As many as three stocks, including QNB and Industries Qatar, touched the upper 10% circuit filter in an extremely bullish Qatar Stock Exchange that gained a huge 410 points to settle near 8,700 levels and capitalisation make a single day gain of QR25bn.
Foreign funds turned bullish and there was also increased net buying from local retail investors as the 20-stock Qatar Index shot up 4.97% to 8,663.04 points. The country’s first exchange traded fund QETF saw 4.62% gains.
There was also increased buying support from Gulf individuals in the market, which is up 1.64% year-to-date.
Islamic stocks were seen gaining slower than the main index in the bourse, which saw stronger selling by domestic institutions and non-Qatari individuals.
Large cap equities witnessed faster gains in the market, whose capitalisation expanded 5.6% to QR468.88bn.
Trade turnover and volumes were on the increase in the bourse, where industrials, banking and telecom sectors together accounted for more than 67% of the total volume.
The Total Return Index soared 4.97% to 15,090.37 points, All Share Index by 5.19% to 2,496.97 points and Al Rayan Islamic Index by 3.59% to 3,569.72 points.
The industrials index grew 6.79%, realty (6.36%), banks and financial services (6.23%), insurance (3.15%), consumer goods (1.97%) and transport (1.16%); while telecom was down 0.2%.
About 70% of the stocks extended gains with other major movers being Commercial Bank, Qatar Islamic Bank, Masraf Al Rayan, QIIB, Qatar Electricity and Water, Qatar Investors Group, Qatar Insurance, Ezdan, Barwa, Vodafone Qatar and Nakilat; whereas Doha Bank, Ooredoo, Gulf Warehousing, Salam International Investment and United Development Company were among the losers.
Local retail investors’ net buying grew substantially to QR36.41mn against QR8.71mn the previous day.
Non-Qatari institutions turned net buyers to the tune of QR41.32mn compared with net sellers of QR2.85mn on March 11.
The Gulf individuals’ net buying strengthened perceptibly to QR3mn against QR0.57mn on Sunday.
However, domestic funds’ net selling grew considerably to QR87.41mn compared to QR20.72mn the previous day.
Non-Qatari individuals’ net profit booking also increased to QR5.76mn against QR0.06mn on March 11.
The Gulf institutions’ net buying weakened marginally to QR12.44mn compared to QR14.33mn on Sunday.
Total trade volume more than tripled to 17.81mn shares and value grew almost five-fold to QR612.99mn on almost tripled transactions to 6,238.
The transport sector reported about 16-fold growth in trade volume to 2.84mn equities and 32-fold in value to QR153.09mn on more than quadrupled deals to 630.
The real estate sector’s trade volume grew almost five-fold to 2.18mn stocks and value by more than five-fold to QR39.66mn on almost quadrupled transactions to 999.
The insurance sector’s trade volume quadrupled to 0.36mn shares and value almost quadrupled to QR13.33mn on almost doubled deals to 159.
The market witnessed almost quadrupled trade volume in the industrials sector to 4.65mn equities and more than quadrupled value to QR135.04mn on almost tripled transactions to 1,224.
The consumer goods sector’s trade volume almost tripled to 0.4mn stocks and value also almost tripled to QR31.33mn on more than doubled deals to 432.
The telecom sector’s trade volume more than doubled to 3.17mn shares and value almost tripled to QR37.07mn on more than tripled transactions to 779.
The banks and financial services sector’s trade volume more than doubled to 4.2mn equities and value almost quadrupled to QR203.46mn on more than doubled deals to 2,015.
In the debt market, there was no trading of treasury bills but as many as 26,000 sovereign bonds valued at QR256.62mn traded across two transactions.
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