Tracking strong momentum in the global markets, the Qatar Stock Exchange Thursday saw its key index gain as much as 120 points and capitalisation add in excess of QR7bn.
A higher than average demand at the telecom, banking and insurance counters lifted the 20-stock Qatar Index by 1.07% to 11,336.59 points, although it touched an intraday low of 11,204 points.
The foreign institutions’ increased net buying had its influence on the main market, whose year-to-date gains improved to 5.33%.
About 54% of the traded constituents extended gains to investors in the main bourse, whose capitalisation, added QR7.2bn or 1.07% to QR680.12bn mainly on large and midcap segments.
The Gulf institutions were seen increasingly bullish in the main bourse, whose trade turnover and volumes were seen strengthening.
The Islamic index was seen gaining slower than the other indices of the main market, which saw as many as 0.03mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.15mn trade across two deals.
However, the local retail investors were increasingly net profit takers in the main bourse, which saw no trading of sovereign bonds.
The domestic funds were also increasingly bearish in the main market, which saw no trading of treasury bills.
The Total Return Index gained 1.07%, the All Share Index by 1.1% and the All Islamic Index by 0.97% in the main bourse.
The telecom sector index shot up 1.8%, banks and financial services (1.57%), insurance (1.14%), industrials (0.71%), real estate (0.7%) and consumer goods and services (0.03%); while transport declined 1.04%.
As many as 29 gained, while 17 declined and eight were unchanged.
Major movers in the main market included Qatar Islamic Bank, Qatar National Cement, QIIB, Qatar Insurance, Qatari Investors Group, QNB, Lesha Bank, Industries Qatar, Mesaieed Petrochemical Holding, Ooredoo and Vodafone Qatar.
In the junior bourse, Techno Q saw its shares appreciate in value.
Nevertheless, Qatar General Insurance and Reinsurance, Qatar Cinema and Film Distribution, Milaha, Nakilat and Qamco were among the shakers in the main market.
The foreign institutions’ net buying increased substantially to QR155.21mn compared to QR15.2mn on January 21.
The Gulf institutions’ net buying expanded considerably to QR33.32mn against QR18.41mn the previous day.
However, the Qatari retail investors’ net selling expanded drastically to QR132.64mn compared to QR3.51mn on Wednesday.
The domestic institutions’ net selling strengthened significantly to QR49.06mn against QR30.31mn on January 21.
The Arab retail investors turned net sellers to the tune of QR3.77mn compared with net buyers of QR0.08mn the previous day.
The foreign individuals’ net profit booking expanded perceptibly to QR2.22mn against QR0.69mn on Wednesday.
The Gulf retail investors were net sellers to the extent of QR0.86mn compared with net buyers of QR0.9mn on January 21.
The Arab funds had no major net exposure against net profit takers to the tune of QR0.09mn the previous day.
The main market saw a 7% jump in trade volumes to 135.44mn shares, 61% in value to QR627.67mn and 39% in deals to 32,118.
In the venture market, a total of 0.01mn equities valued at QR0.03mn changed hands across seven transactions.
