A strong buying, especially at the consumer goods, insurance and telecom counters, yesterday lifted the Qatar Stock Exchange by more than 44 points and its key index crossed the 12,650 levels.
Foreign institutions were increasingly into net buying as the 20-stock Qatar Index settled 0.35% higher at 12,654.78 points, recovering from an intraday low of 12,595 points.
The Islamic index was seen gaining faster than the other indices in the market, whose year-to-date gains stood at 8.85%.
The foreign individuals were also increasingly net buyers in the bourse, whose capitalisation saw QR1bn or 0.14% increase to QR724.87bn, mainly on the back of microcap segments.
Nevertheless, local retail investors were increasingly net sellers in the market, where the industrials and banking sectors together accounted for more than 57% of the trading volume.
The domestic institutions turned bearish in the bourse, which saw a total of 52,026 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR481,342 changed hands across 18 deals.
The Arab individuals were also seen net sellers, albeit at lower levels, in the market, which saw no trading of sovereign bonds.
Total trade turnover was on the rise amidst lower volumes in the bourse, which saw no trading of treasury bills.
The Total Return Index gained 0.35% to 25,050.9 points, the Al Rayan Islamic Index (Price) by 0.58% to 2,796.03 points and the All Share Index by 0.24% to 3,991.24 points.
The consumer goods and services sector index shot up 1.58%, insurance (0.83%), telecom (0.71%) and banks and financial services (0.43%); while transport declined 1.9%, industrials (0.17%) and realty (0.11%).
Major movers in the main market included Qatar General Insurance and Reinsurance, Zad Holding, Ahlibank Qatar, Woqod, Qatar National Cement, Qatar Islamic Bank, Qamco, Qatar Islamic Insurance, Vodafone Qatar and Ooredoo.
Nevertheless, about 57% of the traded constituents were in the red with major losers being Mannai Corporation, Qatar Industrial Manufacturing, Nakilat, Milaha, Gulf International Services, Alijarah Holding, Qatari German Medical Devices, QLM and Mazaya Qatar were among the losers in the main market. In the venture market, Mekdam Holding saw its scrips depreciate in value.
The foreign institutions’ net buying increased substantially to QR142.6mn compared to QR61.09mn on February 3.
The foreign individuals’ net buying strengthened perceptibly to QR4.72mn against QR3.03mn the previous day.
However, Qatari individuals’ net selling grew drastically to QR110.71mn compared to QR93.34mn on Wednesday.
The domestic institutions turned net sellers to the tune of QR33.67mn against net buyers of QR6.57mn on February 3.
The Arab individuals were net sellers to the extent of QR1.44mn compared with net buyers of QR4.34mn the previous day.
The Gulf funds turned net profit takers to the tune of QR0.85mn against net buyers of QR18.86mn on Wednesday.
The Gulf individuals’ net selling expanded marginally to QR0.64mn compared to QR0.56mn on February 3.
The Arab institutions continued to have no major net exposure for the fourth straight session.
Total trade volume in the main market fell 12% to 159.53mn shares, while value rose 8% to QR657.74mn and transactions by 20% to 15,265.
The market witnessed a 59% plunge in the real estate sector’s trade volume to 20.57mn equities, 62% in value to QR33.09mn and 21% in deals to 1,189.
The transport sector’s trade volume plummeted 25% to 4.62mn stocks, value by 37% to QR21.83mn and transactions by 23% to 647.
There was 23% shrinkage in the industrials sector’s trade volume to 51.78mn shares, 28% in value to QR150.83mn and deals by 17% to 3,355.
The consumer goods and services sector’s trade volume tanked 17% to 15.97mn equities, whereas value expanded 8% to QR51.43mn and transactions by 14% to 1,172.
However, the telecom sector’s volume more than tripled to 21.99mn stocks and value more than doubled to QR80.74mn on more than doubled transactions to 1,788.
The insurance sector reported 55% surge in trade volume to 5.35mn shares, value by 57% to QR15.42mn and deals by 56% to 669.
The banks and financial services sector’s trade volume soared 44% to 39.26mn equities, value by 63% to QR304.4mn and transactions by 58% to 6,445.
In the venture market, volumes were up 1.27% to 1.6mn stocks, value by 5.01% to QR14.87mn and deals by 10.18% to 660.
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