The Qatar Stock Exchange on Monday gained 87 points to inch near 8,900 levels and capitalisation add QR9bn mainly on strong buying interests in insurance, real estate, telecom and industrials counters.
The Gulf institutions were increasingly bullish as the 20-stock Qatar Index gained about 1% to 8,889.92 points. The country’s first exchange traded fund QETF saw 0.17% gains.
Non-Qatari individuals’ weakened net selling also helped the market, which is up 4.3% year-to-date.
Mid and large cap stocks witnessed faster accretion in value in the bourse, leading to a 1.8% surge in capitalisation to QR486.89bn.
Trade turnover and volumes were on the increase in the market, where telecom, banking and industrials sectors together accounted for more than 70% of the total volume.
The Total Return Index gained 1.16% to 15,512.32 points, All Share Index by 2.1% to 2,587.07 points and Al Rayan Islamic Index by 1.09% to 3,628.07 points.
The insurance index shot up 7.2%, realty (4.68%), telecom (4.18%), industrials (1.6%), banks and financial services (1.05%) and consumer goods (0.57%); whereas transport declined 0.13%.
About 74% of the stocks extended gains with major movers being Qatar Insurance, Vodafone Qatar, Ezdan, Qatar General and Reinsurance, Industries Qatar, Aamal Company, Gulf International Services, QNB, Commercial Bank, Doha Bank, Ooredoo, Gulf Warehousing and Islamic Holding Group.
Nevertheless, Milaha, United Development Company, Mazaya Qatar, Al Khaliji, Qatar National Cement, Qatar Electricity and Water and Masraf Al Rayan were among the losers.
The Gulf institutions’ net buying increased influentially to QR28.99mn compared to QR21.06mn the previous day.
Non-Qatari individuals’ net profit booking weakened considerably to QR2.62mn against QR10.01mn on Sunday.
However, domestic funds’ net selling strengthened significantly to QR39.7mn compared to QR33.96mn on March 18.
Local retail investors’ net selling also grew substantially to QR12.82mn against QR9.04mn the previous day.
The Gulf individuals’ net profit booking rose noticeably to QR4.8mn compared to QR0.41mn on Sunday.
Non-Qatari institutions’ net buying expanded marginally to QR30.94mn against QR32.36mn on March 18.
Total trade volume rose 34% to 15.84mn shares, value by 7% to QR335.55mn and transactions by 38% to 5,184.
The telecom sector’s trade volume more than doubled to 4.82mn equities, value also more than doubled to QR52.18mn and deals almost tripled to 855. The consumer goods sector’s trade volume doubled to 0.3mn stocks and value more than doubled to QR24.16mn on 45% jump in transactions to 303.
The real estate sector reported 79% surge in trade volume to 2.26mn shares, 44% in value to QR27.64mn and 71% in deals to 705.
The banks and financial services sector’s trade volume soared 70% to 3.91mn equities, value by 32% to QR103.06mn and transactions by 46% to 1,596.
The transport sector saw 57% increase in trade volume to 0.77mn stocks but more than doubling value to QR27.21mn on 31% jump in deals to 386. The industrials sector’s trade volume gained 12% to 2.4mn shares, value by 6% to QR51.29mn and transactions by 20% to 943.
However, there was 61% shrinkage in the insurance sector’s trade volume to 1.38mn equities, 61% in value to QR50.01mn and 40% in deals to 396.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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