The Qatar Stock Exchange gained for the second day Sunday with its key index surpassing the 10,500 levels, mainly on real estate and transport equities.
Domestic funds were seen bullish as the 20-stock Qatar Index gained 0.62% or more than 64 points to 10,508.76 points, amidst weakened trading.
Foreign institutions continued to be net buyers but with lesser intensity on the market, which is up 0.8% year-to-date.
Market capitalisation saw about QR3bn or 0.49% increase to QR584.27bn mainly owing to mid and microcap segments.
Islamic stocks were seen gaining faster than the other indices on the bourse, where local retail investors were increasingly bearish.
Trade turnover and volumes were on the decline on the bourse, where banking and real estate sectors together accounted for about 55% of the total volume.
The Total Return Index rose 0.62% to 19,337 points, All Share Index by 0.56% to 3,118.67 points and Al Rayan Islamic Index (Price) by 0.72% to 2,316.36 points.
The realty index soared 1.31%, transport (1.18%), consumer goods (0.7%), banks and financial services (0.54%) and industrials (0.45%), while insurance was down 0.02%. The telecom index was unchanged.
More than 74% of the traded stocks extended gains with major movers being Doha Bank, Al Khaliji, Al Khaleej Takaful, Untied Development Company, Ezdan, Mazaya Qatar, Commercial Bank, Alijarah Holding, Dlala, Salam International Investment, Medicare Group, Widam Food, Qatari Investors Group, Mesaieed Petrochemical Holding and Milaha; even as Barwa, QNB, Qatar Insurance, Qatar First Bank, Qatar Oman Investment and Al Meera were among the losers.
Domestic institutions turned net buyers to the tune of QR16.11mn compared with net sellers of QR57.64mn last Thursday.
The Gulf institutions’ net profit booking declined perceptibly to QR1.93mn against QR2.12mn the previous trading day.
However, non-Qatari funds’ net buying weakened substantially to QR18.89mn compared to QR88.67mn on January 9.
Local retail investors’ net selling increased marginally to QR31.25mn against QR30.58mn last Thursday.
Non-Qatari individuals were net sellers to the extent of QR1.27mn compared with net buyers of QR1.21mn the previous trading day.
The Gulf individual investors were also net profit takers to the tune of QR0.56mn against net buyers of QR0.48mn on January 9.
Total trade volumes fell 34% to 57.71mn shares, value by 46% to QR144.09mn and transactions by 49% to 3,024.
The transport sector’s trade volume plummeted 70% to 1.23mn equities, value by 56% to QR5.36mn and deals by 63% to 102.
There was 59% plunge in the industrials sector’s trade volume to 7.31mn stocks, 60% in value to QR12.46mn and 47% in transactions to 458.
The telecom sector’s trade volume tanked 29% to 5.43mn shares, value by 22% to QR13.58mn and deals by 22% to 539.
The banks and financial services sector saw 27% shrinkage in trade volume to 18.99mn equities, 42% in value to QR76.61mn and 34% in transactions to 945.
The consumer goods sector’s trade volume shrank 24% to 9.57mn stocks, value by 64% to QR19.08mn and deals by 71% to 555.
The real estate sector reported 23% contraction in trade volume to 12.69mn shares, 34% in value to QR11.43mn and 42% in transactions to 273.
The insurance sector’s trade volume was down 6% to 2.49mn equities, value by 5% to QR5.58mn and deals by 34% to 152.
In the debt market, there was no trading of sovereign bonds and treasury bills.