The Qatar Stock Exchange on Tuesday saw more than 70% of the traded constituents extend gains as its key index inched towards the 12,600 levels.
The increased net buying by foreign institutions was seen lifting the 20-stock Qatar Index more than 99 points or 0.8% to 12,570.59 points, recovering from an intraday low of 12,443 points.
The banking and insurance counters witnessed higher than average demand in the bourse, whose capitalisation saw about QR4bn or 0.55% addition to QR717.98bn, mainly on the back of midcap segments.
The foreign and Gulf individuals were seen bullish in the market, where the banking and industrials sectors accounted for about 64% of the trading volume.
The local retail investors’ weakened net selling also had its influence in the bourse, which saw a total of 33,981 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR286,049 changed hands across 12 deals.
The Islamic index was seen gaining slower than the conventional indices in the market, which saw no trading of sovereign bonds.
Total trade turnover was seen gaining amidst lower volumes in the bourse, which saw no trading of treasury bills.
The Total Return Index gained 0.8% to 24,884.24 points, the All Share Index by 0.66% to 3,960.02 points and the Al Rayan Islamic Index (Price) by 0.66% to 2,758.05 points.
The banks and financial services sector index expanded 1.14%, insurance (1.14%), real estate (0.53%), telecom (0.38%) and transport (0.28%); while consumer goods and services declined 0.53% and industrials 0.09%.
Major gainers in the main market included Commercial Bank, Masraf Al Rayan, Qatar Cinema and Film Distribution, QIIB, Qatar Insurance, Ahlibank Qatar, Dlala, Qatar Industrial Manufacturing, Aamal Company, Gulf International Services, Qatar Islamic Insurance, Ezdan and Vodafone Qatar.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their scrips gain in value.
Nevertheless, Qatar General Insurance and Reinsurance, Zad Holding, Qatari German Medical Devices, Baladna, Al Khaleej Takaful, Industries Qatar and Qamco were among the losers in the main market.
The foreign institutions’ net buying increased substantially to QR150.3mn compared to QR95.71mn on January 17.
The foreign individuals turned net buyers to the tune of QR5.98mn against net sellers of QR3.15mn on Monday.
The Gulf individuals were net buyers to the extent of QR2.32mn compared with net sellers of QR0.09mn the previous day.
Qatari individuals’ net selling shrank significantly to QR83.55mn against QR115.56mn on January 17.
However, the domestic funds turned sellers to the tune of QR85.95mn compared with net buyers of QR6.69mn on Monday.
The Arab individuals were net profit takers to the extent of QR1.71mn against net buyers of QR2.59mn the previous day.
The Gulf funds’ net buying weakened marginally to QR12.61mn compared to QR13.81mn on January 17.
The Arab funds continued to have no major net exposure.
Total trade volume in the main market fell 37% to 138.65mn shares, while value rose 12% to QR704.46mn and transactions by 10% to 14,023.
The market witnessed an 82% plunge in the real estate sector’s trade volume to 14.63mn equities, 77% in value to QR22.84mn and 57% in deals to 741.
The consumer goods and services sector’s trade volume plummeted 51% to 15.13mn stocks, value by 39% to QR33.03mn and transactions by 10% to 1,255.
There was a 23% contraction in the industrials sector’s trade volume to 35.06mn shares and 10% in value to QR123.3mn but on 2% jump in deals to 2,643.
The telecom sector’s volume tanked 10% to 8.54mn equities and value by 38% to QR31.39mn, whereas transactions shot up 55% to 978.
There was an 8% shrinkage in the insurance sector’s trade volume to 5.29mn stocks and 7% in value to QR14.42mn but on 51% expansion in deals to 547.
However, the transport sector’s trade volume soared 84% to 6.76mn shares and value more than doubled to QR38.32mn on a 21% jump in transactions to 520.
The banks and financial services sector saw a 15% surge in trade volume to 53.24mn equities, 75% in value to QR441.18mn and 32% in deals to 7,339.
In the venture market, volume shrank 37.62% to 55,215 stocks, value by 29.4% to QR0.32mn and transactions by 35% to 26.