Reflecting the global optimism on Chinese stimulus and ahead of the US Fed meeting, the Qatar Stock Exchange on Wednesday rose more than 220 points and its key index surpassed 10,700 levels and capitalisation gained about QR10bn.
The banking counter witnessed higher than average demand as the 20-stock Qatar Index shot up 2.17% to 10,764.97 points.
The Gulf institutions were seen increasingly into net buying in the main market, which hit an intraday high of 10,768 points.
About 67% of the traded constituents extended gains to investors in the main bourse, which returned 0.79% gains year-to-date.
The foreign funds turned bullish in the main market, whose capitalisation added 1.6% to QR630.67bn with large and midcap segments gaining the most.
However, the ,local retail investors were increasingly net sellers in the main bourse, which saw a total of 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.13mn changed hands across six deals.
The domestic institutions were also increasingly net profit takers in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index soared 2.17%, All Share Index by 1.9% and Al Rayan Islamic Index (Price) by 1.64% in the main bourse, whose trade turnover and volumes were on the increase.
The banks and financial services sector index zoomed 2.85%, industrials (1.96%), consumer goods and services (0.54%) and transport (0.53%); while insurance declined 0.61%, real estate 0.17% and telecom (0.14%).
Major movers in the main market included Qatar Islamic Bank, Lesha Bank, Industries Qatar, Commercial Bank, Inma Holding, QIIB, Qatari German Medical Devices, Vodafone Qatar and Gulf Warehousing. In the venture market, Mahhar Holding saw its stocks appreciate in value.
Nevertheless, Qatar General Insurance and Reinsurance, Qatar Oman Investment, Ahlibank Qatar, Qatar Industrial Manufacturing and Mannai Corporation were among the losers in the main market.
The Gulf institutions’ net buying increased significantly to QR50.8mn compared to QR22.45mn on July 25.
The foreign funds turned net buyers to the tune of QR46.88mn against net sellers of QR21.85mn the previous day.
However, the local retail investors’ net selling grew substantially to QR47.35mn compared to QR2.62mn on Tuesday.
The domestic funds’ net profit booking strengthened considerably to QR29.84mn against QR3.83mn on July 25.
The Arab individuals were net sellers to the extent of QR11.61mn compared with net buyers of QR6.93mn the previous day.
The foreign individual investors’ net profit booking expanded markedly to QR7.11mn against QR0.71mn on Tuesday.
The Gulf individual investors’ net selling jumped perceptibly to QR1.77mn compared to QR0.38mn on July 25.
The Arab funds continued to have no major net exposure for the third straight session.
The main market saw a 12% contraction in trade volumes to 186.2mn shares but on 4% rise in value to QR536.56mn despite 1% lower deals at 16,892.
In the venture market, trade volumes surged 19% to 0.25mn equities, value by 23% to QR0.58mn and transactions by 77% to 55.
The banking counter witnessed higher than average demand as the 20-stock Qatar Index shot up 2.17% to 10,764.97 points on Wednesday