The Qatar Stock Exchange on Tuesday inched near 11,600 levels, mainly lifted by an higher than average demand for real estate, consumer goods, telecom and industrials equities.
The Islamic index was seen gaining faster than the other indices as the 20-stock Qatar Index settled 27 points or 0.23% higher at 11,595.58 points, recovering from an intraday low of 11,557 points.
Foreign institutions continued to be net buyers but with lesser vigour in the bourse, whose year-to-date gains improved to 11.11%.
About 57% of the traded constituents extended gains in the market, whose capitalisation saw more than QR10bn or 1.58% jump to QR671.43bn.
The net selling pressure from the domestic funds and local retail investors weakened in the bourse, where the industrials, consumer goods and realty sectors together constituted about 81% of the total trading volume.
The overall trade turnover declined amidst lower volumes in the main market, where the Gulf individuals’ net selling pressure lessened.
The Gulf institutions continued to be net buyers but with lesser intensity in the market, which saw a total of 13,943 exchange traded funds (Masraf Al Rayan sponsored QATR) valued at QR36,397 change hands across four deals.
The Total Return Index rose 0.23% to 22,954.15 points, Al Rayan Islamic Index (Price) by 0.33% to 2,635.58 points and All Share Index by 0.2% to 3,666.19 points in the market, which saw no trading of sovereign bonds and treasury bills.
The real estate sector index gained 1.34%, consumer goods and services (0.6%), telecom (0.47%), industrials (0.34%), transport (0.16%) and banks and financial services 90.01%); while insurance declined 0.34%.
Major gainers in the main market included Qatari German Medical Devices, Mannai Corporation, Ezdan, Mazaya Qatar, Doha Insurance, Alijarah Holding, Woqod, Baladna, Industries Qatar, United Development Company, Ooredoo and Nakilat. In the venture market, both Al Faleh Educational Holding and Mekdam Holding were seen extending gains.
Nevertheless, Ahlibank Qatar, Gulf International Services, Qatar General Insurance and Reinsurance, Investment Holding Group, Zad Holding, Qatar Islamic Bank, Qatar National Cement, Qamco and Gulf Warehousing were among the losers in the main market.
The domestic funds’ net profit booking declined considerably to QR52.25mn compared to QR101.81mn on October 11.
The local retail investors’ net selling weakened markedly to QR6.67mn against QR13.72mn the previous day.
The Gulf individuals’ net profit booking shrank notably to QR3.21mn compared to QR8.79mn on Monday.
The foreign individuals’ net selling decreased perceptibly to QR0.22mn against QR2.53mn on October 11.
However, the Arab individuals turned net sellers to the tune of QR1.36mn compared with net buyers of QR7.38mn the previous day.
The foreign institutions’ net buying fell significantly to QR60.22mn against QR109.55mn on Monday.
The Gulf funds’ net buying eased remarkably to QR3.21mn compared to QR9.9mn on October 11.
The Arab institutions had no major net exposure for the third straight session.
Total trade volume in the main market rose 5% to 244.67mn shares, while value was down 6% to QR622.09mn and transactions by 21% to 12,068.
The venture market had seen volume, value and deals plummet 54.82%, 58.84% and 51.43% respectively.
In the main market, the real estate sector’s trade volume more than doubled to 59.98mn equities and value almost tripled to QR85.85mn on 82% increase in transactions to 1,525.
The consumer goods and services sector’s trade volume soared 59% to 60.01mn stocks and value almost doubled to QR149.65mn on 63% growth in deals to 2,231.
The banks and financial services sector saw 37% surge in trade volume to 33.41mn shares but on 18% shrinkage in value to QR168.54mn and 42% in transactions to 3,682.
However, the insurance’s sector’s trade volume plummeted 74% to 2.11mn equities, value by 72% to QR6.18mn and deals by 49% to 171.
There was 47% plunge in the transport sector’s trade volume to 7.09mn stocks, 22% in value to QR35.87mn and 20% in transactions to 571.
The industrials sector’s trade volume tanked 36% to 77.34mn shares, value by 39% to QR161.12mn and deals by 32% to 3,053.
The telecom sector reported 5% contractions in trade volume to 4.74mn equities, 15% in value to QR14.88mn and 34% in transactions to 835.