By Santhosh V. Perumal/Business Reporter
A substantial buying in the insurance, real estate and industrials stocks led Qatar Stock Exchange surpass 12,300 levels with an ease.
The Gulf Cooperation Council (GCC) institutions’ bullish outlook and increased net buying support from domestic and foreign institutions helped the 20-stock Qatar Index surge 1.04% to 12,334.06 as trade volumes also grew.
Small and mid cap stocks were high in demand in the bourse, which reported wiping off the inherited losses by gaining 0.39% year-to-date.
However, net selling pressure from local, GCC and non-Qatari retail investors were visible in the market, where trading was skewed towards real estate, banking, consumer goods and industrials stocks, which together accounted for about 84% of the overall volume.
Market capitalisation expanded 0.96% or more than QR6bn to QR663.83bn with small, mid, large and micro cap equities appreciating 2.44%, 1.19%, 0.63% and 0.44% respectively.
The Total Return Index surged 1.04% to 19,167.78 points, All Share Index by 0.99% to 3,297.69 points and Al Rayan Islamic Index by 1.47% to 4,725.89 points.
Insurance stocks appreciated 4.22%, realty (1.74%), industrials (1.28%), telecom (0.58%), banks and financial services (0.4%), consumer goods (0.16%) and transport (0.12%).
About 66% of the stocks extended gains with major movers being Industries Qatar, QNB, Qatar Insurance, Barwa, United Development Company, Mazaya Qatar, Vodafone Qatar, Qatar Islamic Bank, Alijarah Holding, Qatar National Cement and Qatari Investors Group; even as Aamal Company, Gulf International Services and Islamic Holding Group were seen bucking the trend.
The GCC institutions turned net buyers to the tune of QR6.02mn against net sellers of QR9mn the previous day.
Non-Qatari institutions’ net buying soared to QR49.83mn compared to QR19.91mn on Tuesday.
Domestic institutions’ net buying strengthened to QR30.33mn against QR12.64mn on May 5.
However, local retail investors’ net selling increased to QR74.6mn compared to QR20.43mn the previous day.
The GCC individual investors’ net profit booking strengthened to QR8.38mn against QR1.5mn on Tuesday.
Non-Qatari individual investors’ net selling rose to QR3.2mn compared to QR1.57mn on May 5.
Total trade volume shot up 78% to 16.16mn shares and value more than doubled to QR761.99mn on 27% jump in transactions to 7,190.
The real estate sector’s trade volume almost tripled to 5.08mn equities and value more than tripled to QR197.4mn on 80% expansion in deals to 1,412.
The industrials sector’s trade volume more than doubled to 2.07mn stocks and value almost tripled to QR171.96mn on 68% rise in transactions to 1,499.
The market witnessed 86% surge in the transport sector’s trade volume to 0.52mn shares, value by 13% to QR19.42mn and deals by 4% to 287.
The telecom sector’s trade volume soared 83% to 1.83mn equities, value by 91% to QR39.29mn and transactions by 56% to 587.
The insurance sector saw its trade volume increase 59% to 0.27mn stocks, value by 15% to QR11mn and deals by 11% to 167.
The banks and financial services sector reported 38% expansion in trade volume to 3.76mn shares, 70% in value to QR269.16mn and 3% in transactions to 2,362.
There was 23% jump in the consumer goods sector’s trade volume to 2.61mn equities, 17% in value to QR53.75mn and 2% in deals to 876.
The debt market saw a total of 47,000 treasury bills valued at QR466.73mn change hands across five transactions; where there was no trading of government bonds.
