Buying interests, especially within consumer goods, on Tuesday lifted the Qatar Stock Exchange more than 30 points and to settle above the 10,400 level.
Foreign institutions’ increased buying interests drove the 20-stock Qatar Index up 0.29% to 10,420.14 points.
The weakened selling pressure from Gulf funds also played its part in the market, whose key benchmark closed 1.18% higher year-to-date.
Market capitalisation was up 0.06%, or QR36mn, to QR575.49bn mainly owing to microcap segments.
Islamic equities were seen gaining faster than the other indices in the market, where local retail investors turned net sellers.
Trade turnover and volume were on the increase in the bourse, where the banking sector alone accounted for more than 78% of the total volume.
The Total Return Index rose 0.29% to 19,173.93 points, the Al Rayan Islamic Index (Price) by 0.41% to 2,374.26 points and the All Share Index by 0.16% to 3,084.09 points.
The consumer goods index gained 1.62%, industrials (0.42%), banks and financial services (0.18%), insurance (0.12%) and telecom (0.08%); whereas real estate and transport declined 1.04% and 0.33% respectively.
More than 51% of the traded constituents extended gains with major movers being Commercial Bank, Dlala, Salam International Investment, Medicare Group, Widam Food, Qatari Investors Group and Gulf Warehousing; even as QNB, Qatar First Bank, Qatar Oman Investment, Ahlibank Qatar, Mannai Corporation, Ezdan, Barwa and Milaha were among the losers.
Non-Qatari institutions’ net buying increased influentially to QR61.75mn compared to QR13.04mn on Monday.
Gulf institutions’ net profit booking declined noticeably to QR3.79mn against QR9.94mn on June 15.
However, domestic institutions’ net selling grew significantly to QR28.97mn compared to QR21.08mn the previous day.
Local retail investors turned net sellers to the tune of QR28.71mn against net buyers of QR12.52mn on Monday.
Non-Qatari individual investors were also net sellers to the extent of QR1.42mn compared with net buyers of QR3.86mn on June 15.
Gulf individual investors’ net buying weakened marginally to QR1.2mn against QR1.63mn the previous day.
Total trade volume grew 44% to 44.56mn shares, value by 16% to QR315.87mn and transactions by 5% to 7,695.
The banks and financial services sector saw a 74% surge in trade volume to 34.88mn equities, 14% in value to QR129.62mn and 17% in deals to 2,572.
The insurance sector’s trade volume plummeted 71% to 0.94mn stocks, value by 70% to QR19.67mn and transactions by 30% to 409.
There was a 53% increase in the real estate sector’s trade volume to 2.89mn shares, 56% in value to QR29.24mn and 50% in deals to 892.
The transport sector’s trade volume expanded 22% to 0.84mn equities and value by 30% to QR19.88mn, whereas transactions were down 15% to 184.
The industrials sector reported an 18% jump in trade volume to 2.15mn stocks and 15% in value to QR54.33mn but on a 28% fall in deals to 2,152.
However, the telecom sector’s trade volume plummeted 56% to 1.36mn shares and value by 32% to QR17.22mn, while transactions shot up 46% to 465.
The consumer goods sector saw a 47% plunge in trade volume to 1.5mn equities but on a 16% growth in value to QR45.91mn and 45% in deals to 1,021.
In the debt market, there was no trading of treasury bills and sovereign bonds.