Foreign institutions turned extremely bullish on the Qatar Stock Exchange, which reopened on Sunday after a week-long Eid holidays but rose only by 38 points.
Led by telecom sector, the 20-stock Qatar Index rose 0.36% to 10,572.45 points. The market’s year-to-date gains have edged up to 1.37%.
Large-cap equities witnessed some buying interests at the bourse, where banking, realty and industrials stocks together accounted for more than 76% of the total volumes.
Islamic stocks were seen declining vis-à-vis gains in the conventional peers in the market, where local individual investors and domestic institutions were notably net sellers.
Market capitalisation rose 0.22%, or more than QR1bn, to QR566.45bn mainly on a 0.57% jump in large-cap equities; even as micro, small and midcaps fell 1.58%, 1.04% and 0.25% respectively.
The Total Return Index gained 0.36% to 17,105.52 points and the All Share Index by 0.29% to 2,915.21 points; while the Al Rayan Islamic Index fell 0.23% to 3,978.41 points.
Telecom stocks shot up 2.74%, followed by insurance (0.99%), realty (0.89%), banks and financial services (0.31%) and transport (0.22%); whereas industrials and consumer goods shrank 0.83% and 0.45% respectively.
More than 64% of the stocks were in the red with major influential losers being Ooredoo, Qatar Insurance, Barwa, Ezdan, Qatari Investors Group, QNB and Nakilat; while Industries Qatar, Aamal Company, Mesaieed Petrochemical Holding, Gulf International Services, Mazaya Qatar, United Development Company and Alijarah Holding bucked the trend.
Non-Qatari institutions turned net buyers to the tune of QR405.81mn against net sellers of QR80.16mn on September 8.
However, domestic institutions turned net sellers to the extent of QR290.81mn compared with net buyers of QR62.91mn the previous trading day.
Local retail investors were also net sellers to the tune of QR48.56mn against net buyers of QR47.79mn last trading Thursday.
GCC (Gulf Cooperation Council) institutions’ net selling increased to QR62.27mn compared to QR45.8mn on September 8.
GCC individual investors turned net profit takers to the extent of QR5.15mn against net buyers of QR3.87mn the previous trading day.
Non-Qatari individual investors’ net buying weakened to QR0.97mn compared to QR11.43mn last trading Thursday.
Total trade volume rose 42% to 13.67mn shares and value by 60% to QR695.72mn, while deals were down 10% to 6,201.
The banks and financial services sector saw a 74% surge in trade volume to 5.52mn equities and 82% in value to QR349.06mn but on 10% fall in transactions to 2,013.
The transport sector’s trade volume soared 67% to 1.27mn stocks and value by 66% to QR34.56mn but on a 6% decline in deals to 456.
There was a 40% expansion in the real estate sector’s trade volume to 2.99mn shares and 41% in value to QR69.65mn but on a 36% shrinkage in transactions to 862.
The industrials sector’s trade volume increased 18% to 1.92mn equities, value by 37% to QR136.92mn and deals by 7% to 1,591.
The market witnessed a 5% jump in the insurance sector’s trade volume to 0.22mn stocks, 3% in value to QR17.98mn and 23% in transactions to 285.
The telecom sector’s trade volume was up 3% to 1.44mn shares, value by 85% to QR73.25mn and deals by 1% to 828.
However, the consumer goods sector reported a 6% decline in trade volume to 0.3mn equities, 9% in value to QR14.3mn and 46% in transactions to 166.
In the debt market, there was no trading of treasury bills and government bonds.