The Qatar Stock Exchange Tuesday inched near 12,600 levels, mainly on the back of strong demand for the real estate and transport sectors.
The domestic institutions were seen bullish as the 20-stock Qatar Index settled 74 points or 0.59% higher at 12,572.55 points, recovering from an intraday low of 12,518 points.
The Arab individuals turned net buyers in the market, whose year-to-date gains stood at 8.14%.
More than 68% of the traded constituents extended gains in the bourse, whose capitalisation saw more than QR3bn or 0.42% increase to QR721.51bn, mainly on the back of midcap segments.
The foreign institutions continued to be net buyers but with lesser intensity in the market, where the industrials, realty and banking sectors together accounted for more than 73% of the trading volume.
The Gulf institutions also continued to be net buyers but with lesser vigour in the bourse, which saw a total of 32,273 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR317,984 changed hands across 10 deals.
The Islamic index was seen gaining faster than the main barometer in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the decline in the bourse, which saw no trading of treasury bills.
The Total Return Index gained 0.59% to 24,888.12 points, Al Rayan Islamic Index (Price) by 0.7% to 2,760.33 points and All Share Index by 0.52% to 3,950.58 points.
The transport sector index shot up 2.9%, industrials (0.99%), real estate (0.63%), consumer goods and services (0.43%), insurance (0.27%) and banks and financial services (0.13%); while telecom declined 0.13%.
Major movers in the main market included Qatar National Cement, Al Khaleej Takaful, Ahlibank Qatar, Nakilat, Inma Holding, QIIB, Medicare Group, Widam Food, Qatar Electricity and Water, Aamal Company, Gulf International Services, Qamco, Mesaieed Petrochemical Holding, Milaha and Gulf Warehousing. In the venture market, Mekdam Holding saw their shares extend gains.
Nevertheless, Dlala, Qatar General Insurance and Reinsurance, Mannai Corporation, Qatar Cinema and Film Distribution, Qatari German Medical Devices and Ooredoo were among the losers in the main market. In the junior bourse, Al Faleh Educational Holding saw its scrips depreciate in value.
The domestic institutions turned net buyers to the tune of QR7.1mn compared with net sellers of QR66.96mn yesterday.
The Arab individuals were net buyers to the extent of QR6.18mn against net profit takers of QR3.15mn on Monday.
However, Qatari individuals’ net selling grew drastically to QR65.13mn compared to QR37.47mn the previous day.
The foreign individuals turned net sellers to the tune of QR7.58mn against net buyers of QR2.97mn yesterday.
The Gulf individuals were net profit takers to the extent of QR2.04mn compared with net buyers of QR2mn on Monday.
The foreign institutions’ net buying shrank substantially to QR53mn against QR92.47mn the previous day.
The Gulf institutions’ net buying weakened perceptibly to QR8.47mn compared to QR10.14mn yesterday.
The Arab institutions continued to have no major net exposure for the second straight session.
Total trade volume in the main market fell 6% to 189.18mn shares, value by 1% to QR583.3mn and transactions by 7% to 12,944.
The telecom sector’s volume plummeted 41% to 3.77mn equities, value by 42% to QR14.68mn and deals by 50% to 398.
The consumer goods and services sector saw 39% plunge in trade volume to 28.15mn stocks, 41% in value to QR67.29mn and 34% in transactions to 1,557.
The banks and financial services sector’s trade volume tanked 35% to 34.5mn shares, value by 11% to QR168.54mn and deals by 34% to 4,964.
There was 22% shrinkage in the insurance sector’s trade volume to 3.94mn equities, and 14% in value to QR12.93mn but on 8% increase in transactions to 379.
However, the transport sector’s trade volume soared 59% to 14.79mn stocks, value by 33% to QR71.91mn and deals by 28% to 1,253.
The industrials sector reported a 28% surge in trade volume to 69.43mn shares, 34% in value to QR200.86mn and 14% in transactions to 3,758.
The real estate sector’s trade volume shot up 25% to 34.62mn equities and value by 13% to QR47.08mn; whereas deals shrank 31% to 635.
In the venture market, volumes decreased 74.48% to 1.1mn stocks, value by 74.51% to QR9.32mn and transactions by 34.72% to 532.
Business / Business
QSE inches near 12,600 levels as Islamic equities gain faster
The domestic institutions were seen bullish as the 20-stock Qatar Index settled 74 points or 0.59% higher at 12,572.55 points yesterday, recovering from an intraday low of 12,518 points.
