The Qatar Stock Exchange (QSE) continued to remain on a bullish trajectory for the second day yesterday as it crossed the 11,600 points, reflecting the cabinet nod for a higher up to 100% foreign ownership in four local banks.
Local retail investors were seen net buyers as the 20-stock Qatar Index rose about 51 points or 0.44% to 11,603.03 points, recovering from an intraday low of 11,526 points.
Welcoming the cabinet approval to increase non-Qatari ownership in four local banks up to 100%; QSE chief executive Rashid bin Ali al-Mansoori said “this will contribute to increasing foreign investment flows and will enhance the status of the Qatari banking sector, which is already robust and profitable.”
The Gulf institutions also turned bullish in the market, whose year-to-date gains were at 11.13%.
The Islamic index nevertheless declined vis-à-vis gains in the other indices in the bourse, which also saw the Arab individuals turn net buyers.
The foreign individuals were net buyers, albeit at lower levels, in the market, whose capitalisation saw about QR6bn or 0.89% increase to QR669.3bn, mainly on large cap segments.
The foreign funds were however seen net profit takers in the bourse, where the banking sector alone constituted about 56% of the total trading volume.
The overall trade turnover grew amidst lower volumes in the main market, which saw a total of 23,674 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR215,799 trade across six deals.
The domestic institutions were increasingly net sellers in the bourse, which saw as many as 232,150 government bonds valued at QR2.34mn change hands across five transactions.
The Total Return Index gained 0.44% to 22,968.89 points and the All Share Index by 0.8% to 3,682.71 points, while the Al Rayan Islamic Index (Price) fell 0.22% to 2,581.49 points.
The insurance index tanked 1.91%, banks and financial services (1.08%), industrials (0.92%) and realty (0.18%); while transport declined 1.03%, telecom (0.17%) and consumer goods and services (0.01%).
Major gainers in the main market included Qatar Insurance, QNB, Industries Qatar, Aamal Company, Qatar General Insurance and Reinsurance, Mesaieed Petrochemical Holding, Mazaya Qatar and Widam Food.
Nevertheless, Masraf Al Rayan, Nakilat, Qatari German Medical Devices, Al Khaleej Takaful, Gulf International Services, Qamco and Vodafone Qatar were among the losers in the main market.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value.
Qatari individuals turned net buyers to the tune of QR45.11mn against net sellers of QR60.56mn on December 1.
The Gulf funds were net buyers to the extent of QR17.86mn compared with net sellers of QR5.43mn on Wednesday.
The Arab individuals turned net buyers to the tune of QR9.09mn against net sellers of QR0.52mn the previous day.
The foreign individuals were net buyers to the extent of QR0.66mn compared with net sellers of QR2.67mn on December 1.
However, the domestic funds’ net profit booking grew considerably to QR62.86mn against QR19.99mn the previous day.
The foreign funds turned net sellers to the tune of QR9.42mn compared with net buyers of QR88.41mn on Wednesday.
The Gulf individuals were net sellers to the extent of QR0.44mn against net buyers of QR0.31mn on December 1.
The Arab institutions had no major net exposure compared with net buyers of QR0.43mn on Wednesday.
Total trade volume in the main market fell 16% to 194.85mn shares, while value rose 31% to QR802.59mn and transactions by 18% to 20,491.
The insurance sector’s trade volume jumped more than 15-fold to 8.85mn equities and value by more than 13-fold to QR22.83mn on more-than-quadrupled deals to 421.
The telecom sector’s trade volume almost doubled to 3.61mn stocks and value more than quadrupled to QR21.53mn on more-than-seven-fold growth in transactions to 2,104.
The transport sector reported a 44% surge in trade volume to 3.55mn shares, 50% in value to QR19.12mn and 47% in deals to 637.
The banks and financial services sector’s trade volume shot up 40% to 108.46mn equities, value by 71% to QR587.06mn and transactions by 2% to 11,742.
However, there was a 57% plunge in the industrials sector’s trade volume to 41.58mn stocks and 44% in value to QR102.37mn but on 13% rise in deals at 3,709.
The consumer goods and services sector’s trade volume plummeted 49% to 15.6mn shares, value by 31% to QR28.26mn and transactions by 14% to 883.
The real estate sector saw a 34% contraction in trade volume to 13.2mn equities and 20% in value to QR21.53mn but on 31% expansion in deals to 995.
In the venture market, volume was seen declining 73.61% amidst 55.11% zoom in value and 9.52% in transactions.
Local retail investors were seen net buyers as the 20-stock Qatar Index rose about 51 points or 0.44% to 11,603.03 points, recovering from an intraday low of 11,526 points.
Welcoming the cabinet approval to increase non-Qatari ownership in four local banks up to 100%; QSE chief executive Rashid bin Ali al-Mansoori said “this will contribute to increasing foreign investment flows and will enhance the status of the Qatari banking sector, which is already robust and profitable.”
The Gulf institutions also turned bullish in the market, whose year-to-date gains were at 11.13%.
The Islamic index nevertheless declined vis-à-vis gains in the other indices in the bourse, which also saw the Arab individuals turn net buyers.
The foreign individuals were net buyers, albeit at lower levels, in the market, whose capitalisation saw about QR6bn or 0.89% increase to QR669.3bn, mainly on large cap segments.
The foreign funds were however seen net profit takers in the bourse, where the banking sector alone constituted about 56% of the total trading volume.
The overall trade turnover grew amidst lower volumes in the main market, which saw a total of 23,674 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR215,799 trade across six deals.
The domestic institutions were increasingly net sellers in the bourse, which saw as many as 232,150 government bonds valued at QR2.34mn change hands across five transactions.
The Total Return Index gained 0.44% to 22,968.89 points and the All Share Index by 0.8% to 3,682.71 points, while the Al Rayan Islamic Index (Price) fell 0.22% to 2,581.49 points.
The insurance index tanked 1.91%, banks and financial services (1.08%), industrials (0.92%) and realty (0.18%); while transport declined 1.03%, telecom (0.17%) and consumer goods and services (0.01%).
Major gainers in the main market included Qatar Insurance, QNB, Industries Qatar, Aamal Company, Qatar General Insurance and Reinsurance, Mesaieed Petrochemical Holding, Mazaya Qatar and Widam Food.
Nevertheless, Masraf Al Rayan, Nakilat, Qatari German Medical Devices, Al Khaleej Takaful, Gulf International Services, Qamco and Vodafone Qatar were among the losers in the main market.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value.
Qatari individuals turned net buyers to the tune of QR45.11mn against net sellers of QR60.56mn on December 1.
The Gulf funds were net buyers to the extent of QR17.86mn compared with net sellers of QR5.43mn on Wednesday.
The Arab individuals turned net buyers to the tune of QR9.09mn against net sellers of QR0.52mn the previous day.
The foreign individuals were net buyers to the extent of QR0.66mn compared with net sellers of QR2.67mn on December 1.
However, the domestic funds’ net profit booking grew considerably to QR62.86mn against QR19.99mn the previous day.
The foreign funds turned net sellers to the tune of QR9.42mn compared with net buyers of QR88.41mn on Wednesday.
The Gulf individuals were net sellers to the extent of QR0.44mn against net buyers of QR0.31mn on December 1.
The Arab institutions had no major net exposure compared with net buyers of QR0.43mn on Wednesday.
Total trade volume in the main market fell 16% to 194.85mn shares, while value rose 31% to QR802.59mn and transactions by 18% to 20,491.
The insurance sector’s trade volume jumped more than 15-fold to 8.85mn equities and value by more than 13-fold to QR22.83mn on more-than-quadrupled deals to 421.
The telecom sector’s trade volume almost doubled to 3.61mn stocks and value more than quadrupled to QR21.53mn on more-than-seven-fold growth in transactions to 2,104.
The transport sector reported a 44% surge in trade volume to 3.55mn shares, 50% in value to QR19.12mn and 47% in deals to 637.
The banks and financial services sector’s trade volume shot up 40% to 108.46mn equities, value by 71% to QR587.06mn and transactions by 2% to 11,742.
However, there was a 57% plunge in the industrials sector’s trade volume to 41.58mn stocks and 44% in value to QR102.37mn but on 13% rise in deals at 3,709.
The consumer goods and services sector’s trade volume plummeted 49% to 15.6mn shares, value by 31% to QR28.26mn and transactions by 14% to 883.
The real estate sector saw a 34% contraction in trade volume to 13.2mn equities and 20% in value to QR21.53mn but on 31% expansion in deals to 995.
In the venture market, volume was seen declining 73.61% amidst 55.11% zoom in value and 9.52% in transactions.
