Qatar Stock Exchange snapped six consecutive days of bearish run and its key index gained, albeit at lower levels, despite strong buying support from foreign institutions.
Although six of the seven sectors were largely under selling pressure, the 20-stock Qatar Index managed to gain 0.08% or eight points to 10,371.17 points. The market’s year-to-date losses have fallen a bit to 0.56%.
Trade turnover and volumes were on the rise in the market, where industrials, telecom and banking stocks together constituted about 83% of the total volumes.
Islamic stocks were seen outperforming the main index in the bourse, where Gulf individual investors’ bullish outlook also helped lift the sentiments.
However, domestic institutions turned bearish and there was increased net selling by local and non-Qatari individual investors as well as Gulf institutions.
Market capitalisation was seen expanding marginally by 0.1% or QR55mn to QR558.57bn.
The Total Return Index rose 0.08% to 16,779.87 points and Al Rayan Islamic Index by 0.54% to 3,858.73 points; while All Share Index was down 0.08% to 2,859.93 points.
Industrials saw their equities’ prices soar 1.73%; while consumer goods declined 1.86%, insurance (1.18%), real estate (1.13%), telecom (0.41%), transport (0.36%) and banks and financial services (0.01%).
More than 57% of the stocks extended gains with major gainers being Industries Qatar, Qatari Investors Group, United Development Company, Milaha, Commercial Bank and Masraf Al Rayan.
Nevertheless, Qatar Insurance, Gulf International Services, Mazaya Qatar, Ezdan, Ooredoo, Gulf Warehousing Company, Nakilat, Doha Bank, al khaliji, Qatar First Bank, Alijarah Holding and Qatar Electricity and Water were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR56.47mn compared with net sellers of QR9.21mn the previous day.
The GCC (Gulf Cooperation Council) individual investors were also net buyers to the extent of QR3.74mn against net sellers of QR0.02mn on October 26.
However, domestic institutions turned net sellers to the tune of QR41.96mn compared with net buyers of QR18.07mn on Wednesday.
Non-Qatari individual investors’ net selling strengthened to QR8.18mn against QR0.82mn the previous day.
The GCC institutions’ net profit booking increased to QR7.85mn compared to QR6.38mn on October 26.
Local retail investors’ net selling rose marginally to QR2.22mn against QR1.62mn on Wednesday.
Total trade volume gained 29% to 8.11mn shares, value by 24% to QR230.95mn and deals by 15% to 3,321.
The industrials sector’s trade volume more than quadrupled to 3.5mn equities and value more than doubled to QR118.3mn on 33% jump in transactions to 847.
There was 81% surge in the consumer goods sector’s trade volume to 0.29mn stocks, 56% in value to QR22.45mn and 75% in deals to 542.
The insurance sector’s trade volume soared 67% to 0.05mn shares, value by 62% to QR3.37mn and transactions by 20% to 60.
The market witnessed 31% expansion in the transport sector’s trade volume to 0.17mn equities, 47% in value to QR6.59mn and 16% in deals to 134.
However, the telecom sector’s trade volume plummeted 30% to 1.75mn stocks and value by 25% to QR22.26mn; while transactions were up 2% to 384.
The real estate sector saw 20% plunge in trade volume to 0.9mn shares, 30% in value to QR17.67mn and 2% in deals to 612.
The banks and financial services sector’s trade volume was down 2% to 1.45mn equities, value by 34% to QR40.31mn and transactions by 4% to 742.
In the debt market, there was no trading of treasury bills and government bonds.
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