The Qatar Stock Exchange on Wednesday gained for the second straight session to inch near 9,900 levels, mainly on strong buying, especially at the real estate, telecom and industrials counters.
Increased buying interests of domestic institutions further lifted the 20-stock Qatar Index by 0.67% to 9,864.26 points.
The Gulf individuals were also seen marginally bullish in the market, whose sensitive index is down 4.22% year-to-date.
Market capitalisation gained more than QR6bn, or 1.13%, to QR549.37bn mainly owing to large and small cap segments.
Islamic equities were seen gaining faster than the main index in the market, where local retail investors were increasingly net sellers.
Trade turnover shrank amidst higher volumes in the bourse, where the industrials, real estate and banking sectors together accounted for more than 77% of the total volume.
The Total Return Index rose 0.67% to 18,151.07 points, the Al Rayan Islamic Index (Price) by 1.18% to 2,281.87 points and the All Share Index by 1.2% to 2,962.45 points.
The realty index surged 5.81%, telecom (2.6%), industrials (1.31%), insurance (0.62%), transport (0.45%), banks and financial services (0.24%) and consumer goods (0.07%).
About 67% of the traded constituents extended gains with major movers being Ezdan, Mazaya Qatar, Ooredoo, Vodafone Qatar, Mesaieed Petrochemical Holding, Gulf Warehousing, QIIB, Qatari German Company for Medical Devices, Mannai Corporation, Qatar National Cement and Barwa; even as Industries Qatar, Nakilat, Woqod, Salam International Investment, Qatar Oman Investment and Doha Bank were among the losers.
Domestic institutions’ net buying increased significantly to QR41.16mn compared to QR28.6mn on Tuesday.
The Gulf individuals’ net buying strengthened perceptibly to QR0.23mn against QR0.06mn the previous day.
However, non-Qatari institutions’ net selling grew marginally to QR23.45mn compared to QR22.19mn on May 15.
Local retail investors’ net profit booking rose noticeably to QR14.88mn against QR11.06mn on Tuesday.
Non-Qatari individuals turned net sellers to the tune of QR2.51mn compared with net buyers of QR3.83mn the previous day.
The Gulf institutions were also net profit takers to the extent of QR0.55mn against net buyers of QR0.69mn on May 15.
Total trade volume grew 3% to 24.72mn shares, value by 27% to QR456.3mn and transactions by 26% to 9,847.
The consumer goods sector’s trade volume more than tripled to 2.94mn equities, while value declined 51% to QR69.94mn and deals by 22% to 902.
The telecom sector’s trade volume more than doubled to 2.16mn stocks and value soared 46% to QR18.94mn but on a 4% fall in transactions to 553.
The banks and financial services sector saw a 42% surge in trade volume to 4.93mn shares but on a 22% decline in value to QR129.02mn and 6% in deals to 2,545.
However, the transport sector’s trade volume plummeted 56% to 0.28mn equities, value by 60% to QR6.77mn and transactions by 45% to 245.
There was a 33% plunge in the realty sector’s trade volume to 5.24mn stocks, 33% in value to QR54.47mn and 56% in deals to 1,635.
The insurance sector’s trade volume tanked 19% to 0.21mn shares, value by 22% to QR6.16mn and transactions by 23% to 234.
There was an 8% shrinkage in the industrials sector’s trade volume to 8.95mn equities, 15% in value to QR171mn and 15% in deals to 3,733.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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