The Qatar Stock Exchange on Sunday opened the week on a stronger note as it gained 88 points to inch cross the 11,700 levels, mainly on higher than average buying in the banking and industrials counters.
The Gulf institutions were increasingly net buyers as the 20-stock Qatar Index settled 0.75% higher at 11,751.38 points, recovering from an intraday low of 11,696 points.
The domestic funds’ net selling weakened substantially in the bourse, whose year-to-date gains improved to 12.6%.
The Arab individuals were increasingly net buyers, albeit at lower levels, in the market, whose capitalisation saw about QR6bn or 0.86% jump to QR681.61bn, mainly owing to small and mid-cap segments.
More than 62% of the traded constituents extended gains to investors in the bourse, where the industrials and consumer goods sectors together constituted more than 64% of the total trading volume.
The overall trade turnover and volumes were on the decline in the main market, where the local retail investors turned net sellers.
The foreign institutions’ net buying weakened considerably in the market, which saw a total of 30,376 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR83,226 change hands across seven deals.
The Total Return Index rose 0.75% to 23,262.56 points, All Share Index by 0.8% to 3,719.25 points and Al Rayan Islamic Index (Price) by 0.41% to 2,655.59 points in the market, which saw no trading of sovereign bonds and treasury bills.
The banks and financial services index gained 1.1%, industrials (0.76%), real estate (0.49%), consumer goods and services (0.34%), telecom (0.22%) and transport (0.13%); while insurance declined 0.68%.
Major movers included Gulf International Services, Mesaieed Petrochemical Holding, Industries Qatar, QNB, Qatar Islamic Bank, Mannai Corporation, Qatar Cinema and Film Distribution, Ezdan, Nakilat, Vodafone Qatar and Aamal Company; even as Inma Holding, Qatar Insurance, Qatar First Bank, Alijarah Holding and Qamco were among the losers.
The Gulf institutions’ net buying increased markedly to QR35.34mn compared to QR18.45mn on October 14.
The Arab individuals’ net buying grew marginally to QR4.73mn against QR4.32mn the previous trading day.
The domestic funds’ net selling weakened significantly to QR60.5mn compared to QR151.23mn last Thursday.
However, the local retail investors were net sellers to the extent of QR44.43mn against net buyers of QR6.62mn on October 14.
The Gulf individuals turned net profit takers to the tune of QR0.95mn compared with net buyers of QR0.64mn the previous day.
The foreign institutions’ net buying decreased significantly to QR65.52mn against QR117.44mn last Thursday.
The foreign individuals’ net buying shrank noticeably to QR0.29mn compared to QR3.75mn on October 14.
The Arab institutions had no major net exposure for the sixth straight session.
Total trade volume fell 17% to 252.56mn shares, value by 20% to QR599.18mn and transactions by 26% to 11,772.
The industrials sector’s trade volume plummeted 44% to 90.97mn equities, value by 38% to QR209.26mn and deals by 42% to 3,399.
There was 35% plunge in the insurance’s sector’s trade volume to 1.81mn stocks, 41% in value to QR4.72mn and 62% in transactions to 89.
The real estate sector’s trade volume tanked 22% to 22.92mn shares, value by 17% to QR34.44mn and deals by 14% to 1,070.
However, the market witnessed 51% surge in the transport sector’s trade volume to 10.16mn equities, 62% in value to QR41.2mn and 2% in transactions to 537.
The banks and financial services sector’s trade volume shot up 38% to 46mn stocks, whereas value eroded 19% to QR178.28mn and deals by 27% to 3,938.
The telecom sector reported 34% jump in trade volume to 9.44mn shares and 5% in value to QR22.07mn but on 10% fall in transactions to 843.
The consumer goods and services sector’s trade volume expanded 11% to 71.25mn equities, value by 19% to QR109.21mn and deals by 14% to 1,896.