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Qatar Stock Exchange surpassed the 9,900 mark, amid shallow trading, mainly on weakened net selling domestic institutions and buying interests of Gulf individual investors.
Led by banking and realty counters, the 20-stock Qatar Index rose 0.4% to 9,924.47 points despite lower trading turnover and volumes in view of summer and Eid holidays.
Islamic stocks were seen gaining slower than the conventional ones in the market, which is however down 4.84% year-to-date.
However, foreign institutions’ net buying considerably weakened and their Gulf counterparts turned marginally bearish in the market, where industrials and banking stocks constituted about 62% of the total trading volume.
Market capitalisation expanded 0.42% or more than QR2bn to QR534.94bn.
The Total Return Index rose 0.4% to 16,057.14 points and All Share Index by 0.34% to 2,759.31 points and Al Rayan Islamic Index by 0.2% to 3,830.08 points.
Banks and financial services stocks gained 0.79%, real estate (0.61%), industrials (0.26%) and consumer goods (0.16%); whereas insurance, transport and telecom fell 1.62%, 0.3% and 0.04% respectively.
Among the major movers included QNB, Industries Qatar, Ezdan, Mazaya Qatar, Vodafone Qatar, Nakilat, al khaliji and Widam Food; even as Gulf International Services, Mesaieed Petrochemical Holding, Ooredoo, Milaha, Barwa, Qatar Insurance and United Development Company bucked the trend.
Domestic institutions’ net selling weakened perceptibly to QR7.15mn compared to QR22.23mn last Thursday.
The GCC (Gulf Cooperation Council) retail investors turned net buyers to the tune of QR8.42mn against net sellers of QR2.12mn on June 30.
Local retail investors’ net profit booking fell to QR12.82mn compared to QR14.14mn the previous trading day.
However, non-Qatari institutions’ net buying weakened considerably to QR19.02mn against QR33.77mn last Thursday.
The GCC institutions turned net sellers to the tune of QR0.79mn compared with net buyers of QR9.01mn on June 30.
Non-Qatari individual investors’ net profit booking increased to QR6.66mn against QR4.32mn the previous trading day.
Total trade volume fell 59% to 1.68mn shares, value by 55% to QR67.24mn and deals by 52% to 1,232.
The transport sector saw 87% plunge in trade volume to 0.04mn equities, 83% in value to QR1.75mn and 80% in transactions to 38.
The real estate sector’s trade volume plummeted 83% to 0.17mn stocks, value by 83% to QR3.66mn and deals by 63% to 162.
There was 82% shrinkage in the insurance sector’s trade volume to 0.02mn shares, 84% in value to QR1.25mn and 55% in transactions to 40.
The telecom sector’s trade volume tanked 72% to 0.28mn equities, value by 59% to QR6.25mn and deals by 42% to 218.
The banks and financial services sector witnessed 57% decline in trade volume to 0.4mn stocks, 67% in value to QR15.53mn and 57% in transactions to 318.
The consumer goods sector’s trade volume shrank 28% to 0.13mn shares, value by 25% to QR9.61mn and deals by 19% to 156.
However, the market witnessed 12% increase in the industrials sector’s trade volume to 0.64mn equities but on 16% fall in value to QR29.18mn and 43% in transactions to 300.
In the debt market, there was no trading of treasury bills and government bonds.
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