QSE crosses 11,200 points as Islamic stocks outperform

The Qatar Stock Exchange on Sunday saw Islamic stocks outperform major indices as they rose above 11,200 points.

Industry, telecommunications and insurance meters saw above-average demand, with the Qatar 20-stock index coming in over 43 points or 0.39% higher at 11,224. 09 points.

Gulf funds and foreign individuals are increasingly net buyers in the market, with cumulative gains of 7.55%.

More than 57% of the traded components extended the gains to the exchange’s investors, whose market capitalization saw more than QR 2 billion or 0.38% increase to QR 648.54 billion, mainly due to the segments at small cap.

Gulf retail investors turned bullish in the market, which has seen industrials, consumer goods and services, and banking sectors together making up over 81% of total trading volume.

Overall turnover and trade volumes were down on the stock exchange, where the net selling pressure from domestic institutions declined significantly.

Foreign funds remained net buyers but with less intensity in the market, which saw a total of 5,425 exchange-traded funds (QATR sponsored by Masraf Al Rayan) valued at QR 13,730 change hands in three deals.

The Total Return Index gained 0.39% to 22,218.76 points, the Islamic Al Rayan Index (price) 0.72% to 2,560.5 points and the All Share Index 0.21% at 3,556.48 points in the market, which saw no trading in sovereign bonds and treasury bills.

The industrial sector index jumped 1.46%, telecoms (1.15%), insurance (0.46%), transport (0.34%), real estate (0.14%) , and consumer goods and services (0.06%); while the index of banks and financial services was down 0.31%.

The main winners were Mesaieed Petrochemical Industries, Milaha, Qatar Industrial Manufacturing, Vodafone Qatar, Industries Qatar, Doha Bank, Medicare Group, Qatar Insurance and Ooredoo.

Nevertheless, Qatar Electricity and Water, Baladna, Qatari German Medical Devices, Mazaya Qatar, al khaliji, QNB, Qatari Investors Group, Gulf International Services and Nakilat were among the shakers.

Net purchases by Gulf institutions strengthened significantly to QR 6.89 million from QR 4.03 million on September 16.

Net purchases by foreign individuals rose sharply to QR 4.02 million from QR 0.34 million the previous trading day.

Gulf individuals became net buyers to the tune of QR 1.14 million against net sellers of QR 0.34 million last Thursday.

Net sales of national institutions decreased significantly to QR 3.03 million from QR 106.01 million on September 16.

The reservation of net profits from Arab individuals decreased significantly to QR1mn against QR3.18mn the previous trading day.

However, net sales from local retail investors notably climbed to QR 18.83 million from QR 8.56 million last Thursday.

Net purchases by foreign institutions dropped significantly to QR 10.82 million from QR 113.71 million on September 16.

Arab funds continued to have no major net exposure for the fourth consecutive session.

Total trade volume fell 26% to 145.16 million shares, value 50% to QR382.19 million and trades 32% to 7,505.

The transport sector’s trade volume fell 64% to 2 million shares, its value 60% to QR7.23 million, and transactions 31% to 254.

The real estate sector saw a 53% drop in trading volume to 9.5 million shares, 59% in value to QR 15.66 million and 29% in trades to 783.

The trading volume of the banking and financial services sector reached 52% to 21.23 million shares, a value of 78% to QR72.38 million and transactions of 58% to 1,825.

There was an 18% contraction in the volume of trade in the industrial sector to 74.21 million shares, 38% in value to 186.76 million QR and 21% of transactions to 2,582.

The trade volume of the consumer goods and services sector decreased by 15% to 22.78 million shares, the value by 29% to QR 42.23 million, and transactions by 36% to 814.

However, the trade volume of the insurance industry almost tripled to 8.37 million shares and the value tripled to QR 21.06 million but with a 21% contraction of transactions to 100.

Telecom sector trade volume increased 3% to 7.06 million shares, but value more than doubled to QR 36.86 million and transactions also more than doubled to 1,148 .

In the venture capital market, shares of Al Faleh rose 2.59%, while those of Mekdam Holding fell 3.08%.

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