Reflecting the rally in the global bourses after the US Fed hiked interest rates to their highest level in more than two decades, the Qatar Stock Exchange on Thursday gained 130 points to inch towards 10,900 levels and capitalisation added QR9bn.
The foreign institutions were increasingly into net buying as the 20-stock Qatar Index shot up 1.2% to 10,894.59 points.
The industrials and real estate counters witnessed higher than average demand in the main market, which recovered from an intraday low of 10,750 points.
As much as 52% of the traded constituents extended gains to investors in the main bourse, whose year-to-date gains improved to 2%.
The foreign individual investors’ lower net profit booking was seen influential in the main market, whose capitalisation added 1.37% to QR639.34bn with midcap segments gaining the most.
The Gulf retail investors’ weakened net selling also had its say in the main bourse, which saw a total of 0.15mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.37mn changed hands across 12 deals.
The local individuals and domestic institutions were 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 1.2%, All Share Index by 1.26% and Al Rayan Islamic Index (Price) by 1.04% in the main bourse, whose trade turnover and volumes were on the increase.
The industrials sector index shot up 2.89%, realty (1.25%), banks and financial services (1.06%), transport (0.87%) and telecom (0.53%); while consumer goods and services declined 0.39% and insurance 0.12%.
Major movers in the main market included Industries Qatar, Beema, QNB, Barwa, Ahlibank Qatar, Lesha Bank, Medicare Group, Qatar National Cement, Qatar Industrial Manufacturing, Qatar Electricity and Water, and Milaha.
Nevertheless, Zad Holding, Doha Bank, Qatari German Medical Devices, Masraf Al Rayan, Inma Holding, Qatari Investors Group and Ezdan were among the losers in the main market. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their stocks depreciate in value.
The foreign institutions’ net buying increased noticeably to QR58.38mn compared to QR46.88mn on July 26.
The Arab individuals’ net selling declined markedly to QR4.25mn against QR11.61mn the previous day.
The foreign individual investors’ net profit booking shrank perceptibly to QR3.02mn compared to QR7.11mn on Wednesday.
The Gulf retail investors’ net selling weakened marginally to QR0.93mn against QR1.77mn on July 26.
However, the Qatari individuals’ net selling grew notably to QR50.02mn compared to QR47.35mn the previous day.
The domestic funds’ net profit booking strengthened considerably to QR48.12mn against QR29.84mn on Wednesday.
The Gulf institutions’ net buying decreased marginally to QR48.06mn compared to QR50.8mn on July 26.
The Arab institutions were net sellers to the tune of QR0.08mn against no major net exposure the previous three sessions.
The main market saw a 31% surge in trade volumes to 244.36mn shares, 15% in value to QR616.68mn and 20% in deals to 20,224.
In the venture market, trade volumes tanked 32% to 0.17mn equities, value by 50% to QR0.29mn and transactions by 44% to 31.