Foreign institutions’ 142 millions net buying support on the Qatar Exchange …

Foreign institutions’ QR142mn net buying support yesterday extended the bullish spell on the Qatar Exchange for the fourth consecutive day as its key index inched near the 10,800 levels.
Although domestic institutions were heavily tilted towards profit-booking, the 20-stock Qatar Index gained 1.13% to 10,784.49 points.
Insurance, telecom and real estate stocks outperformed other major indices in the market, which is up 3.9% year-to-date.
Dividend expectations have been building up, which is extending support to the upward rally.
Local retail investors continued to be net sellers as they prepare to subscribe to the ongoing QR3.23bn initial public offer of Mesaieed Petrochemical Holding Company, a Qatar Petroleum unit.
Non-Qatari individual investors’ buying interests were seen reduced in the bourse, whose key index has been remaining above the 10,000-mark for the 38th consecutive day.
The 20-stock Total Return Index rose 1.13% to 15,408.56 points, the All Share Index (with wider constituents) by 0.96% to 2,671.73 and the Al Rayan Islamic Index by 0.75% to 3,174.82.
All the three indices factored in dividend income as well.
Insurance stocks shot up 4.05%, followed by telecom (1.36%), realty (1.27%), consumer goods (0.92%), banks and financial services (0.82%), transport (0.74%) and industrials (0.63%).
More than 68% of the stocks gained with influential movers being Commercial Bank, Qatar Islamic Bank, Doha Bank, International Islamic, Qatari Investors Group, Gulf International Services, Qatar Insurance Company, Barwa, Mazaya Qatar, Ooredoo and Nakilat.
However, Industries Qatar and United Development Company bucked the trend.
Market capitalisation expanded 0.72%, or more than QR4bn, to QR570.2bn. Small cap equities gained more than 2%, mid caps by about 2%, micro 0.68% and large gained 0.47%.
Foreign institutions’ net buying stood at QR141.76mn against QR26.45mn the previous day.
Non-Qatari institutions were sellers to the tune of QR23.57mn compared with net buyers of QR1.26mn on Sunday.
Qatari individual investors’ net selling was QR8.63mn against QR2.37mn the previous day.
Domestic institutions’ net selling amounted to QR109.63mn compared to QR25.39mn on Sunday.
Total trading volume gained 31% to 17.02mn stocks, value by 53% to QR770.41mn and transactions by 18% to 7,248.
The consumer goods sector’s trading volume shot up 68% to 1.24mn shares, value by 59% to QR67.51mn and deals by 38% to 755.
The insurance sector witnessed a 50% surge in trading volume to 0.27mn equities and 67% in value to QR17.06mn on more-than-doubled transactions to 184.
The telecom sector’s trading volume soared 48% to 1.38mn stocks on more-than-doubled value to QR36.05mn. Deals gained 33% to 414.
The banks and financial services sector reported a 41% jump in trading volume to 4.4mn shares, 90% in value to QR241.3mn and 28% in transactions to 2,194.
The transport sector’s trading volume expanded 33% to 1.28mn equities, value by 47% to QR39.84mn and deals by 6% to 361.
There was a 20% rise in industrials sector’s trading volume to 2.94mn stocks, 19% in value to QR216.23mn and 7% in transactions to 2,083.
The real estate sector’s trading volume rose 18% to 5.51mn shares and value by 52% to QR152.42mn on more than doubled deals to 1,257.
In the debt market, there was no trading of government bonds and treasury bills. Gulf Times

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