By Santhosh V Perumal
Business Reporter
The Qatar Stock Exchange yesterday surpassed the 11,700 mark with ease, gaining as much as 124 points, mainly lifted by industrials and transport stocks.
The Gulf Co-operation Council (GCC) individuals and foreign institutions were seen instrumental in lifting the 20-stock Qatar Index 1.08% to 11,711.4 points as trade volumes also grew.
Small and mid cap equities witnessed the maximum buying interests in the market, which is, however, down 4.68% year-to-date.
The index that tracks Shariah-principled stocks was seen gaining slower than the other indices in the bourse, where banking, real estate and telecom stocks accounted for more than three-fourth of the total trading volume.
Market capitalisation expanded about 1% or more than QR6bn to QR633.45bn with small, mid, large and micro cap stocks gaining 1.14%, 1.13%, 0.84% and 0.33% respectively.
The Total Return Index gained 1.08% to 18,198.59 points, All Share Index by 0.92% to 3,133.6 points and Al Rayan Islamic Index by 0.65% to 4,276.43 points.
Industrials stocks appreciated 1.97%, transport (1.01%), consumer goods (0.94%), insurance (0.9%), banks and financial services (0.53%), real estate (0.52%) and telecom (0.06%).
About 60% of the stocks extended gains with major movers being QNB, Industries Qatar, Masraf Al Rayan, Qatar Electricity and Water, Gulf International Services, Barwa, Mazaya Qatar, United Development Company, Vodafone Qatar and Nakilat, even as Commercial Bank, Dlala and Ooredoo bucked the trend.
Non-Qatari institutions’ net buying weakened to QR35.19mn against QR51.98mn the previous day.
The Gulf Co-operation Council (GCC) individual investors’ net buying soared to QR19.21mn compared to QR4.97mn on March 30.
Domestic institutions’ net profit booking fell to QR22.03mn against QR29.56mn on Monday.
The GCC institutions’ net selling weakened to QR2.82mn compared to QR5.01mn the previous day.
Local retail investors’ net profit booking rose to QR21.13mn against QR15.51mn on March 30.
Non-Qatari individual investors’ net selling rose to QR8.36mn compared to QR6.87mn the previous day.
Total trade volume rose 33% to 10.33mn shares, value by 43% to QR564.86mn and transactions by 6% to 5,927.
The banks and financial services sector reported 79% surge in trade volume to 3.46mn stocks, 85% in value to QR221.77mn and 54% in deals to 1,742.
The telecom sector’s trade volume expanded 65% to 2.01mn equities and value by 33% to QR52.54mn but transactions fell 17% to 1,182.
The consumer goods sector witnessed 51% jump in trade volume to 0.59mn shares and value by 10% to QR39.73mn, while deals shrank 35% to 360.
The market witnessed 20% expansion in the industrials sector’s trade volume to 1.76mn stocks, 64% in value to QR172.71mn and 21% in transactions to 1,494.
Although the insurance sector’s trade volume was flat at 0.01mn equities, there was 77% rise in value to QR0.69mn and 36% in deals to 30.
The real estate sector saw its trade volume decline 9% to 2.29mn shares, value by 14% to QR69.5mn and transactions by 6% to 958.
The transport sector’s trade volume tanked 5% to 0.2mn stocks, value by 41% to QR7.92mn and deals by 29% to 161.
In the debt market, there was no trading of treasury bills and government bonds.
