Heavy demand particularly for realty and some banking stocks on Tuesday lifted the Qatar Stock Exchange by a huge 168 points to more than 10,900 levels.
Foreign institutions’ net buying support rather resulted in the 20-stock Qatar Share Index gain for the fifth consecutive session by 1.57% to 10,927.83 points as global oil prices strengthened on the back of weak dollar.
Islamic stocks were seen outperforming the main index in the market, whose year-to-date gains were seen at 4.71%.
Trade turnover and volumes increased substantially in the bourse, where real estate, banking and industrials sectors together accounted for more than 80% of the total volumes.
Market capitalisation rose more than QR5bn or 0.95% to QR583.4bn with mid, large, micro and small cap equities gaining 1.44%, 1.09%, 0.8% and 0.54% respectively.
The Total Return Index gained 1.57% to 17,680.51 points, All Share Index by 1.32% to 2,987.67 points and Al Rayan Islamic Index by 1.73% to 4,075.27 points.
The realty sector saw its index appreciate 3.37%, telecom (1.47%), transport (1.44%), consumer goods (1.2%), banks and financial services (1.12%), insurance (0.68%) and industrials (0.29%).
Three-fourth of the traded stocks extended gains with major movers being Masraf Al Rayan, Qatar Islamic Bank, Doha Bank, Barwa, Ezdan, Ooredoo, Nakilat, Mazaya Qatar, United Development Company, Widam Food, Mannai Corporation, Gulf International Services and QIIB; even as QNB, Aamal Company, Alijarah Holding and Qatar First Bank were among the losers.
Non-Qatari institutions turned net buyers to the extent of QR41.49mn compared with net sellers of QR12.82mn on January 16.
The GCC (Gulf Cooperation Council) individual investors’ net buying strengthened considerably to QR11.49mn against QR0.03mn on Monday.
Local retail investors’ net profit booking weakened substantially to QR16.19mn compared to QR81.77mn the previous day.
However, domestic institutions turned net sellers to the tune of QR17.45mn against net buyers of QR89.08mn on January 16.
The GCC institutions were also net profit takers to the extent of QR7.66mn compared with net buyers of QR13.27mn on Monday.
Non-Qatari individual investors’ net selling increased perceptibly to QR11.73mn against QR7.77mn the previous day.
Total trade volume rose 92% to 16.39mn shares, value by 60% to QR484.73mn and deals by 53% to 5,307.
The real estate sector’s trade volume more than quadrupled to 7.59mn equities and value also more than quadrupled to QR155.55m on almost quadrupled transactions to 1,451.
The consumer goods sector’s trade volume almost tripled to 0.51mn stocks and value more than tripled to QR30.34mn on almost doubled deals to 470.
There was 87% surge in the telecom sector’s trade volume to 1.78mn shares, 86% in value to QR24.2mn and 54% in transactions to 278.
The transport sector’s trade volume soared 86% to 0.91mn equities, value by 76% to QR25.3mn and deals by 26% to 387.
The industrials sector reported 12% expansion in trade volume to 2.36mn stocks and 15% in value to QR98.35mn but on 3% fall in transactions to 863.
The banks and financial services sector’s trade volume was up 8% to 3.18mn shares, value by 5% to QR146.94mn and deals by 30% to 1,785.
However, the market witnessed 36% plunge in the insurance sector’s trade volume to 0.07mn equities, 49% in value to QR4.05mn and 12% in transactions to 73.
In the debt market, there was no trading of treasury bills and government bonds.
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