The increased buying interests of domestic and foreign institutions Wednesday led the Qatar Stock Exchange to gain 84 points and close above the 10,500 levels.
Higher than average demand in the industrials, transport and insurance counters drove the 20-stock Qatar Index up 0.8% to 10,528.52 points.
Both Arab and foreign individuals turned bullish in the bourse, whose year-to-date gains jumped to 0.89%.
More than 55% of the traded constituents extended gains to investors in the market, whose capitalisation saw about QR4bn or 0.62% increase to QR607.09bn, mainly owing to micro and small cap segments.
The Islamic index was seen gaining faster than the other indices in the bourse, which saw the Gulf institutions turn influentially bullish.
Trade turnover and volumes were on the increase in the market, where the banking and industrials sectors together accounted for more than 76% of the trading volume.
A total of 124,943 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR298,743 changed hands across 15 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 0.8% to 20,313.8 points, the All Share Index by 0.66% to 3,233.73 points and the Al Rayan Islamic Index (Price) by 0.92% to 2,408.95 points.
The industrials index soared 2.09%, transport (1.18%), insurance (1.18%), consumer goods and services (0.43%), banks and financial services (0.18%) and telecom (0.18%); whereas realty declined 0.21%.
Major gainers included Al Khaleej Takaful, Qatari German Medical Devices, Qatar National Cement, Industries Qatar, Commercial Bank, Qatar General Insurance and Reinsurance, Ahlibank Qatar, Masraf Al Rayan, Al Khaliji, Qamco and Milaha; even as QLM, Dlala, Zad Holding, United Development Company, Doha Bank and Gulf Warehousing were among the losers.
Domestic funds’ net buying shot up substantially to QR58.59mn compared to QR37mn the previous trading day.
Gulf institutions turned net buyers to the tune of QR9.87mn against net profit takers of QR5.77mn on February 8.
Foreign institutions’ net buying grew significantly to QR7.7mn compared to QR1.69mn on Monday.
Arab individuals were net buyers to the extent of QR2.22mn against net sellers of QR1.87mn the previous trading day.
Foreign individuals turned net buyers to the tune of QR1.43mn compared with net profit takers of QR0.81mn on February 8.
Arab institutions’ net buying strengthened marginally to QR0.62mn against QR0.44mn on Monday.
However, the local retail investors’ net selling shot up considerably to QR70.63mn compared to QR31.34mn the previous trading day.
Gulf individuals turned net sellers to the extent of QR9.81mn against net buyers of QR0.62mn on February 8.
Total trade volume rose 38% to 202.64mn shares, value by 55% to QR570.48mn and transactions by 14% to 10,178.
The banks and financial services sector reported a 93% surge in trade volume to 99.44mn equities, 83% in value to QR335.4mn and deals by 36% to 4,914.
The transport sector’s trade volume soared 85% to 5.42mn stocks and value more than doubled to QR24.52mn on a 19% increase in transactions to 410.
There was a 16% expansion in the consumer goods and services sector’s trade volume to 21.12mn shares, 49% in value to QR48.26mn and 30% in deals to 1,154.
The industrials sector’s trade volume shot up 8% to 55.05mn equities, value by 37% to QR111.77mn and transactions by 6% to 2,226.
However, the insurance sector saw an 18% plunge in trade volume to 5.07mn stocks and 22% in value to QR14.67mn but on 7% jump in deals to 398.
The telecom sector’s trade volume shrank 6% to 4.4mn shares, value by 5% to QR15.15mn and transactions by 51% to 416.
The market witnessed a 5% shrinkage in the realty sector’s trade volume to 12.15mn equities, 13% in value to QR20.71n and 12% in deals to 670.
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