The Qatar Stock Exchange rose for the second straight session by more than 36 points to cross 10,300 levels, mainly led by telecom equities.
Local retail investors’ weakened net selling pressure helped the 20-stock Qatar Index gain 0.35% to 10,328.48 points, amidst technical hitch that truncated the trading session.
However, there was higher selling pressure from domestic institutions and weakened buying interests of foreign funds in the market, which is up 21.18% year-to-date.
Market capitalisation rose more than QR2bn or 0.36% to QR583.82bn, mainly on account of large cap equities.
Islamic equities were however seen declining vis-à-vis gains in other indices in the market, where Gulf funds and individuals were increasingly bearish.
Trade turnover shrank amidst higher volumes in the bourse, where banking, telecom and real estate sectors together accounted for more than 78% of the total volume.
The Total Return Index gained 0.35% to 18,197.63 points and All Share Index by 0.28% to 3,070.63 points, while Al Rayan Islamic Index (Price) was down 0.05% to 2,399 points.
The telecom index soared 2.13%, banks and financial services (0.46%), transport (0.23%) and realty (0.18%); whereas insurance declined 0.88%, consumer goods (0.12%) and industrials (0.11%).
About 63% of the traded stocks extended gains with major gainers being Ooredoo, Vodafone Qatar, Dlala, Qatar Oman Investment, QNB, Doha bank and Industries Qatar; while Qatar National Cement, Zad Holding, Barwa, United Development Company, Aamal Company, Qatar Electricity and Water and Qatari Investors Group were among the losers.
Local individuals’ net selling declined influentially to QR7.9mn compared to QR37.05mn on November 21.
However, non-Qatari institutions’ net buying weakened significantly to QR42.51mn against QR60.76mn on Wednesday.
Domestic funds’ net profit booking grew perceptibly to QR28.48mn compared to QR21.05mn the previous day.
Non-Qatari individuals’ net selling strengthened marginally to QR3.2mn against QR2.2mn on November 21.
The Gulf institutions’ net profit booking grew impressively to QR2.62mn compared to QR0.45mn on Wednesday.
The Gulf individuals’ net selling increased marginally to QR0.29mn against QR0.02mn the previous day.
Total trade volume rose 3% to 4.3mn shares, while value fell 12% to QR147.36mn and transactions by 15% to 3,064.
The transport sector’s trade volume grew almost six-fold to 0.28mn equities and value more than tripled to QR5.4mn on 72% increase in deals to 141.
The telecom sector reported 64% surge in trade volume to 0.95mn stocks, 82% in value to QR11.58mn and 91% in transactions to 356.
The consumer goods sector’s trade volume soared 22% to 0.22mn shares and value more than doubled to QR16.56mn, while deals declined 12% to 249.
However, the insurance sector’s trade volume plummeted 69% to 0.04mn equities, value by 62% to QR1.38mn and transactions by 63% to 33.
There was 24% plunge in the real estate sector’s trade volume to 0.93mn stocks and 22% in value to QR22.56mn but on 12% jump in deals to 805.
The industrials sector’s trade volume tanked 21% to 0.41mn shares, value by 48% to QR11.96mn and transactions by 49% to 356.
The banks and financial services sector saw 1% fall in trade volume to 1.48mn equities, 19% in value to QR73.91mn and 27% in deals to 1,124.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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