than doubled to QR32.06mn on 45% increase in deals to 819.
The telecom sector’s trade volume more than doubled to 7.31mn stocks and value also more than doubled to QR23.35mn on 7% jump in transactions to 779.
The real estate sector reported 74% surge in trade volume to 38.04mn shares, 48% in value to QR55.87mn and 20% in deals to 1,468.
The banks and financial services sector’s trade soared 44% to 48.11mn equities, value by 7% to QR149.42mn and transactions by 12% to 3,867.
There was 36% expansion in the industrials sector’s trade volume to 163.95mn stocks, 70% in value to QR355.23mn and 31% in deals to 5,628.
However, the insurance sector’s trade volume tanked 14% to 1.93mn shares, whereas value grew 1% to QR6.49mn and transactions by 84% to 217.
The market witnessed 13% plunge in the consumer goods and services sector’s trade volume to 40.17mn equities, 12% in value to QR58.45mn and 5% in deals to 1,189.
In the venture market, Al Faleh and Mekdam Holding equities were seen declining 0.06% and 1.35% respectively.
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