Buying interests – especially within banks, insurance, telecom and industrials – led the 20-stock Qatar Index to expand 0.72% for the third straight session to 10,509.79 points, as global crude prices firmed up on expectations of a deal on production by the Organisation of the Petroleum Exporting Countries.
Islamic stocks were seen gaining slower than the conventional ones in the market, where trading turnover and volumes were also on the increase.
Lower selling pressure from domestic institutions also helped the bourse, which has reported 0.77% gains year-to-date.
However, local retail investors were increasingly net profit takers and Gulf institutions turned bearish in the market, where telecom, industrials and banking stocks accounted for more than 81% of the total volumes.
Market capitalisation rose 0.75%, or more than QR4bn, to QR563.56bn as large, micro and midcap equities gained 0.91%, 0.53% and 0.38% respectively; while small caps were down 0.07%.
The Total Return Index gained 0.72% to 17,004.14 points, the All Share Index by 0.68% to 2,896.66 points and the Al Rayan Islamic Index by 0.44% to 3,949.51 points.
Banks and financial services stocks appreciated 0.93%, followed by telecom and insurance (0.88% each), industrials (0.75%), transport (0.43%) and real estate (0.33%); while consumer goods fell 0.38%.
As much as 65% of the traded equities extended gains with major movers being QNB, Qatar Insurance, Industries Qatar, Vodafone Qatar, Nakilat, Commercial Bank, Doha Bank, Masraf Al Rayan, al khaliji, Alijarah Holding, Gulf International Services, Ezdan, and Ooredoo; even as Mazaya Qatar, Barwa, United Development Company and Islamic Holding Group bucked the trend.
Non-Qatari institutions’ net buying increased perceptibly to QR62.72mn against QR31.67mn on September 25.
Domestic institutions’ net selling weakened to QR31.16mn compared to QR44.9mn the previous day.
However, local retail investors’ net profit-booking strengthened to QR16.01mn against QR4.61mn on Sunday.
GCC (Gulf Cooperation Council) individual investors’ net buying fell to QR1.16mn compared to QR4.04mn on September 25.
GCC institutions were net sellers to the tune of QR14.06mn against net buyers of QR14.16mn the previous day.
Non-Qatari individual investors’ net profit-booking increased to QR2.65mn compared to QR0.36mn on Sunday.
Total trade volume rose 63% to 6.18mn shares, value by 33% to QR236.78mn and deals by 70% to 3,639.
The telecom sector’s trade volume grew more than seven-fold to 1.9mn equities and value more than tripled to QR33.28mn on more-than-tripled transactions to 690.
The insurance sector’s trade volume more than doubled to 0.08mn stocks and value also more than doubled to QR6.09mn on a 46% jump in deals to 117.
The real estate sector saw a 47% surge in trade volume to 0.75mn shares, 32% in value to QR19.15mn and 27% in transactions to 482.
The banks and financial services sector’s trade volume soared 41% to 1.54mn equities and value by 63% to QR73.71mn on more-than-doubled deals to 1,201.
There was a 14% increase in the transport sector’s trade volume to 0.25mn stocks and 30% in value to QR7.21mn on more-than-doubled transactions to 265.
However, the consumer goods sector’s trade volume declined 9% to 0.1mn shares and value by 44% to QR4.57mn; while deals rose 17% to 187.
Although the industrials sector’s trade volume was flat at 1.57mn equities, there was a 1% rise in value to QR92.77mn and 15% in transactions to 697.
In the debt market, there was no trading of treasury bills and government bonds.