Qatar Stock Exchange on Sunday opened the week on a stronger note and its key index inched near the 11,200 mark, mainly lifted by banking and industrials segments.
Foreign institutions were increasingly net buyers and their Gulf counterparts turned bullish as the 20-stock Qatar Index gained 0.56% or 63 points to 11,197.48 points.
Islamic stocks were seen gaining slower than the conventional ones in the market, where trading turnover declined amidst higher volumes.
Some of the large cap stocks witnessed higher in demand in the bourse, which is up 7.36% year-to-date.
However, local and Gulf individual investors turned bearish in the market, where industrials, banking and realty stocks together constituted more than 81% of the total trading volume.
Market capitalisation rose 0.52% or more than QR3bn to QR598.6bn.
The Total Return Index gained 0.56% to 18,116.78 points, All Share Index by 0.43% to 3,074.22 points and Al Rayan Islamic Index by 0.09% to 4,210.13 points.
Banks and financial services equities expanded 0.74%, industrials (0.72%), transport (0.11%), telecom (0.08%) and real estate (0.04%); whereas insurance and consumer goods fell 0.25% and 0.2% respectively.
Major gainers included QNB, Doha Bank, Industries Qatar, Aamal Company, Qatar Electricity and Water, Gulf International Services, Qatar Insurance, Mazaya Qatar, United Development Company, Ooredoo and Nakilat; even as Commercial Bank, Barwa, Vodafone Qatar and Qatari Investors Group bucked the trend.
Non-Qatari institutions’ net buying strengthened to QR27.37mn compared to QR22.45mn the previous trading day.
The GCC (Gulf Cooperation Council) institutions turned net buyers to the tune of QR2.41mn against net sellers of QR1.08mn last Thursday.
Non-Qatari individual investors were also net buyers to the extent of QR0.54% compared with net sellers of QR2.68mn on August 25.
Domestic institutions’ net profit booking weakened to QR22.12mn against QR25.9mn the previous trading day.
However, local retail investors turned net sellers to the tune of QR7.67mn compared with net buyers of QR6.79mn last Thursday.
The GCC individual investors were also net profit takers to the extent of QR0.53mn against net buyers of QR0.41mn on August 25.
Total trade volume rose 7% to 4.28mn shares, while value fell 8% to QR164.86mn and deals by 16% to 2,966.
The industrials sector’s trade volume almost doubled to 1.55mn equities, whereas value declined 5% to QR45mn and transactions by 6% to 856.
There was 15% surge in the real estate sector’s trade volume to 0.78mn stocks, 7% in value to QR15.93mn and 18% in deals to 439.
The banks and financial services sector’s trade volume soared 14% to 1.14mn shares and value by 9% to QR61.24mn, while transactions shrank 16% to 833.
However, the transport sector saw 63% plunge in trade volume to 0.09mn equities, 63% in value to QR3.48mn and 47% in deals to 120.
The telecom sector’s trade volume plummeted 49% to 0.46mn stocks, value by 13% to QR21.87mn and transactions by 25% to 408.
The consumer goods sector’s trade volume tanked 47% to 0.16mn shares, value by 39% to QR11mn and deals by 58% to 161.
Although the insurance sector’s trade volume was flat at 0.1mn equities, there was 26% shrinkage in value to QR6.35mn but on 16% expansion in transactions to 149.
In the debt market, there was no trading of treasury bills and government bonds.