Positive corporate earnings’ expectations continued to influence the Qatar Stock Exchange, which yesterday vaulted 155 points and its key index surpassed 12,300 levels and capitalisation gained about QR8bn.
Foreign institutions were increasingly net buyers as the 20-stock Qatar Index shot up 1.27% to 12,318.12 points, amidst increased volumes. The market recovered from an intraday low of 12,128 points.
About 64% of the traded constituents extended gains in the market, whose year-to-date gains swelled to 5.95%.
The banks, consumer goods and industrials counters witnessed higher-than-average demand in the bourse, whose capitalisation gained 1.11% to QR700.29bn, mainly on the back of large cap segments.
The Islamic index was seen gaining slower than the conventional indices in the market, where the industrials, banking and consumer goods accounted for more than 81% of the trading volume.
Both domestic funds and local retail investors were increasingly net sellers in the main market, which saw a total of 184,500 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR1.41mn trade across six deals.
The Total Return Index gained 1.27% to 24,384.45 points, the All Share Index by 1.16% to 3,876.62 points and the Al Rayan Islamic Index (Price) by 0.99% to 2,720.19 points in the market, which saw no trading of sovereign bonds and treasury bills.
The banks and financial services sector index shot up 1.49%, followed by consumer goods and services (1%), industrials (0.95%), telecom (0.86%), realty (0.53%), transport (0.36%) and insurance (0.11%).
Major gainers in the main market included Mannai Corporation, QIIB, Mesaieed Petrochemical Holding, Zad Holding, Qatar Islamic Bank, QNB, Commercial Bank, Qatar Oman Investment, Salam International Investment, Qatar Industrial Manufacturing, QLM, Barwa, Ooredoo and Milaha. In the venture market, Mekdam Holding saw it shares appreciate in value.
Nevertheless, Qatar Cinema and Film Distribution, Gulf Warehousing, Aamal Company, Qatari Investors Group, Qatar Islamic Insurance and Qamco were among the losers in the main market.
In the venture market, Al Faleh Educational Holding’s equities fell.
The foreign institutions' net buying increased substantially to QR342.21mn against QR182.46mn on January 12.
However, the domestic funds’ net selling grew significantly to QR225.64mn compared to QR141mn on Wednesday.
Qatari individuals’ net selling rose considerably to QR102.61mn against QR73.82mn the previous day.
The Arab individuals turned net sellers to the tune of QR8.25mn compared with net buyers of QR0.21mn on January 12.
The foreign individuals were net sellers to the extent of QR2.28mn against net buyers of QR4.92mn on Wednesday.
The Gulf individuals turned net sellers to the tune of QR1.91mn compared with net buyers of QR1.77mn the previous day.
The Gulf funds were net profit takers to the extent of QR1.52mn against net buyers of QR25.46mn on January 12.
The Arab funds continued to have no major net exposure.
Total trade volume in the main market rose 37% to 204.02mn shares, value by 38% to QR819.14mn and transactions by 8% to 14,302.
The real estate sector’s trade volume more than doubled to 28.5mn equities and value soared 68% to QR46.37mn and deals by 27% to 1,279.
The banks and financial services sector’s trade volume shot up 48% to 58.4mn stocks, value by 41% to 496.92mn and transactions by 5% to 7,082.
There was a 47% surge in the industrials sector’s trade volume to 64.22mn shares, 49% in value to QR176.94mn and 36% in deals to 3,761.
The consumer goods and services sector’s trade volume zoomed 44% to 42.72mn equities, value by 23% to QR54.42mn and transactions by 3% to 1,228.
However, the market witnessed a 67% plunge in the insurance sector’s trade volume to 1.05mn stocks, 63% in value to QR2.97mn and 39% in deals to 84.
The telecom sector’s volume plummeted 66% to 3.95mn shares, value by 52% to QR14.52mn and transactions by 42% to 489.
The transport sector reported 31% contraction in trade volume to 5.17mn equities, 25% in value to QR27mn and 33% in deals to 379.
In the venture market, volume tanked 49.17% to 188,497 stocks, value by 47.31% to QR1.29mn and transactions by 67.82% to 65.