By Santhosh V. Perumal
Business Reporter
Foreign institutions’ net buying support yesterday extended the bullish momentum in the Qatar Stock Exchange for the second straight session and its key index crossed the 13,300 level.
An across the board buying – particularly in the real estate, industrials and banking equities – led the 20-stock Qatar Index (based on price data) gain 1.93% to 13,328.62 points.
About 78% of the stocks extended gains and more than QR12bn in capitalisation was added in the market, which is up 28.41% year-to-date.
The index that tracks Shariah-principled stock was seen rising much faster than the other indices in the bourse, where trading volume was largely skewed towards realty, banking and industrials stocks.
The Total Return Index rose 1.93% to 19,879.51 points, All Share Index by 1.84% to 3,377.09 points and Al Rayan Islamic Index by 2.33% to 4,480.1 points.
Market capitalisation expanded 1.74% to QR719.65bn with micro, small, large and mid cap equities gaining 2.66%, 1.99%, 1.87% and 1.51% respectively.
Real estate stocks appreciated 2.35%, industrials (2.19%), banks and financial services (2.06%), consumer goods (1.5%), telecom (0.58%), transport (0.41%) and insurance (0.01%).
Major gainers included QNB, Industries Qatar, Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan, Qatari Investors Group, Gulf International Services, Mazaya Qatar, Barwa, United Development Company, Vodafone Qatar and Alijarah Holding.
However, Ooredoo, Qatar National Cement, Doha Bank, Qatar Insurance and Salam International Investment were seen bucking the trend.
Ezdan and Masraf Al Rayan continued to be the most active in terms of volume and value.
Foreign institutions’ net buying surged to QR81.37mn against QR0.29mn the previous day.
However, domestic institutions turned net sellers to the tune of QR35.06mn compared with net buyers of QR12.83mn on Tuesday.
Non-Qatari individual investors were also net profit takers to the extent of QR10.02mn against net buyers of QR13.78mn the previous day.
Qatari retail investors’ net profit booking rose to QR36.37mn compared to QR26.81mn on October 21.
Total trade volume more than doubled to 16.58mn shares, value soared 86% to QR770.52mn and transactions by 52% to 7,555.
The real estate sector’s trade volume almost tripled to 7.05mn equities and value more than tripled to QR159.01mn on 66% jump in deals to 1,586.
The consumer goods sector’s trade volume more than doubled to 1.05mn stocks and value almost tripled to QR50.49mn on more than doubled transactions to 572.
The transport sector’s trade volume more than doubled to 0.79mn shares, value rose 62% to QR27.89mn and deals by 82% to 353.
The banks and financial services sector’s trade volume reported 65% surge to 4.57mn equities; 71% in value to QR293.65mn and 48% in transactions to 2,391.
The industrials sector’s trade volume expanded 65% to 1.88mn stocks; value by 72% to QR190.3mn and deals by 36% to 1,993.
The insurance sector’s trade volume rose 16% to 0.37mn shares, value by 2% to QR26.49mn and transactions by 44% to 277.
The market witnessed 9% gain in the telecom sector’s trade volume to 0.86mn equities, 11% in value to QR22.69mn and 30% in deals to 383.
In the debt market, there was no trading of treasury bills and government bonds.
