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The Qatar Stock Exchange was back in the positive trajectory on Thursday, gaining as much as 168 points to inch near the 11,700 mark, mainly lifted by weakened selling pressure from local retail investors and foreign institutions.
Buying interests were intense particularly in the transport, telecom, industrials and banking counters, helping the 20-stock Qatar Index surge 1.46% to 11,699.03 points as trade volumes also expanded.
Large and mid cap stocks were seen higher in demand in the bourse, which is however down 4.78% year-to-date.
Domestic institutions, the Gulf Cooperation Council (GCC) retail investors and institutions and non-Qatari individuals were seen exerting selling pressure in the market, where banking and real estate stocks accounted for more than 68% of the total trading volume.
Market capitalisation expanded 1.27% or about QR8bn to QR632.44bn with large, mid, micro and small cap stocks gaining 1.6%, 1.1%, 0.71% and 0.59% respectively.
The Total Return Index rose 1.46% to 18,179.38 points, All Share Index by 1.24% to 3,130.24 points and Al Rayan Islamic Index by 1.31% to 4,304.68 points.
Transport stocks soared 1.6%, telecom (1.56%), industrials (1.51%), banks and financial services (1.5%), realty (0.77%) and consumer goods (0.54%); while insurance fell 0.69%.
More than 85% of the stocks saw value appreciation with major gainers being QNB, Industries Qatar, Ooredoo, Commercial Bank, Doha Bank, Alijarah Holding, Aamal, Gulf International Services, Mazaya Qatar, Barwa, United Development Company, Ezdan and Nakilat; whereas Qatar General and Reinsurance bucked the trend.
Local retail investors’ net profit booking sunk to QR9.34mn against QR32.2mn the previous day.
Non-Qatari institutions’ net buying strengthened to QR28.82mn compared to QR12.62mn on Wednesday.
However, domestic institutions turned net sellers to the tune of QR5.68mn against net buyers of QR8.66mn on April 1.
The GCC individual investors also turned net sellers to the extent of QR0.57mn compared with net buyers of QR14.2mn the previous day.
The GCC institutions’ net profit booking strengthened to QR6.66mn against QR3.19mn on Wednesday.
Non-Qatari individual investors’ net selling rose to QR6.6mn compared to QR0.23mn on April 1.
Total trade volume rose 58% to 7.93mn shares, value by 20% to QR338.23mn and transactions by 22% to 4,467.
The banks and financial services sector’s trade volume more than doubled to 2.94mn equities, value gained 38% to QR126.78mn and deals by 78% to 1,480.
The transport sector’s trade volume also more than doubled to 0.25mn stocks, value rose 73% to QR10.7mn and transactions by 39% to 202.
The insurance sector’s trade volume doubled to 0.08mn shares, value expanded 44% to QR4.02mn and deals by 24% to 72.
The consumer goods sector witnessed 88% jump in trade volume to 0.47mn equities but on 50% decline in value to QR14.98mn and 26% in transactions to 353.
The market witnessed 37% expansion in the telecom sector’s trade volume to 0.71mn stocks, 44% in value to QR18.99mn and 80% in deals to 540.
The real estate sector saw its trade volume surge 32% to 2.49mn shares, value by 65% to QR84.41mn and transactions by 12% to 799.
The industrials sector’s trade volume was up 11% to 0.99mn equities whereas value fell 11% to QR78.36mn and deals by 11% to 1,021.
In the debt market, there was no trading of treasury bills and government bonds.
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