By Santhosh V Perumal
Business Reporter
The Qatar Stock Exchange on Monday bounced back with 346 points gain to inch near the 11,500 mark, mainly lifted by banking and consumer goods stocks.
Local retail investors’ increased penchant for equities led the 20-stock Qatar Index (based on price data) surge 3.11% to 11,460.02 points as volumes also rose.
Both domestic and foreign institutions chose to book profit in the market, which is, however, up 10.41% year-to-date.
The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the market, where capitalisation swelled 3.13% or more than QR19bn to 633.99bn.
The Total Return Index rose 3.11% to 17,092.52 points, the All Share Index by 3.17% to 2,925.2 points and Al Rayan Islamic Index by 3.46% to 3,788.59 points.
Consumer goods stocks vaulted 4.61%, followed by banks and financial services (4.31%), industrials (2.76%), transport (1.94%), real estate (1.79%), telecom (1.6%) and insurance (1.17%).
More than 90% of the companies extended gains to investors with major gainers being Industries Qatar, QNB, Qatar Islamic Bank, Marfa Al Rayan, Masaya Qatar, Vodafone Qatar, Gulf International Services, Doha Bank, Birwa, Gulf Warehousing and Nabila. However, Dallas and Islamic Holding Group were seen bucking the trend.
Qatari retail investors turned net buyers to the tune of QR83.59mn compared with net sellers of QR68.05mn the previous day.
Non-Qatari individual investors also turned net buyers to the extent of QR28.83mn against net profit-takers of QR65.18mn on December 14.
However, domestic institutions turned net sellers to the tune of QR35.18mn compared with net buyers of QR131.59mn on Sunday.
Foreign institutions also turned net sellers to the extent of QR77.32mn against net buyers of QR1.63mn the previous day.
Total trade volume rose 12% to 25.21mn shares, value by 5% to QR1.01bn and transactions by 13% to 11,034.
The consumer goods sector’s trade volume almost tripled to 4.74mn equities, value rose 28% to QR155.16mn and deals by 11% to 1,256.
The transport sector’s trade volume more than doubled to 2.87mn stocks with value also more than doubling to QR112.47mn on a 56% jump in transactions to 860.
There was a 20% expansion in the telecom sector’s trade volume to 3.53mn shares, 7% in value to QR75.91mn and 28% in deals to 1,403.
The industrials sector’s trade volume expanded 13% to 3.12mn equities, value by 5% to QR217.76mn and transactions by 53% to 2,733.
However, the insurance sector’s trade volume plummeted 97% to 0.01mn stocks, value by 74% to QR5.48mn and deals by 43% to 140.
The real estate sector saw its trade volume plunge 21% to 5.86mn shares, value by 11% to QR142.5mn and transactions by 13% to 1,877.
The banks and financial services sector reported a 15% slippage in trade volume to 4.98mn equities, 10% in value to QR298.76mn and 2% in deals to 2,765.
In the debt market, there was no trading of treasury bills and government bonds.
