Transport, telecoms, industrialists raise the QSE above 11,400 points


The Qatar Stock Exchange gained 45 points on Wednesday to cross 11,400 points, mainly thanks to the strong buying interests of Gulf institutions.
Meters in transport, telecommunications and industrials saw above-average demand as the Qatar 20-stock index rose 0.39% to 11,431.15 points, recovering from sluggishness. ‘an intraday low of 11,344 points.
Gulf individuals have become net buyers, albeit at lower levels, in the market, whose year-to-date gains have improved to 9.54%.
The Islamic index rose more slowly than other stock market indices, whose capitalization increased by over QR 2 billion or 0.31% to QR 657.74 billion, mainly due to the mid-cap segments.
The weakening of the net selling pressure of national institutions also had its influence on the market, which saw the industrial and banking sectors together constitute about 63% of the total volume of transactions.
Overall turnover and trade volumes are down in the main market, where foreign institutions have remained net buyers but with less intensity.
Local retail investors were seen as net profit takers in the market, which saw a total of 58,440 exchange-traded funds (QATR sponsored by Masraf Al Rayan and QETF sponsored by Bank of Doha) valued at 634,469 QR change hands on nine transactions.
The total return index gained 0.39% to 22,628.65 points, the Islamic Al Rayan (price) index by 0.08% to 2,596.69 points and the All Share index by 0.3%. to 3,603.35 points in the market, which saw no trading in sovereign bonds and treasury bills.
The transport sector index increased by 0.92%, telecoms (0.79%), manufacturers (0.72%), real estate (0.23%), and banks and financial services (0.16%). while insurance fell 0.63% and consumer goods and services by 0.13%.
The main winners in the main market were Industries Qatar, Zad Holding, Milaha, Doha Bank, Ooredoo, Mesaieed Petrochemical Holding, Commercial Bank, Qatar Islamic Insurance, Barwa and Nakilat. In the venture capital market, Al Faleh Educational Holding made gains.
Nonetheless, over 53% of the components traded were in the red, with the main losers being Al Meera, Doha Insurance, Qatar Industrial Manufacturing, Qatar First Bank, Gulf International Services, Qatar Electricity and Water, Qamco, Dlala, Qatari German Medical Devices, Mannai Corporation, Qatar Insurance, Qatar General and Reinsurance and Mazaya Qatar.
Net purchases by Gulf institutions increased significantly to reach QR 19.75 million from QR 1.92 million on September 28.
Gulf individuals became net buyers at QR 0.11 million against net sellers of QR 0.24 million the day before.
Net sales of domestic institutions fell significantly to QR 32.29 million from QR 53.99 million on Tuesday.
However, local retail investors were net sellers of QR 6.29 million against net buyers of QR 9.79 million on September 28.
Net purchases by foreign institutions fell sharply to QR 14.51 million against QR 35.82 million the day before.
Net purchases by Arab individuals weakened significantly to QR 2.38 million from QR 4.21 million on Tuesday.
Net purchases by foreign individuals fell slightly to QR 1.83 million from QR 2.5 million on September 28.
Arab funds had no major net exposure for the seventh consecutive session.
Total trading volume fell 43% to 146.62 million shares, value 21% to QR492.56 million and trades 17% to 10,271 in the main market. The venture capital market had experienced a decline of 15%, 18% and 27% respectively in volume, value and transactions.
In the main market, the trade volume of the industrial sector fell by 61% to 57.1 million shares, the value by 50% to QR 154.86 million, and transactions by 25% to 3,439.
The consumer goods and services sector saw a 58% drop in trading volume to 18.55 million shares, 40% in value to 41.46 million QR and 38% in transactions to 907.
Real estate trade volume reached 28% to 9.73 million shares, value 31% to QR15.38 million, and transactions 55% to 481.
There was a 17% contraction in insurance sector transaction volume to 3.8 million shares and 11% in value to QR 9.81 million, but a 36% increase in transactions to 192.
However, the transport sector’s trade volume more than doubled to 10.58 million shares, the value soared 64% to QR45.11 million, and transactions by 50% to 818.
The telecommunications sector saw a 23% increase in trading volume to 11.88 million shares, 60% in value to QR41.73 million and 20% in trades to 1,116.
The trading volume of the banking and financial services sector increased by 5% to 34.98 million shares and the value by 17% to QR 184.22 million; while transactions fell 8% to 3,318.


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