The Qatar Stock Exchange on Thursday gained 70 points to inch near the 11,200 points, mainly on the back of foreign funds’ substantial net buying.
The industrials and banking counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.63% higher at 11,180.92 points, recovering from an intraday low of 11,096 points.
The Gulf funds were seen bullish in the market, whose year-to-date gains were at 7.14%.
The Islamic equities were seen gaining slower than the other indices in the bourse, whose capitalisation saw more than QR5bn or 0.81% increase to QR646.08bn, mainly due to large cap segments.
Local retail investors’ substantially weakened net selling pressure had its influence in the market, which saw the industrials and banking sectors together constitute more than 68% of the total trading volume.
The overall trade turnover grew amidst lower volumes in the bourse, where the Gulf individuals’ net profit booking weakened.
However, the domestic funds were seen increasingly into net profit booking in the market, which saw a total of 51,006 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR211,632 change hands across five deals.
The Total Return Index gained 0.63% to 22,133.31 points, Al Rayan Islamic Index (Price) by 0.07% to 2,542.1 points and All Share Index by 0.65% to 3,548.87 points in the market, which saw no trading of sovereign bonds and treasury bills.
The industrials sector index shot up 1.28%, banks and financial services (0.73%), transport (0.36%) and consumer goods and services (0.01%); while telecom declined 0.56%, insurance (0.24%) and real estate (0.21%).
Major gainers included Industries Qatar, QNB, Ahlibank Qatar, Investment Holding Group, Mesaieed Petrochemical Holding, Commercial Bank, al khaliji, Qatari German Medical Devices and Barwa.
Nevertheless, about 47% of the traded constituents were in the red with major losers being QLM, Vodafone Qatar, Medicare Group, Doha Bank, Qatar Oman Investment, Inma Holding, Widam Food and Qamco.
The foreign institutions’ net buying increased substantially to QR113.71mn compared to QR24.06mn on September 15.
The Gulf funds turned net buyers to the tune of QR4.03mn against net buyers of QR1.13mn the previous day.
Local retail investors’ net selling declined significantly to QR8.56mn compared to QR31.85mn on Wednesday.
The Gulf individuals’ net profit booking eased marginally to QR0.34mn against QR0.84mn on September 15.
However, the domestic funds’ net selling rose drastically to QR106.01mn compared to QR1.06mn the previous day.
The Arab individuals were net sellers to the extent of QR3.18mn against net buyers of QR9.77mn on Wednesday.
The foreign individuals’ net buying declined markedly to QR0.34mn compared to QR1.06mn on September 15.
The Arab funds continued to have no major net exposure for the third straight session.
Total trade volume fell 14% to 197.48mn shares, while value grew 44% to QR771.76mn despite 1% lower transactions at 11,015.
The market witnessed 50% plunge in the consumer goods and services sector’s trade volume to 26.74mn equities, 41% in value to QR59.64mn and 37% in deals to 1,263.
The transport sector’s trade volume plummeted 32% to 5.59mn stocks, value by 42% to QR18.13mn and transactions by 47% to 369.
There was 19% shrinkage in the industrials sector’s trade volume to 90.91mn shares but on 24% growth in value to QR300.94mn despite 20% lower deals at 3,265.
The real estate sector’s trade volume was down 4% to 20.27mn equities, while value shot up 24% to QR38.18mn despite 1% lower transactions at 1,099.
However, the telecom sector’s trade volume more than tripled to 6.86mn stocks and value more than doubled to QR17.03mn on almost doubled deals to 541.
The banks and financial services sector’s trade soared 50% to 44.29mn shares and value almost tripled to QR330.82mn on 55% increase in transactions to 4,352.
The insurance sector reported 11% expansion in trade volume to 2.81mn equities but on flat value to QR7.02mn despite 19% lower deals at 126.
In the venture market, Al Faleh equities were seen declining 0.05%, while those of Mekdam Holding gained 0.06%.Last updated: September 16 2021 07:22 PM
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