(MENAFN- Gulf Times) The increase in net purchases by foreign institutions on Wednesday lifted the Qatar Stock Exchange above 11,600 levels.
Bank and transport counters saw above-average demand, with the Qatar 20-stock index gaining more than 85 points or 0.74% to 11,606.92 points, recovering from an intraday low of 11. 534 points.
Gulf funds were seen as bullish on the stock market, with year-to-date gains improving to 11.22%.
More than 63% of the traded components extended their gains to investors in the market, whose capitalization increased by over QR 5 billion or 0.75% to QR 670.25 billion, mainly in the large cap segments.
The Islamic index rose more slowly than other stock market indices, where the industrial and banking sectors together made up over 65% of the total trading volume.
Overall turnover and trade volumes were increasing in the main market, where Arab institutions continued to be net buyers but with less intensity.
Nonetheless, local retail investors and national funds were increasingly bearish in the market, which saw a total of 33,842 exchange-traded funds (QETF sponsored by the Bank of Doha) valued at QR 380,749 change hands. out of six transactions.
The Total Return index gained 0.74% to 22,976.6 points, the Al Rayan Islamic (Price) index 0.5% to 2,629.29 points and the All Share index 0.78% to 3,665.26 points in the market, which saw no trading in sovereign bonds and treasury bills. .
The index of banks and financial services jumped 1.1%, transport (0.74%), manufacturers (0.62%), telecoms (0.22%), consumer goods and services ( 0.07%) and real estate (0.02%); while insurance gained 0.05%.
The main winners in the main market were Industries Qatar, QNB, Qatar Electricity and Water, Qatar National Cement, Nakilat, Investment Holding Group, Qatar Islamic Bank, Masraf Al Rayan, Doha Insurance, Al Khaliji and Salam International Investment. Mekdam and Al Faleh Educational Holding have both been winners in the venture capital market.
However, Ezdan, Qatar Industrial Manufacturing, Qatar Islamic Insurance, Mannai Corporation, Widam Food, and Qatar General Insurance and Reinsurance were among the losers in the main market.
Net purchases by foreign establishments rose sharply to QR 97.22 million from QR 61.54 million on October 5.
Gulf institutions turned net buyers of QR 19.32 million against net sellers of QR 1.18 million on Tuesday.
However, local retail investor net sales increased significantly to QR 66.58 million from QR 29.41 million the previous day.
The domestic fund net profit reservation increased significantly to QR 36.57 million, from QR 30.84 million on October 5.
Arab individuals were net sellers of QR 5.65 million against net buyers of QR 0.48 million on Tuesday.
The net sales of foreign individuals strengthened significantly to 5.23 mn QR against 1.75 mn QR the day before.
Gulf individuals turned net profit takers to the tune of QR 2.8 million against net buyers of QR 0.37 million on October 6.
Net purchases by Arab institutions edged down to QR 0.29 million from QR 0.8 million on Tuesday.
Total main market trading volume increased 19% to 226.22 million shares, value 30% to QR662.28 million, and trades 34% to 13,430.
The venture capital market more than doubled in volume, with value and transactions increasing by 24% and 58% respectively.
In the main market, the trade volume of the insurance industry nearly quadrupled to 12.04 million shares and the value almost tripled to QR 30.72 million with 13% growth in transactions to 225 .
The transport sector’s trade volume more than doubled to 14.05 million shares and the value nearly tripled to QR 56.22 million on deals more than doubled to 1,076.
The trading volume of the banking and financial services industry more than doubled to 61.65 million shares and the value almost doubled to QR 296.05 million on deals more than doubled to 6,629.
There was a 10% jump in industrial sector trade volume to 86.49 million shares, but a 1% drop in value to QRF 187.86 million on a 6% gain in transactions at 3,238.
However, the real estate sector‘s trade volume fell by 51% to 17.36 million shares, the value by 38% to QR30.86 million, and transactions by 44% to 719.
The market saw a 39% drop in telecom trade volume to 2.62 million shares, 52% in value to QR7.91 million and 58% in trades to 355.
The volume of trade in the consumer goods and services sector fell by 5% to 32.01 million shares, the value by 24% to QR52.67 million, and transactions by 2% to 1,188.
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