The Qatar Stock Exchange on Tuesday extended its bullish run for the second straight session and its key index gained 66 points to surpass the 10,100 levels.
An across the board buying – particularly at insurance, industrials, consumer goods, transport and telecom counters – led the 20-stock Qatar Index add 0.65% to 10,117.84 points, having recovered from an intraday low of 10,007 points.
Domestic funds and Gulf individuals turned bullish on the bourse, whose year-to-date losses were trimmed further to 3.05%.
Islamic equities were seen declining slower than the other indices on the market, whose capitalisation saw more than QR5bn or 0.91% increase to QR587.5bn, mainly owing to large and small cap segments.
More than 55% of the traded constituents extended gains to investors on the bourse, where the Arab funds were seen marginally bullish.
Trade turnover and volumes were on the increase in the market, where the industrials and consumer goods sectors together accounted for about 81% of the trading volume.
A total of 160,056 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR1.48mn changed hands across 24 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 1.08% to 19,900.4 points, All Share Index by 1.26% to 3,189.97 points and Al Rayan Islamic Index (Price) by 0.65% to 2,345.4 points.
The insurance sector index shot up 3.16%, industrials (1.97%), consumer goods and services (1.79%), transport (1.38%), telecom (1.18%), banks and financial services (0.85%) and real estate (0.34%).
Major gainers included Industries Qatar, Aamal Company, Qatar Insurance, Qatar National Cement, Salam International Investment, QNB, Zad Holding, Investment Holding Group, Milaha, Doha Insurance, Qatar General Insurance and Reinsurance, Qatar Islamic Insurance and Al Khaleej Takaful; even as Barwa, Qatar Electricity and Water, Inma Holding, Qatari German Medical Devices and Qamco were among the losers.
The domestic funds turned net buyers to the tune of QR21.47mn compared with net sellers of QR54.8mn on March 8.
The Gulf individuals were also net buyers to the extent of QR6.2mn against net sellers of QR2.14mn the previous day.
The Arab institutions turned net buyers to the tune of QR0.35mn compared with no major exposure on Monday.
However, local retail investors were net sellers to the extent of QR23.95mn against net buyers of QR20.7mn on March 8.
The Arab individuals turned net sellers to the tune of QR2.28mn compared with net buyers of QR7.91mn the previous day.
The Gulf institutions were net profit takers to extent of QR2.22mn against net buyers of QR8.65mn on Monday.
The foreign funds turned net sellers to the tune of QR0.39mn compared with net buyers of QR17.82mn on March 8.
The foreign individuals’ net buying weakened marginally to QR0.85mn against QR1.91mn the previous day.
Total trade volume grew 73% to 462.96mn shares, value by 40% to QR652.5mn and transactions by 31% to 14,865.
The consumer goods and services sector’s trade volume almost tripled to 114.23mn equities, value soared 65% to QR112.26mn and deals by 66% to 3,042.
There was 58% surge in the industrials sector’s trade volume to 258.51mn stocks, 35% in value to QR240.86mn and 29% in transactions to 4,343.
The banks and financial services sector’s trade volume shot up 57% to 44.28mn shares, value by 41% to QR187.61mn and deals by 3% to 3,693.
The market witnessed 56% expansion in the telecom sector’s trade volume to 15.56mn equities and 76% in value to QR41.65mn on almost doubled transactions to 1,593.
The insurance sector’s trade volume increased 46% to 7.11mn stocks, value by 34% to QR20.32mn and deals by 26% to 440.
The realty sector reported 18% jump in trade volume to 20.7mn shares, 9% in value to QR39.07mn and 32% in transactions to 1,313.
However, the transport sector’s trade volume shrank 15% to 2.57mn equities and value by 4% to QR10.74mn, while deals were up 2% to 441.