The rising global energy prices and the positivity in the Gulf region, due to the end of blockade, continued to have its influence on the Qatar Stock Exchange, which opened this week on a stronger note and its key index surpassed 10,700 levels with an ease.
An above-average demand for the transport, telecom and insurance equities led the 20-stock Qatar Index settle 47 points or 0.44% higher at 10,725.73 points, although it touched an intraday high of 10,753 points.
Foreign and domestic institutions continued to be net buyers but with lesser intensity on the market, whose year-to-date gains were at 2.78%.
Decliners, however, outnumbered gainers on the bourse, whose capitalisation expanded more than QR1bn or 0.22% to QR620.11bn, mainly on microcap segments.
Trade turnover and volumes were on the increase on the market, where the banking and industrials sectors together accounted for about 64% of the total trading volume.
Islamic equities were seen gaining slower than the other indices on the bourse, which saw the Arab individuals turn bullish and there was increased net buying by foreign individuals.
A total of 67,800 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR634,999 changed hands across 10 deals; while on the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 0.44% to 20,619.85 points, Al Rayan Islamic Index (Price) by 0.04% to 2,429.66 points and All Share Index by 0.36% to 3,296.15 points.
The transport index soared 3.26%, telecom (2.16%), insurance (1.99%), industrials (0.3%) and consumer goods and services (0.11%); while realty declined 0.3% and banks and financial services 0.05%.
Major gainers included Milaha, Al Khaliji, Qatar Insurance, Qatari German Medical Devices, Ooredoo, Al Meera Consumer Goods, Industries Qatar and Nakilat; even as Qatar Islamic Insurance, Ezdan, Baladna, Dlala, Inma Holding, Qatar National Cement, Mazaya Qatar and United Development Company were among the losers.
The Arab individuals turned net buyers to the tune of QR6.93mn compared with net sellers of QR8.62mn last Thursday.
The foreign individuals’ net buying increased noticeably to QR3.21mn against QR1.23mn the previous trading day.
The Gulf individuals’ net buying grew markedly to QR0.88mn compared to QR0.05mn on January 7.
Local retail investors’ net selling declined perceptibly to QR67.95mn against QR85.4mn last Thursday.
However, the Gulf funds’ net selling grew substantially to QR35.58mn compared to QR24.08mn the previous trading day.
The domestic institutions’ net profit booking shrank notably to QR23.43mn against QR38.36mn on January 7.
The foreign funds’ net buying weakened perceptibly to QR69.09mn compared to QR78.65mn last Thursday.
The Arab institutions had no major exposure against net sellers to the tune of QR0.15mn the previous trading day.
Total trade volume rose 10% to 198.62mn shares and value by 5% to QR517.11mn, while transactions were down 5% to 9,419.
The transport sector’s trade volume soared 58% to 9.28mn equities, value by 78% to QR49.38mn and deals by 68% to 925.
The market witnessed 49% surge in the consumer goods and services sector’s trade volume to 29.6mn stocks, 27% in value to QR77.91mn and 14% in transactions to 1,067.
The banks and financial services sector’s trade volume shot up 16% to 81.89mn shares, whereas value fell less than 1% to QR252.76mn and deals by 16% to 3,685.
There was 13% expansion in the telecom sector’s trade volume to 8.32mn equities, 94% in value to QR33.93mn and 20% in transactions to 891.
The industrials sector’s trade volume was up 4% to 44.88mn stocks, while value shrank 8% to QR59.94mn despite 4% higher deals at 1,551.
However, the realty sector reported 28% plunge in trade volume to 22.15mn shares, 35% in value to QR37.04mn and 32% in transactions to 1,097.
The insurance sector’s trade volume tanked 22% to 2.5mn equities and value by 39% to QR6.15mn, whereas deals gained 22% to 203.