Higher demand, especially for Islamic equities, was seen yesterday in the Qatar Stock Exchange as its key barometer once again crossed the 9,300 levels.
Foreign institutions and local retail investors were seen bullish as the 20-stock Qatar Index settled 0.23% higher at 9,319.4 points, although it touched a high of 9,340 points intraday.
The insurance and telecom counters witnessed higher than average demand in the bourse, whose year-to-date losses were at 10.61%.
Market capitalisation saw QR39mn or 0.07% increase to QR543.66bn mainly owing to microcap segments.
Trade turnover and volumes were on the increase in the market, where the industrials, consumer goods and banking sectors together accounted for about 76% of the total trading volume.
The Total Return Index gained 0.23% to 17,916.23 points, Al Rayan Islamic Index (Price) by 1.26% to 2,121.66 points and All Share Index by 0.16% to 2,909.87 points.
The insurance index shot up 2.21%, telecom (2.2%), industrials (0.65%) and consumer goods and services (0.08%); while real estate shrank 0.57%, transport (0.52%) and banks and financial services (0.09%).
About 66% of the traded constituents extended gains with major movers being Qatar Insurance, Doha Insurance, Vodafone Qatar, Qamco, Aamal Company, Mesaieed Petrochemical Holding, Qatar Industrial Manufacturing, Medicare Group, Salam International Investment, Qatar German Company for Medical Devices, Qatar Oman Investment and Qatar First Bank.
Nevertheless, Baladna, Qatari Investors Group, Industries Qatar, Mannai Corporation, Widam Food, Dlala, al khaliji and QNB were among the losers.
Foreign institutions turned net buyers to the tune of QR9.78mn compared with net sellers of QR7mn on July 13.
Local retail investors were also net buyers to the extent of QR0.73mn against net sellers of QR0.4mn on Monday.
However, the Gulf institutions’ net selling increased perceptibly to QR6.97mn compared to QR5.63mn the previous day.
The Gulf individuals turned net sellers to the tune of QR2.2mn against net buyers of QR2.28mn on July 13.
Foreign individuals were net sellers to the extent of QR1.41mn compared with net buyers of QR1.93mn on Monday.
The Arab individuals turned net profit takers to the tune of QR0.86mn against net buyers of QR1.82mn the previous day.
Domestic funds’ net buying weakened significantly to QR0.79mn compared to QR7mn on July 13.
The Arab institutions continued to have no major exposure.
Total trade volumes rose 52% to 377.57mn shares, value by 7% to QR611.35mn and transactions by 35% to 12,512.
The insurance sector’s trade volume more than tripled to 15.25mn equities and value more than tripled to QR28.94mn on more than tripled deals to 664.
The industrials sector’s trade volume almost tripled to 124.71mn stocks and value almost doubled to QR134.32mn on almost doubled transactions to 3,329.
The telecom sector’s trade volume more than doubled to 26.67mn shares, value soared 87% to QR37.42mn and deals by 46% to 829.
There was 47% surge in the consumer goods and services sector’s trade volume to 81.27mn equities, 28% in value to QR126.7mn and 37% in transactions to 2,683.
The banks and financial services sector’s trade volume expanded 30% to 79.14n stocks, while value fell 19% to QR193.02mn despite 28% higher deals at 3,166.
However, there was 34% plunge in the real estate sector’s trade volume to 43.69mn shares, 37% in value to QR71.05mn and 36% in transactions at 1,275.
The transport sector’s trade volume tanked 13% to 6.84mn equities and 13% in value to QR19.91mn, whereas deals shot up 52% to 566.
In the debt market, there was no trading of sovereign bonds and treasury bills.