The Qatar Stock Exchange Sunday opened the week on a stronger note with its key index gaining 157 points to surpass 10,600 levels and capitalisation gaining QR11bn; reflecting the positivity in the geopolitical arena in the region.
An across the board buying – particularly in the realty, telecom, transport and industrials – was instrumental in the 20-stock Qatar Index soar 1.5% to 10,622.36 points, although it touched an intraday high of 10,655 points.
“The signs of easing of the geopolitical tensions have had its fair play in the market,” an analyst with a leading brokerage firm said, adding the regional economic outlook ought to improve as risks recede.
The foreign and Gulf institutions’ buying interests ramped up the sentiments in the market, whose year-to-date gains swelled to 1.89%.
About 79% of the traded constituents extended gains to investors in the market, where Islamic equities were seen gaining slower than the other indices.
Market capitalisation saw 1.79% increase to QR614.73bn, mainly owing to large and midcap segments.
A total of 534,465 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued together at QR1.3mn changed hands across 58 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the increase in the bourse, where the industrials, real estate, consumer goods and banking sectors together accounted for about 95% of the total trading volume.
The Total Return Index gained 1.5% to 20,420.95 points, All Share Index by 1.37% to 3,259.16 points and Al Rayan Islamic Index (Price) by 1.36% to 2,436.86 points.
The realty index shot up 3.59%, telecom (2.32%), transport (2.26%), industrials (2.19%), banks and financial services (0.86%), consumer goods and services (0.81%) and insurance (0.67%).
Major gainers included Industries Qatar, Ooredoo, QNB, Ezdan, Aamal Company, Inma Holding, Investment Holding Group, QIIB, Commercial Bank, Qatar Electricity and Water, Milaha, Gulf Warehousing, Salam International Investment, Qatari German Medical Devices, Qatar Oman Investment and Mazaya Qatar; even as Baladna, Widam Food, Al Khaliji, Qatar First Bank and Qatar General Insurance and Reinsurance were among the losers.
Foreign funds’ net buying increased substantially to QR74.92mn compared to QR58.29mn on December 3.
The Gulf funds turned net buyers to the tune of QR38.52mn against net sellers of QR7.4mn the previous trading day.
The Arab individuals were net buyers to the extent of QR3.7mn compared with net sellers of QR8.26mn last Thursday.
The foreign individuals turned net buyers to the tune of QR1.85mn against net sellers of QR3.24mn on December 3.
However, Qatari individuals’ net selling rose considerably to QR104mn compared to QR33.71mn the previous trading day.
Domestic institutions’ net profit booking grew markedly to QR9.91mn against QR5.95mn last Thursday.
The Gulf individuals were net sellers to the extent of QR4.35mn compared with net buyers of QR0.4mn on December 3.
The Arab institutions’ net profit booking grew marginally to QR0.75mn against QR0.09mn the previous trading day.
Total trade volumes more than doubled to 563.34mn shares, value soared 40% to QR926.07mn and transactions by 6% to 16,402.
The consumer goods and services sector’s trade volume more than tripled to 123.4mn equities and value more than doubled to QR151.25mn on 72% increase in deals to 2,714.
The industrials sector’s trade volume almost tripled to 167.44mn stocks and value doubled to QR168.63mn on 25% jump in transactions to 3,485.
The banks and financial services sector’s trade volume almost doubled to 101.32mn shares, whereas value shrank 8% to QR244.61mn and deals by 21% to 4,134.
The real estate sector reported 86% surge in trade volume to 140.35mn equities and value almost doubled to QR246.83mn on 45% expansion in transactions to 3,914.
The transport sector’s trade volume was up 4% to 13.52mn stocks and value by 13% to QR60.86mn; while deals shrank 21% to 1,084.
However, there was 25% plunge in the insurance sector’s trade volume to 7.27mn shares, 23% in value to QR16.94mn and 43% in transactions to 401.
The telecom sector’s trade volume tanked 12% to 10.03mn equities, value by 14% to QR36.96mn and deals by 39% to 670.