The foreign institutions’ strong buying interests on Wednesday lifted the Qatar Stock Exchange about 155 points and place its key index near the 10,300 levels.
The telecom and banking counters witnessed higher than average demand as the 20-stock Qatar Index shot up 1.52% to 10,272.11 points, reflecting the bullish momentum in the global energy markets.
The Arab funds were increasingly into net buying and there was weakened net selling by the Arab retail investors in the bourse, whose year-to-date losses were trimmed further to 1.57%.
The Islamic equities were seen gaining slower than the other indices in the market, whose capitalisation saw more than QR7bn or 1.26% increase to QR594.91bn, mainly owing to mid and small cap segments.
More than 68% of the traded constituents extended gains to investors in bourse, where the local retail investors were increasingly into net selling and their foreign counterparts turned bearish.
Trade turnover grew amidst lower volumes in the market, where the industrials and consumer goods sectors together accounted for about 72% of the trading volume.
A total of 665,398 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR4.11mn changed hands across 80 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 1.52% to 20,203.82 points, All Share Index by 1.45% to 3,236.23 points and Al Rayan Islamic Index (Price) by 1.15% to 2,372.3 points.
The telecom sector index soared 1.98%, banks and financial services (1.83%), transport (1.36%), consumer goods and services (1.21%), industrials (1%) and insurance (0.74%); while real estate was down 0.06%.
Major gainers included Qatar Islamic Bank, Milaha, Investment Holding Group, Commercial Bank, Qamco, QNB, QIIB, Alijarah Holding, Woqod, Qatar National Cement, Qatar Insurance, Qatar General Insurance and Reinsurance, Mazaya Qatar, Ooredoo and Vodafone Qatar; even as Qatar Islamic Insurance, QLM, Al Khaleej Takaful, Medicare Group and Ezdan were among the prominent shakers.
The foreign funds turned net buyers to the tune of QR51.49mn compared with net sellers of QR0.39mn on March 9.
The Arab institutions’ net buying increased markedly to QR1.72mn against QR0.35mn the previous day.
The Arab individuals’ net selling eased perceptibly to QR1.81mn compared to QR2.28mn on Tuesday.
However, local retail investors’ net selling grew noticeably to QR25.56mn against QR23.95mn on March 9.
The Gulf institutions’ net selling also rose notably to QR16.8mn compared to QR2.22mn the previous day.
The foreign individuals turned net sellers to the extent of QR16.08mn against net buyers of QR0.85mn on Tuesday.
The Gulf individuals were also net sellers to the tune of QR8.76mn compared with net buyers of QR6.2mn on March 9.
The domestic funds’ net buying weakened substantially to QR15.71mn against QR21.47mn the previous day.
Total trade volume fell 3% to 449.09mn shares, while value rose 3% to QR724.15mn despite 9% lower transactions at 13,559.
The market witnessed 31% plunge in the telecom sector’s trade volume to 10.8mn equities, 41% in value to QR24.43mn and 36% in deals to 1,021.
The industrials sector’s trade volume plummeted 21% to 203.06mn stocks, value by 17% to QR199.24mn and transactions by 10% to 3,915.
There was 3% shrinkage in the insurance sector’s trade volume to 6.9mn shares but on 22% growth in value to QR24.73mn and 27% in deals to 558.
However, the transport sector’s trade volume more than tripled to 7.74mn equities and value more than quadrupled to QR47.91mn on 87% expansion in transactions to 825.
The banks and financial services sector saw 74% surge in trade volume to 77.06mn stocks, 52% in value to QR285.82mn and 10% in deals to 4,067.
The realty sector’s trade volume expanded 16% to 24.08n shares and value by 5% to QR40.97mn, while transactions were down 12% to 1,154.
The consumer goods and services sector reported 5% jump in trade volume to 119.46mn equities but on 10% decline in value to QR101.05mn and 34% in deals to 2,019.