The Qatar Stock Exchange (QSE) on Thursday surged more than 300 points in index and capitalisation added QR16bn, making it one of the best performers in the Gulf region, despite global concerns over precarious outlook on China and the resultant weak demand for oil.
About 79% of the traded constituents extended gains to investors as the 20-stock Qatar Index shot up 2.77% to 11,145.31 points, partly reflecting the positive outlook of Qatar’s purchasing managers’ index, which found post World Cup, immense potential existed for the country’s non-oil private sector.
The market recovered from an intraday low of 10,837 points.
The foreign funds were increasingly net buyers in the main market, whose year-to-date gains improved to 4.35%.
Although six of the seven sectors were in the positive trajectory, the banking sector saw higher than average demand in the main bourse, whose capitalisation saw QR15.96bn or 2.59% increase to QR631.93bn, mainly led by large and midcap segments.
The domestic institutions’ weakened net selling had its influence on the main market, which saw a total of 1.47mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR3.57mn changed hands across 68 deals.
Nevertheless, the Gulf institutions were seen net profit takers in the main bourse, which saw no trading of sovereign bonds.
The Islamic index gained slower than the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index zoomed 2.77%, the All Share Index by 2.77% and the Al Rayan Islamic Index (Price) by 1.34% in the main bourse, whose trade turnover and volumes were on the increase.
The banks and financial services sector index soared 4.31%, followed by insurance (2.24%), transport (1.94%), telecom (1.07%), industrials (0.98%) and real estate (0.7%); while consumer goods and services declined 0.18%.
Major gainers in the main market included Commercial Bank, QLM, QNB, Qatar Islamic Bank, Dlala, Masraf Al Rayan, Doha Bank, Mekdam Holding, Qatar National Cement, Al Khaleej Takaful and Nakilat.
Nevertheless, Qatar General Insurance and Reinsurance, Woqod, Vodafone Qatar, Baladna, Al Meera and Ezdan were among the shakers in the main market.
In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
The foreign institutions’ net buying expanded substantially to QR66.49mn compared to QR16.37mn on January 4.
The domestic funds’ net profit booking eased perceptibly to QR31.6mn against QR33.11mn the previous day.
The Gulf retail investors’ net selling weakened marginally to QR0.3mn compared to QR0.35mn on Wednesday.
However, the Gulf institutions turned net sellers to the tune of QR15.75mn against net buyers of QR8.3mn on January 4.
The local retail investors were net sellers to the extent of QR11.73mn compared with net buyers of QR4.33mn the previous day.
The Arab individuals turned net profit takers to the tune of QR7.02mn against net buyers of QR1.8mn on Wednesday.
The foreign individuals were net sellers to the extent of QR0.09mn compared with net buyers of QR2.53mn on January 4.
The Arab institutions’ net buying decreased marginally to QR0.01mn against QR0.11mn the previous day.
The main market saw a 26% surge in trade volume to 137.87mn shares, 57% in value to QR553.58n and 61% in deals to 20,075.
In the junior bourse, as many as 17,000 equities valued at QR0.02mn changed hands across two transactions.
QSE
