The Qatar Stock Exchange on Wednesday saw Islamic equities outperform as the main barometer gained 60 points to inch towards the 11,900 levels, mainly lifted by the foreign funds’ increased net buying.
The real estate, transport, industrials and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.5% to 11,885.89, although it touched an intraday high of 11,902 points.
The Arab individuals were seen net buyers in the market, whose year-to-date gains were at 13.89%.
About 62% of the traded constituents extended gains in the market, whose capitalisation saw about QR3bn or 0.43% increase to QR685.73n, mainly owing to midcap segments.
The foreign individuals net selling weakened in the bourse, where the industrials sector alone constituted more than 50% of the total trading volume.
The overall trade turnover and volumes were on the increase in the main market, where local retail investors were increasingly net sellers.
The domestic funds were also seen increasingly into net profit booking in the market, which saw a total of 170,499 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR791,202 change hands across 20 deals.
The Total Return Index gained 0.5% to 23,528.84points, All Share Index by 0.42% to 3,758.69 points and Al Rayan Islamic Index (Price) by 0.61% to 2,651.86 points in the market, which saw no trading of sovereign bonds and treasury bills.
The realty sector index soared 0.82%, transport (0.75%), industrials (0.7%), consumer goods and services (0.55%), banks and financial services (0.28%) qand insurance (0.25%); while telecom declined 0.31%.
Major movers included Gulf International Services, Aamal Company, Masraf Al Rayan, Qatari Investors Group, United Development Company, Doha Bank, Inma Holding, Woqod, Qatar Industrial Manufacturing, Mesaieed Petrochemical Holding, Ezdan and Nakilat.
Nevertheless, Dlala, Qatar Cinema and Film Distribution, Qatar General Insurance and Reinsurance, Qatar Islamic Bank and Ooredoo were among the losers in the main market. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares lose steam.
The foreign institutions’ net buying increased considerably to QR75.98mn against QR41.46mn on November 2.
The Arab individuals turned net buyers to the tune of QR4.47mn compared with net sellers of QR9.04mn on Tuesday.
The foreign individuals’ net selling declined perceptibly to QR2.32mn against QR3.93mn the previous day.
However, Qatari individuals’ net selling grew substantially to QR46.79mn compared to QR21.91mn on November 2.
The domestic funds’ net selling strengthened drastically to QR34.54mn against QR11.43mn on Tuesday.
The Gulf individuals were net sellers to the extent of QR0.66mn compared with net buyers of QR0.61mn the previous day.
The Gulf institutions’ net buying weakened marginally to QR3.83mn against QR4.24mn on November 2.
The Arab institutions continued to have no major net exposure for the fifth straight session.
Total trade volume in the main market grew 18% to 258.08mn shares, value by 26% to QR755.19mn and transactions by 22% to 15,879.
The telecom sector’s trade volume soared 80% to 5.93mn equities, value by 72% to QR23.76mn and deals by 74% to 1,143.
The banks and financial services sector saw 71% surge in trade volume to 53.63mn stocks, 77% in value to QR296.79mn and 40% in transactions to 6,785.
The consumer goods and services sector’s trade volume shot up 23% to 33.51mn shares, whereas value shrank 7% to QR48.86mn and deals by 6% to 1,091.
The market witnessed 9% jump in the real estate sector’s trade volume to 21.36mn equities, 16% in value to QR32.86mn and 3% in transactions to 822.
The industrials sector’s trade volume was up 7% to 129.95mn stocks, value by 5% to QR265.22mn and deals by 17% to 4,648.
However, there was 33% plunge in the insurance’s sector’s trade volume to 1mn shares and 22% in value to QR3.08mn but on 5% growth in transactions to 176.
The transport sector’s trade volume tanked 11% to 13.41mn equities, while value was up 4% to QR84.62mn amidst 13% lower deals at 1,244.
In the venture market, volume gained more than nine-fold and value by about 13-fold on five-fold increase in transactions.