(MENAFN- Gulf Times) Strong buying interests of foreign institutions snapped three days of bearish spell in the Qatar Stock Exchange, which gained a whopping 187 points to surpass 12,200 levels and capitalisation increased by QR11bn.
Banking, industrials and telecom stocks were seen instrumental in lifting the 20-stock Qatar Index 1.56% to 12,201.02 points, amidst reports that Greece may exit the eurozone.
Domestic institutions continued to be bullish but with lesser intensity in the market, which is, however, down 0.69% year-to-date.
Large and mid cap equities witnessed the maximum buying interests in the bourse, where trading was largely skewed towards the realty, banking and industrials sectors, whose stocks together constituted more than 58% of the overall trading volume.
Market capitalisation expanded 1.72% to QR648.74bn with large and mid cap equities gaining 2.39% and 0.52% respectively; while micro caps were down 0.16%.
The Total Return Index gained 1.56% to 18,961.01 points, All Share Index by 1.41% to 3,256.01 points and Al Rayan Islamic Index by 0.89% to 4,725.93 points.
Banks and financial services stocks shot up 2.2%, industrials (1.53%), telecom (1.4%), realty (0.78%), insurance (0.35%) and consumer goods (0.03%); whereas transport fell 0.21%.
Major gainers included QNB, Industries Qatar, Ooredoo, Barwa, Qatar Islamic Bank, Doha Bank, Alijarah Holding, Masraf Al Rayan, Gulf International Services, Qatar Electricity and Water and Qatari German Company for Medical Devices; even as Nakilat, Mesaieed Petrochemical Holding and al khaliji bucked the trend.
Non-Qatari institutions' net buying strengthened to QR50.28mn compared to QR1.19mn the previous day.
The GCC (Gulf Cooperation Council) institutions turned net buyers to the tune of QR3.84mn against net sellers of QR0.22mn on June 29.
However, the GCC retail investors turned net sellers to the extent of QR16.17mn compared with net buyers of QR0.98mn on Monday.
Local retail investors' net profit booking increased to QR87.03mn against QR70.53mn the previous day.
Non-Qatari individual investors' net selling strengthened to QR11.2mn compared to QR2.34mn on June 29.
Domestic institutions' net buying weakened to QR60.34mn against QR70.92mn on Monday.
Total trade volume almost doubled to 9.57mn shares and value more than doubled to QR518.36mn on doubled deals to 4,539.
The transport sector's trade volume almost quadrupled to 0.15mn equities and value grew more than five-fold to QR4.62mn on more than doubled transactions to 91.
The banks and financial services sector's trade volume almost tripled to 2.49mn stocks and value more than doubled to QR204.01mn on more than doubled deals to 1,196.
The real estate sector's trade volume more than doubled to 3.94mn shares and value also more than doubled to QR99.81mn on more than doubled transactions to 1,148.
The consumer goods sector's trade volume more than doubled to 0.79mn equities and value doubled to QR24.14mn on more than doubled deals to 401.
The market witnessed 88% surge in the insurance sector's trade volume to 0.15mn stocks more than doubling value to QR13.94mn on 46% jump in transactions to 104.
The industrials sector's trade volume soared 57% to 1.62mn shares almost tripling value to QR134.48mn on 88% expansion in deals to 1,180.
However, the telecom sector's trade volume shrank 28% to QR0.43mn equities; even as value more than doubled to QR37.35mn and transactions gained 82% to 419.
In the debt market, there was no trading of treasury bills and government bonds.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.