The Qatar Stock Exchange on Thursday gained more than 181 points to inch near 10,700 levels, mainly on the back of robust buying interests of foreign institutions.
The banking, transport and industrials counters witnessed higher than average demand, thus helping the 20-stock Qatar Index surge 1.73% to touch a near five-month high of 10,688.67 points, reflecting the buoyant sentiments in the global oil market.
The weakened selling pressure from the Gulf and non-Qatari individuals also helped the market, whose key benchmark closed 3.78% higher year-to-date.
Market capitalisation expanded more than QR11bn, or about 2%, to QR590.07bn mainly owing to large and midcap segments.
Islamic equities were seen gaining slower than the other indices in the market, where domestic and the Gulf institutions were increasingly net profit takers.
Trade turnover and volume were on the increase in the bourse, where the banking sector alone accounted for more than 78% of the total volume.
The Total Return Index rose 1.73% to 19,668.06 points, the Al Rayan Islamic Index (Price) by 0.98% to 2,422.56 points and the All Share Index by 1.69% to 3,159.32 points.
The banks and financial services index soared 2.23%, transport (2.19%), industrials (1.78%), consumer goods (1.15%), telecom (1.13%) and insurance (0.94%); while real estate fell 0.42%.
More than 57% of the traded constituents extended gains with major movers being QNB, Doha Bank, Masraf Al Rayan, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Ooredoo, Nakilat, Milaha, Gulf Warehousing, Salam International Investment and Medicare Group; even as Commercial Bank, QIIB, Qatari German Company for Medical Devices, Qatar Investors Group and Vodafone Qatar were among the losers.
Non-Qatari institutions’ net buying increased substantially to QR160.86mn against QR38.15mn on June 19.
Non-Qatari individual investors’ net selling decreased noticeably to QR5.72mn compared to QR8.06mn on Wednesday.
The Gulf individual investors’ net selling also declined perceptibly to QR0.98mn against QR3.64mn the previous day.
However, domestic funds’ net selling strengthened significantly to QR79.75mn compared to QR4.45mn on June 19.
Local retail investors’ net profit booking grew influentially to QR61.6mn against QR16.02mn on Wednesday.
The Gulf institutions’ net selling enhanced strongly to QR12.81mn compared to QR5.98mn the previous day.
Total trade volume grew 34% to 75.18mn shares and value doubled to QR650.48mn on less than 1% jump in transactions to 7,735.
The real estate sector’s trade volume soared 52% to 4.01mn equities, value by 88% to QR46.07mn and deals by 12% to 1,144.
The banks and financial services sector saw 42% surge in trade volume to 58.74mn stocks, almost tripling value to QR369.87mn on 2% rise in transactions to 2,885.
The industrials sector’s trade volume shot up 39% to 3.45mn shares and value more than doubled to QR121.38mn on less than 1% growth in deals to 1,925.
There was 11% expansion in the transport sector’s trade volume to 0.93mn equities, 20% in value to QR26.89mn and 33% in transactions to 300.
However, the telecom sector’s trade volume plummeted 36% to 1.16mn stocks, whereas value increased 57% to QR25.6mn and deals by 6% to 449.
The insurance sector reported 25% plunge in trade volume to 0.49mn shares but on 3% jump in value to QR16.73mn despite 33% lower transactions at 218.
The consumer goods sector’s trade volume was down 1% to 6.4mn equities, value by 19% to QR43.93mn and deals by 17% to 814.
In the debt market, there was no trading of treasury bills and sovereign bonds.