An across the board buying, particularly in the banking counter, yesterday lifted the Qatar Stock Exchange as much as 125 points and its key index surpassed the 10,600 levels.
The Islamic equities witnessed higher demand than the conventional ones as the 20-stock Qatar Index grew 1.19% to 10,605.28 points, recovering from an intraday low of 10,461 points.
Foreign institutions were seen net buyers in the bourse, whose year-to-date gains swelled to 1.62%.
The Gulf individuals net selling was seen substantially weakening in the market, whose capitalisation saw more than QR5bn or 0.89% increase to QR619.78bn, mainly owing to mid and small cap segments.
More than 81% of the traded constituents extended gains to investors in the market, which saw the gulf funds turned net profit takers.
However, local retail investors and domestic funds turned bearish in the bourse, which saw a total of 188,374 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR1.68mn changed hands across 16 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 1.19% to 20,985.72 points, All Share Index by 1.03% to 3,372.92 points and Al Rayan Islamic Index (Price) by 1.2% to 2,640.86 points.
The banks and financial services index shot up 1.28%, insurance (1.04%), consumer goods and services and industrials (1.02% each), transport (0.8%), telecom 90.29%) and real estate (0.22%).
Major gainers included Al Khaleej Takaful, Qatari Investors Group, Investment Holding Group, Commercial Bank, Qatar Islamic Bank, Ahlibank Qatar, QIIB, Qatari German Medical Devices, Salam International Investment, Qatar Industrial Manufacturing, Qatar Electricity and Water, Qamco, QLM and Milaha; even as Qatar First Bank, Doha Insurance, Inma Holding, al khaliji and Aamal Company were among the gainers.
The foreign institutions turned net buyers to the tune of QR32.62mn against net sellers of QR26.25mn on April 13.
The Gulf individuals’ net profit booking declined considerably to QR0.97mn compared to QR13.97mn the previous day.
However, the Arab individuals’ net selling increased markedly to QR10.31mn against QR0.84mn on Tuesday.
Local retail investors were net sellers to the extent of QR9.88mn compared to QR9.5mn on April 13.
The domestic funds turned net sellers to the tune of QR5.43mn against net buyers of QR15.19mn the previous day.
The Gulf funds were net sellers to the extent of QR3.66mn compared with net buyers of QR17.02mn on Tuesday.
The foreign individuals’ net selling increased marginally to QR2.38mn against QR2.29mn on April 13.
The Arab funds had no major net exposure compared with net buyers of QR1.63mn the previous day.
Total trade volume fell 8% to 164.38mn shares, value by 12% to QR335.9mn and transactions by 12% to 7,494.
The telecom sector’s trade volume plummeted 67% to 1.64mn equities, value by 50% to QR6.52mn and deals by 9% to 374.
The real estate sector saw 16% plunge in trade volume to 28.1mn stocks, 14% in value to QR47.21mn and 17% in transactions to 932.
The industrials sector’s trade volume tanked 11% to 58.86mn shares and value by 2% to QR96.41mn, while deals grew 13% to 2,372.
There was 5% shrinkage in the consumer goods and services sector’s trade volume to 43.57mn equities, 19% in value to QR56.04mn and 12% in transactions to 1,285.
However, the transport sector’s trade volume more than doubled to 2.4mn stocks and value also more than doubled to QR8.13mn but on 25% dip min deals to 163.
The market witnessed 25% surge in the insurance sector’s trade volume to 7.65mn shares and value by 35% to QR29.26mn on almost doubled transactions to 564.
The banks and financial services sector’s trade volume was up 4% to 22.16mn equities, whereas value contracted 23% to QR92.32mn and deals by 37% to 1,804.