The Qatar Stock Exchange continued with its winning streak for the second straight session and its key index gained more than 47 points to surpass the 10,900 levels.
The industrials sector witnessed higher than average demand as the 20-stock Qatar Index settled 0.43% higher at 10,913.83 points, although it touched an intraday high of 10,934 points.
Foreign individuals were seen bullish and foreign funds continued to be net buyers but with lesser intensity in the market, whose year-to-date gains were at 4.58%.
The newly listed QLM constituted about 76% of the insurance sector’s trading volume in the bourse, whose capitalisation saw QR82mn or 0.13% increase to QR628.21bn, mainly on midcap segments.
Trade turnover and volumes were on the decline in the market, where the banking, industrials and realty sectors together accounted for about 69% of the total trading volume.
Islamic equities were seen gaining faster than the other indices in the bourse that saw local retail investors’ net selling pressure weaken considerably.
A total of 30,020 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR73,710 changed hands across six deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 0.43% to 20,981.48points, the Al Rayan Islamic Index (Price) by 0.66% to 2,465.43 points and the All Share Index by 0.17% to 3,341.23 points.
The industrials index soared 2.17%, insurance (0.56%), real estate (0.2%) and consumer goods and services (0.07%); while telecom shrank 0.77%, banks and financial services (0.46%) and transport (0.02%).
Major gainers included Industries Qatar, Qamco, Qatar General Insurance and Reinsurance, Qatar First Bank, Doha Insurance, Qatar Oman Investment, Qatari German Medical Devices and United Development Company; even as Qatar Islamic Insurance, QNB, Ooredoo, Investment Holding Group and Gulf International Services were among the losers.
Foreign individuals turned net buyers to the tune of QR5.25mn against net sellers of QR1.87mn on January 13.
Local retail investors’ net selling declined substantially to QR77.36mn compared to QR166.89mn the previous day.
However, the domestic funds turned net sellers to the tune of QR10.77mn against net buyers of QR47.46mn on Wednesday.
Arab individuals’ net selling increased to QR7.27mn compared to QR5.05mn on January 13.
Gulf institutions turned net sellers to the extent of QR5.69mn against net buyers of QR15.96mn the previous day.
Gulf individuals’ net profit booking grew markedly to QR0.44mn compared to QR0.01mn on Wednesday.
Arab institutions were net sellers to the tune of QR0.03mn against net buyers of QR0.08mn on January 13.
Foreign funds’ net buying decreased perceptibly to QR96.38mn compared to QR110.15mn the previous day.
Total trade volume fell 19% to 219.11mn shares, value by 33% to QR546.68mn and transactions by 31% to 10,009.
The insurance sector’s trade volume plummeted 58% to 17.11mn equities, value by 59% to QR60.59mn and deals by 65% to 1,327.
The realty sector reported a 43% plunge in trade volume to 44.91mn stocks, 39% in value to QR69.8mn and 41% in transactions to 1,602.
The banks and financial services sector’s trade volume tanked 14% to 57.05mn shares and value by 35% to QR227.34mn; whereas transactions were up 5% to 3,406.
There was a 13% shrinkage in the transport sector’s trade volume to 4.37mn equities, 15% in value to QR17.32mn and 2% in deals to 433.
The industrials sector’s trade volume was down less than 1% to 49.33mn stocks, while value rose 2% to QR99.9mn despite 6% lower transactions at 1,884.
However, the market witnessed a 67% surge in the telecom sector’s trade volume to 11.04mn shares but on a 37% contraction in value to QR26.01mn and 61% in deals to 566.
The consumer goods and services sector’s trade volume soared 55% to 35.3mn equities and value by 8% to QR45.72mn, while transactions were down 9% to 791.
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