Substantially stronger buying interests of foreign institutions imparted more than 124 points push to the Qatar Stock Exchange, which on Wednesday neared 10,000 resistance levels.
Banking and industrials witnessed higher than average demand, leading to a 1.26% increase in the 20-stock Qatar Index to 9,964.37 points.
The Islamic equities were however seen gaining slower than the other indices in the market which is up 16.91% year-to-date.
Doha Bank sponsored exchange traded fund QETF reported 1.4% gains, while Masraf Al Rayan sponsored QATR declined 1.24%.
Trade turnover and volumes were on the expansive mode in the bourse, where real estate, banking and transport sectors together accounted for about 72% of the total volume.
The Total Return Index soared 1.26% to 17,349.4 points, All Share Index by 1.25% to 2,932.63 points and Al Rayan Islamic Index (Price) by 1.03% to 2,368.27 points.
The banks and financial services index shot up 1.48%, industrials (1.4%), transport (1.17%), consumer goods (1.04%), realty (0.95%), telecom (0.61%) and insurance (0.21%).
About 62% of the stocks extended gains with major moves being Industries Qatar, QNB, Ooredoo, Milaha, Mazaya Qatar, Qatar Islamic Bank, Masraf Al Rayan, Dlala, Qatari German Company for Medical Devices, Salam International Investment, Widam Food, Qatar Electricity and Water and Qatar Islamic Insurance.
Nevertheless, Qatar Oman Investment, Mesaieed Petrochemical Holding, Qatar National Cement, Vodafone Qatar, Doha Bank, Alijarah Holding, Qatar First Bank and Medicare Group were among the losers.
Non-Qatari institutions’ net buying increased significantly to QR54.23mn compared to QR1.97mn the previous day.
The Gulf institutional investors’ net buying strengthened considerably to QR6.67mn against QR3.74mn on October 9.
However, local individual investors’ net selling grew substantially to QR36.3mn compared to QR3.42mn on Tuesday.
Domestic institutions’ net profit booking also rose perceptibly to QR16.67mn against QR2.33mn the previous day.
Non-Qatari retail investors’ net selling expanded influentially to QR7.48mn compared to QR0.02mn on October 9.
The Gulf individual investors turned net sellers to the extent of QR0.47mn against net profit takers of QR0.04mn on Tuesday.
Total trade volume almost doubled to 5.85mn shares and value more than tripled to QR262.48mn on more than doubled transactions to 3,878.
The transport sector’s trade volume grew more than 21-fold to 1.24mn equities and value by more than 23-fold to QR26.98mn on almost quadrupled deals to 358.
The real estate sector’s trade volume more than quadrupled to 1.51mn stocks and value rose more than five-fold to QR38.07mn on more than quadrupled transactions to 842.
The consumer goods sector’s trade volume tripled to 0.3mn shares and value more than doubled to QR39.95mn on more than doubled deals to 394.
The telecom sector’s trade volume doubled to 0.42mn equities and value more than tripled to QR7.42mn on more than doubled transactions to 240.
The banks and financial services sector’s trade volume soared 45% to 1.45mn stocks and value more than tripled to QR89.38mn on 86% jump in deals to 1,081.
However, the insurance sector reported 83% plunge in trade volume to 0.05mn shares and 85% in value to QR1.59mn but on 67% expansion in transactions to 85.
The industrials sector’s trade volume declined 6% to 0.89mn equities, whereas value more than doubled to QR59.1mn and transactions by 57% to 878.
In the debt market, there was no trading of treasury bills but as many as 90,603 sovereign bonds valued at QR906.03mn traded across five deals.
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