The Qatar Stock Exchange Thursday entered the second straight session of bullish run and its key index crossed the 10,700 levels, mainly lifted by the banking, consumer goods and industrials equities.
The Gulf institutions were increasingly net buyers as the 20-stock Qatar Index settled 32 points or 0.3% higher at 10,723.13 points, recovering from an intraday low of 10,686 points.
The weakened net selling by domestic institutions also supported the market, whose year-to-date gains improved to 2.75%.
More than 62% of the traded constituents extended gains in the bourse, whose capitalisation saw more than QR3bn or 0.56% increase to QR624.09n, mainly owing to small and microcap segments.
The Gulf individuals were seen bullish, albeit at low levels, in the market, which saw the industrials and consumer goods together constitute more than 63% of the total trading volume.
The overall trade turnover declined amidst higher volumes in the bourse, where the Islamic equities were seen gaining slower than the other indices.
The foreign institutions were into net profit booking in the market, which saw a total of 17,952 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR101,819 changed hands across three deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index rose 0.3% to 21,227.09 points, the All Share Index by 0.47% to 3,407.2 points and the Al Rayan Islamic Index (Price) by 0.08% to 2,494.53 points.
The banks and financial services index gained 0.67%, consumer goods and services (0.5%) and industrials (0.48%); whereas transport declined 0.32%, telecom (0.11%), insurance (0.1%) and real estate (0.05%).
Major gainers included Investment Holding Group, Inma Holding, Salam International Investment, QNB, Medicare Group, Qatar Insurance, Al Khaleej Takaful and QLM; even as Qatar Cinema and Film, Qatar General Insurance and Reinsurance, Mannai Corporation, QIIB, Barwa and Qamco were among the losers.
The Gulf institutions’ net buying increased markedly to QR4.24mn compared to QR2.35mn on June 9.
The Gulf individuals turned net buyers to the tune of QR0.01mn against net sellers of QR0.61mn on Wednesday.
The domestic funds’ net buying declined substantially to QR4.01mn compared to QR28.34mn the previous day.
However, foreign funds were net sellers to the extent of QR10.74mn against net buyers of QR11.25mn on June 9.
The Arab individuals’ net buying weakened notably to QR4.69mn compared to QR8.26mn on Wednesday.
Qatari individuals’ net buying eased perceptibly to QR5.18mn against QR6.11mn the previous day.
The foreign individuals’ net selling weakened marginally to QR0.64mn compared to QR1.01mn on June 9.
The Arab funds had no major net exposure against net profit takers to the tune of QR0.06mn on Wednesday.
Total trade volume rose 20% to 178.11mn shares, while value declined 7% to QR378.21mn and transactions by 6% to 9,282.
The consumer goods and services sector’s trade volume more than doubled to 48.51mn equities, value soared 14% to QR63.04mn and deals by 30% to 1,208.
There was a 50% surge in the real estate sector’s trade volume to 24.13mn stocks, 38% in value to QR37.71mn and 9% in transactions to 1,085.
The banks and financial services sector’s trade volume shot up 36% to 33.56mn shares, whereas value shrank 5% to QR135.81mn and deals by 31% to 2,726.
The market witnessed a 2% rise in the industrials sector’s trade volume to 63.91mn equities but on a 5% shrinkage in value to QR117.34mn despite 15% higher transactions at 3,357.
However, the telecom sector’s trade volume plummeted 70% to 4.24mn stocks, value by 64% to QR9.65mn and deals by 33% to 329.
The market witnessed a 50% plunge in the transport sector’s trade volume to 2.44mn shares, 59% in value to QR8.84mn and 16% in transactions to 348.
The insurance sector’s trade volume tanked 28% to 1.33mn equities and value by 20% to QR5.76mn, while deals were up 33% to 229.