The Qatar Stock Exchange on Wednesday surpassed the 12,600 levels, mainly on the back of strong buying in the real estate counter.
The foreign and Gulf institutions were increasingly net buyers as the 20-stock Qatar Index settled 38 points or 0.3% higher at 12,610.29 points, recovering from an intraday low of 12,563 points.
The Islamic index was seen gaining faster than the other indices in the market, whose year-to-date gains stood at 8.47%.
About 49% of the traded constituents extended gains in the bourse, whose capitalisation saw more than QR2bn or 0.33% increase to QR723.87bn, mainly on the back of midcap segments.
The Gulf individuals’ weakened net selling pressure also had its influence in the market, where the industrials and realty sectors together accounted for more than 65% of the trading volume.
The domestic institutions continued to be net buyers but with lesser vigour in the bourse, which saw a total of 30,030 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR321,935 changed hands across 10 deals.
Four of the seven sectors were nevertheless under selling pressure in the market, which saw no trading of sovereign bonds.
Total trade turnover were on the rise amidst lower volumes in the bourse, which saw no trading of treasury bills.
The Total Return Index gained 0.3% to 24,962.83 points, Al Rayan Islamic Index (Price) by 0.71% to 2,779.98 points and All Share Index by 0.28% to 3,981.52 points.
The real estate sector index shot up 2.69%, industrials (0.31%) and banks and financial services (0.29%); while transport declined 0.53%, insurance (0.4%), consumer goods and services (0.16%) and telecom (0.12%).
Major movers in the main market included Qatar Industrial Manufacturing, United Development Company, Qatar National Cement, Barwa, Mesaieed Petrochemical Holding, Masraf Al Rayan, Al Meera, Qatar General Insurance and Reinsurance and Gulf Warehousing. In the venture market, Mekdam Holding saw its shares appreciate in value.
Nevertheless, Dlala, Widam Food, Gulf International Services, Alijarah Holding, Al Khaleej Takaful, Commercial Bank, Inma Holding, Qatari German Medical Devices, Industries Qatar, Qamco, Qatar Insurance, Mazaya Qatar, Vodafone Qatar and Nakilat in the main market. In the juniour bourse, Al Faleh Educational Holding saw its scrips depreciate in value.
The foreign institutions’ net buying increased substantially to QR61.09mn compared to QR53mn on February 2.
The Gulf funds’ net buying strengthened considerably to QR18.86mn against QR8.47mn the previous day.
The foreign individuals turned net buyers to the tune of QR3.03mn compared with net sellers of QR7.58mn on Tuesday.
The Gulf individuals’ net selling declined perceptibly to QR0.56mn against QR2.04mn on February 2.
However, Qatari individuals’ net selling grew drastically to QR93.34mn compared to QR65.13mn the previous day.
The Arab individuals’ net buying shrank noticeably to QR4.34mn against QR6.18mn on Tuesday.
The domestic institutions’ net buying eased marginally to QR6.57mn compared to QR7.1mn on February 2.
The Arab institutions continued to have no major net exposure for the third straight session.
Total trade volume in the main market fell 4% to 181.02mn shares, while value rose 4% to QR607.33mn despite 2% lower transactions at 12,707.
The transport sector’s trade volume plummeted 58% to 6.14mn equities, value by 52% to QR34.5mn and deals by 33% to 839.
The consumer goods and services sector saw 31% plunge in trade volume to 19.33mn stocks, 29% in value to QR47.7mn and 34% in transactions to 1,025.
The banks and financial services sector’s trade volume tanked 21% to 27.29mn shares, whereas value shot up 11% to QR186.95mn amidst 18% lower deals at 4,069.
There was 12% shrinkage in the insurance sector’s trade volume to 3.45mn equities and 24% in value to QR9.9mn but on 13% increase in transactions to 429.
The industrials sector’s trade volume was down 3% to 67.22mn stocks, while value grew 4% to QR208.36mn and deals by 7% to 4,031.
However, the telecom sector’s volume soared 87% to 7.05mn shares and value more than doubled to QR32.53mn on more than doubled transactions to 814.
The market witnessed 46% surge in the real estate sector’s trade volume to 50.53mn equities and 86% in value to QR87.49mn on more than doubled deals to 1,500.
In the venture market, volumes expanded 43.64% to 1.58mn stocks, value by 51.93% to QR14.16mn and transactions by 12.59% to 599.
