The Qatar Stock Exchange on Tuesday crossed the 12,700 levels, mainly steered by transport and real estate sectors.
Attractive dividend yield in certain sectors continued to lift the sentiments, which led the 20-stock Qatar Index settle 0.17% higher at 12,714.32 points, recovering from an intraday low of 12,635 points.
The foreign institutions continued to be net buyers but with lesser intensity in the market, whose year-to-date gains were at 9.36%.
About 57% of the traded constituents extended gains in the bourse, whose capitalisation saw QR73mn or 0.1% increase to QR722.49bn, mainly on the back of microcap segments.
The weakened net selling pressure from domestic funds had its influence in the market, where the industrials and consumer goods sectors together accounted for more than 52% of the trading volume.
The local retail investors’ lesser selling pressure also had its role in the bourse, which saw a total of 41,043 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR452,224 changed hands across 10 deals.
The Gulf retail investors were seen bullish, albeit at lower levels, in the market, which saw no trading of sovereign bonds.
Total trade turnover declined amidst higher volumes in the bourse, which saw no trading of treasury bills.
The Total Return Index was up 0.17% to 25,265.61 points, All Share Index by 0.09% to 3,998.1 points and Al Rayan Islamic Index (Price) by 0.15% to 2,821.46 points.
The transport index soared 1.81%, real estate (0.75%) and industrials (0.07%); while consumer goods and services declined 0.46%, banks and financial services (0.03%), telecom (0.02%) and insurance (0.01%).
Major gainers in the main market included Aamal Company, Mesaieed Petrochemical Holding, Gulf Warehousing, Nakilat, Salam International Investment, Qatar First Bank, Mannai Corporation, Qatar Industrial Manufacturing, Investment Holding Group, Qatar Islamic Insurance, Barwa and Milaha. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value.
Nevertheless, Qatar National Cement, Zad Holding, Al Khaleej Insurance, Gulf International Services, Medicare Group, Qatar Insurance and Industries Qatar were among the losers in the main market.
The domestic funds’ net selling declined markedly to QR112.05mn compared to QR134.14mn on February 14.
Qatari individuals’ net profit booking fell drastically to QR58.78mn against QR80.18mn the previous day.
The Gulf individuals turned net buyers to the tune of QR0.63mn compared with net sellers of QR0.3mn on Monday.
The Arab institutions were net buyers to the extent of QR0.04mn against net sellers of QR0.22mn on February 14.
However, the Gulf funds’ net selling grew considerably to QR11.98mn compared to QR0.02mn the previous day.
The Arab individuals’ net profit booking strengthened noticeably to QR4.28mn against QR3.42mn on Monday.
The foreign institutions’ net buying weakened significantly to QR180.08mn compared to QR211.78mn on February 14.
The foreign individuals’ net selling eased marginally to QR6.34mn against QR6.5mn the previous day.
Total trade volume in the main market rose 9% to 153.86mn shares, while value fell 13% to QR574.68mn and transactions by 13% to 13,424.
The consumer goods and services sector’s trade volume soared 81% to 41.54mn equities and value by 2% to QR68.34mn, while deals were flat at 1,134.
The transport sector reported 58% surge in trade volume to 5.87mn stocks, 59% in value to QR31.18mn and 38% in transactions to 1,202.
The banks and financial services sector’s trade volume was up 5% to 28.28mn shares, while value declined 7% to QR270.43mn and deals by 19% to 5,862.
However, there was 13% plunge in the telecom sector’s volume to 5.79mn equities, 13% in value to QR29.5mn and 29% in transactions to 1,152.
The industrials sector’s trade volume plummeted 11% to 51.91mn stocks, value by 36% to QR137.22mn and deals by 24% to 3,113.
The insurance sector reported 9% contraction in trade volume to 2.89mn shares, value by 25% to QR8.57mn and transactions by 41% to 250.
The real estate sector’s trade volume was down 9% to 17.57mn equities, while value expanded 17% to QR29.45mn and deals by 17% to 771.
In the venture market, volumes almost tripled to 0.99mn stocks and value more than doubled to QR8.83mn on almost tripled transactions to 507.
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