The Qatar Stock Exchange on Wednesday gained more than 50 points and its key index inched towards 11,000 points, mainly led by banks, real estate and telecom sectors.
The foreign funds were seen increasingly into net buying as the 20-stock Qatar Index rose 0.3% to finally settle at 10,997.7 points before touching an intraday high of 11,070 points.
The local and Arab retail investors were also increasingly bullish in the main market, whose year-to-date losses narrowed to 5.4%.
More than 52% of the traded constituents extended gains in the main bourse, whose capitalisation saw QR2.17bn or 0.35% increase to QR622.83bn, mainly on midcap segments.
The Gulf institutions turned net buyers in the main bourse, which saw a total of 0.31mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.82mn changed hands across 20 deals.
The Islamic index was seen gaining faster than the other indices in the main market, which saw no trading of sovereign bonds and treasury bills.
Trade turnover grew amidst lower volumes in the main market, while in the venture market, both trade turnover and volumes were on the increase.
The Total Return Index rose 0.3%, All Share Index by 0.3% and Al Rayan Islamic Index (Price) by 0.37%.
The realty sector index shot up 0.69%, banks and financial services (0.5%), telecom (0.43%), industrials (0.29%) and transport (0.04%); while consumer goods and services declined 0.82% and insurance (0.31%).
Major gainers in the main market included Estithmar Holding, Qatari German Medical Devices Lesha Bank, Milaha, Baladna, QNB, Industries Qatar, Barwa and Ooredoo. In the venture market, Mekdam Holding saw its shares appreciate in value.
Nevertheless, Al Meera, Zad Holding, Nakilat, Gulf Warehousing, Qatar Islamic Insurance and Inma Holding were among the losers in the main market. In the juniour bourse, Al Faleh Educational Holding saw its shares depreciate in value.
The foreign institutions’ net buying expanded significantly to QR15.38mn compared to QR5.43mn on December 20.
The local retail investors’ net buying increased substantially to QR7.99mn against QR0.27mn the previous day.
The Arab individuals’ net buying strengthened markedly to QR4.7mn compared to QR0.65mn on Tuesday.
The Gulf institutions were net buyers to the tune of QR3.82mn against net sellers of QR5.41mn on December 20.
However, the domestic institutions’ net selling grew considerably to QR30.78mn compared to QR1.62mn the previous day.
The foreign individuals turned net sellers to the extent of QR0.92mn against net buyers of QR0.36mn on Tuesday.
The Gulf retail investors were net profit takers to the tune of QR0.19mn compared with net buyers of QR0.33mn on December 20.
The Arab institutions had no major net exposure for the third straight session.
Total trade volume in the main market was down 0.22% to 77.63mn shares, whereas value was up 0.76% to QR304.26mn amidst 4% lower deals to 11,023.
In the venture market, trade volumes doubled to 0.06mn equities on 4% jump in value to QR0.25mn and 18% in transactions to 26.