Foreign institutions’ increased net buying interests Thursday lifted the Qatar Stock Exchange more than 107 points, a day after the US hinted at diffusing the crisis.
Insurance, real estate and banking counters witnessed higher than average demand as the 20-stock Qatar Index gained 1.04% to 10,444.36 points, amidst heightened trading activities.
There was weakened net selling pressure from local retail investors and Gulf funds in the market, which is up 0.18% year-to-date.
Market capitalisation saw about QR6bn or about 1% increase to QR581.42bn mainly owing to large and small cap segments.
Islamic stocks were seen gaining faster than the other indices on the bourse, where domestic institutions turned bearish.
Trade turnover and volumes were on the rise on the bourse, where banking, industrials and real estate sectors together accounted for about 69% of the total volume.
The Total Return Index rose 1.04% to 19,218.51 points, All Share Index by 1.05% to 3,101.2 points and Al Rayan Islamic Index (Price) by 1.16% to 2,299.82 points.
The insurance index soared 2.06%, realty (1.28%), banks and financial services (1.2%), consumer goods (1.04%), telecom (0.9%), transport (0.53%) and industrials (0.48%).More than 81% of the traded stocks extended gains with major movers being Qatar Insurance, Ezdan, Mazaya Qatar, Doha Bank, Commercial Bank, QNB, Masraf Al Rayan, Al Khaliji, Qatar First Bank, Dlala, Medicare Group, Qatar National Cement, Qatari Investors Group, Aamal Company, Gulf International Services, Al Khaleej Takaful and Ooredoo; even as Vodafone Qatar, Qatar General Insurance and Reinsurance, Mesaieed Petrochemical Holding and Baladna were among the losers.
Non-Qatari funds’ net buying increased substantially to QR88.67mn compared to QR29.47mn on January 8.
Non-Qatari individuals turned net buyers to the tune of QR1.21mn against net profit takers of QR8.94mn on Wednesday.
Local retail investors’ net selling declined noticeably to QR30.58mn compared to QR37.61mn the previous day.
The Gulf institutions’ net profit booking fell marginally to QR2.12mn against QR2.51mn on January 8.
However, domestic funds turned net sellers to the extent of QR57.64mn compared with net buyers of QR18.89mn on Wednesday.
The Gulf individual investors’ buying weakened perceptibly to QR0.48mn against QR0.68mn the previous day.
Total trade volumes rose 28% to 87.04mn shares, value by 26% to QR267.98mn and transactions by 32% to 5,896.
The industrials sector’s trade volume shot up 92% to 17.64mn equities, value by 31% to QR30.88mn and deals by 39% to 872.
The real estate sector reported 82% surge in trade volume to 16.4mn stocks, 90% in value to QR17.33mn and 35% in transactions to 473.
The transport sector’s trade volume soared 73% to 4.1mn shares and value by 32% to QR12.06mn on more than doubled deals to 279.
There was 41% increase in the telecom sector’s trade volume to 7.7mn equities, 50% in value to QR17.38mn and 74% in transactions to 687.
The banks and financial services sector’s trade volume grew 11% to 25.89mn stocks, value by 10% to QR131.15mn and deals by 27% to 1,436.
However, the consumer goods sector saw 18% shrinkage in trade volume to 12.67mn shares but on 59% jump in value to QR53.32mn and 19% in transactions to 1,917.
The insurance sector’s trade volume shrank 15% to 2.65mn equities and value by 8% to QR5.87mn, whereas deals were up 6% to 232.
In the debt market, a total of 10,000 sovereign bonds valued at QR99.77mn changed hands across one transaction, and as many as 129,000 treasury bills worth QR1.29bn traded across two deals.