Telecom, consumer goods, banking and transport counters witnessed the maximum buying to lift the 20-stock Qatar Index 0.9% to 9,633.32 points.
Lower selling pressure from local and non-Qatari retail investors as well as higher buying support from Gulf institutions helped sustain the bullish momentum in the market, where trading turnover and volumes were on the rise.
However, Gulf individual investors turned bearish and there was lower net buying by domestic institutions in the bourse, which is down 7.63% year-to-date.
Small and mid cap equities saw maximum buying in the market, where banking, industrials, realty and telecom sectors together accounted for about 78% of the total trading volume.
Market capitalisation expanded 0.9% or about QR5bn to QR514bn with mid and small cap equities gaining 1.19% each and large caps (0.91%); whereas micro caps were down 0.05%.
The Total Return Index rose 1.24% to 15,024.12 points, All Share Index by 1.27% to 2,565.48 points and Al Rayan Islamic Index by 0.3% to 3,410.87 points.
Telecom stocks soared 4.8%, consumer goods (2.11%), banks and financial services (2.09%), transport (1.97%), insurance (1.39%) and industrials (0.24%); whereas real estate fell 0.9%.
As much as 65% of the traded stocks extended gains with major movers being Ooredoo, Qatar Insurance, Qatar Islamic Bank, QNB, Aamal Company, Nakilat, Milaha, Alijarah Holding and Doha Insurance; even as Industries Qatar, Mazaya Qatar, Ezdan, Barwa and Qatari German Company for Medical Devices bucked the trend.
Local retail investors’ net profit booking weakened substantially to QR1.1mn against QR14.1mn on Monday.
Non-Qatari individual investors’ net selling also declined to QR6.02mn compared to QR10.08mn on February 1.
The GCC (Gulf Cooperation Council) institutions’ net buying strengthened to QR9.58mn against QR7.69mn the previous day.
However, foreign institutions turned net sellers to the tune of QR1.24mn compared with net buyers of QR10.84mn on Monday.
The GCC individuals were also net sellers to the extent of QR2.35mn against net buyers of QR1.99mn on February 1.
Domestic institutions’ net buying weakened to QR1.14mn compared to QR3.65mn the previous day.
Total trade volume rose 2% to 8.97mn shares, value by 34% to QR317.1mn and deals by 20% to 5,042.
The insurance sector’s trade volume more than quadrupled to 0.78mn equities and value almost tripled to QR25.12mn on 8% jump in transactions to 147.
The banks and financial services sector reported 80% surge in trade volume to 2.59mn stocks, more than doubled value to QR118.29mn and 69% expansion in deals to 1,658.
The market witnessed 69% surge in the industrials sector’s trade volume to 1.77mn shares, 14% in value to QR74.7mn and 31% in transactions to 1,053.
However, the consumer goods sector’s trade volume plummeted 45% to 0.88mn equities, 4% in value to QR31.36mn and 16% in deals to 554.
The real estate sector saw 42% plunge in trade volume to 1.43mn stocks, 41% in value to QR24.7mn and 19% in transactions to 684.
The telecom sector’s trade volume tanked 28% to 1.18mn shares, even as value shot up 28% to QR32.14mn and deals by 21% to 752.
The market witnessed 15% shrinkage in the transport sector’s trade volume to 0.33mn equities but on 24% increase in value to QR10.79mn and 13% in transactions to 194
In the debt market, there was no trading of treasury bills and government bonds.
