Global sentiments lift QSE 126 points; Islamic index outperforms

Reflecting the mood in the global markets and higher oil prices, ahead of the US Federal Reserve chief’s speech; the Qatar Stock Exchange Wednesday witnessed 126 points gain in the key index and QR8bn in capitalisation.
Continuing the strong bullish phase for the second straight session, the 20-stock Qatar Index shot up 1.07% to 11,925.98 points, recovering from an intraday low of 11,756 points.
The telecom, banking and real estate counters witnessed higher than average demand in the main market, whose year-to-date gains improved to 2.58%.
The foreign institutions were increasingly net buyers in the main bourse, whose capitalisation saw QR8.11bn or 1.23% jump to QR669.5bn, mainly on mid and large cap segments.
About 57% of the traded constituents extended gains in the main bourse, which saw a total of 0.13mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.35mn changed hands across 11 deals.
The Islamic index was seen outperforming other indices in the main market, which saw no trading of sovereign bonds.
Trade turnover and volumes were on the increase in the main market, which saw no trading of treasury bills.
The Total Return Index gained 1.07%, the All Share Index by 1.07% and the Al Rayan Islamic Index (Price) by 1.13%.
The telecom sector index zoomed 2.37%, banks and financial services (1.58%), realty (1.45%), industrials (0.69%) and transport (0.21%); while insurance declined 1.96% and consumer goods and services (0.53%).
Major gainers in the main market included Qatari German Medical Devices, Mannai Corporation, Qatar Islamic Bank, Qatari Investors Group, Barwa, QNB, Baladna, Widam Food, Industries Qatar, Mesaieed Petrochemical Holding, Ooredoo, Vodafone Qatar and Nakilat.
Nevertheless, Qatar Insurance, Medicare Group, Qatar Industrial Manufacturing, Woqod, Gulf Warehousing, Qatar Electricity and Water and Milaha were among the losers in the main market. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value.
The foreign institutions’ net buying increased substantially to QR160.61mn compared to QR41.56mn on November 29.
The Arab institutions turned net buyers to the tune of QR0.22mn against net profit takers of QR0.01mn on Tuesday.
The Gulf individuals’ net selling declined perceptibly to QR0.44mn compared to QR2.02mn the previous day.
The foreign individuals’ net selling shrank noticeably to QR0.04mn against QR2.33mn on November 29.
However, the domestic funds’ net selling shot up significantly to QR109.75mn compared to QR34.02mn on Tuesday.
The local retail investors’ net selling zoomed considerably to QR36.64mn against QR2.41mn the previous day.
The Gulf institutions’ net profit booking expanded drastically to QR8.1mn compared to QR1.26mn on November 29.
The Arab retail investors were net sellers to the tune of QR5.88mn against net buyers of QR0.48mn on Tuesday.
Total trade volume in the main market more than doubled to 238.16mn shares and value more than tripled to QR1.49bn on 20% surge in deals to 20,130.
Trade volumes were seen doubling to 0.08mn equities and value soared 74% to QR0.59mn on 69% jump in transactions to 54.