09/08/2016 08:22 AST
The Qatar Stock Exchange on Monday inched near the 11,000 mark mainly on the buying interests in the banking and telecom stocks.
More than 64% of the stocks extended gains as the 20-stock Qatar Index added 131 points, or 1.21%, to 10,920.29 points on higher trading turnover and volumes.
Foreign institutions’ increased buying lent support to the market, which is up 4.71% year-to-date.
The market has been gaining on the back of rebound in the oil market and also reflecting the positive sentiments in the global equities.
However, domestic institutions turned bearish and the buying interests of their Gulf counterparts weakened considerably in the bourse, where telecom, banking and real estate stocks constituted about 72% of the total trading volume.
Market capitalisation gained 1.1% or about QR7bn to QR585bn.
The Total Return Index gained 1.21% to 17,668.31 points, All Share Index by 1.05% to 3,008 points and Al Rayan Islamic Index by 1.19% to 4,187.1 points.
Banks and financial services stocks rose 1.84%, telecom (1.01%), realty (0.93%), industrials (0.53%), consumer goods (0.21%) and transport (0.16%); whereas insurance was down 0.05%.
Major gainers included Vodafone Qatar, QNB, Industries Qatar, Qatar Islamic Bank, Commercial Bank, Barwa, United Development Company and Mazaya Qatar; even as Dlala and Ooredoo were seen bucking the trend.
Non-Qatari institutions’ net buying strengthened to QR71.9mn against QR15.18mn the previous day.
Local retail investors’ net buying weakened considerably to QR8.36mn compared to QR23.4mn on August 7.
However, domestic institutions’ net selling increased perceptibly to QR55.24mn against QR3.89mn on Sunday.
Non-Qatari individual investors’ net selling rose to QR11.47mn compared to QR10.66mn the previous day.
The GCC (Gulf Cooperation Council) retail investors turned net profit takers to the tune of QR7.75mn against net buyers of QR0.82mn on August 7.
The GCC institutions’ net buying shrank to QR10.91mn compared to QR21.95mn08mn on Sunday.
Total trade volume rose 74% to 11.66mn shares, value by 86% to QR509.6mn and deals by 26% to 5,411.
The real estate sector’s trade volume more than doubled to 2.66mn equities and value also more than doubled to QR62.07mn on 54% jump in transactions to 926.
The banks and financial services sector saw 75% surge in trade volume to 2.78mn stocks, 95% in value to QR164.65mn and 49% in deals to 1,902.
The telecom sector’s trade volume soared 71% to 2.95mn shares, value by 42% to QR75.16mn and transactions by 12% at 843.
There was 56% expansion in the transport sector’s trade volume to 0.67mn equities and 46% in value to QR24.64mn but on 7% fall in deals to 313.
The insurance sector’s trade volume shot up 50% to 0.12mn stocks, value by 45% to QR7.82mn and transactions by 17% to 149.
The market witnessed 49% increase in the consumer goods sector’s trade volume to 2.07mn shares and more than doubled value to QR151.99mn on mere 2% rise in deals to 933.
The industrials sector’s trade volume grew 18% to 0.4mn equities, value by 31% to QR23.27mn and transactions by 26% to 345.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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