An across the board buying – particularly in the realty and banking counters, led the 20-stock Qatar Share Index soar about 1% to this year’s high of 11,057.83 points as global oil prices were steady at over $55 a barrel.
Increased buying support from Gulf institutions also helped the bourse, whose year-to-date gains swelled to 5.95%.
Buying interests were predominant among large cap scrips in the market, where local retail investors were however increasingly net profit takers.
Trade turnover and volumes were on the increase in the bourse, where banking and real estate sectors together accounted for about 61% of the total volumes.
Market capitalisation expanded about QR4bn or 0.67% to QR591.64bn with large, small and midcap equities gaining 1.06%, 0.31% and 0.1% respectively, but microcaps were down 0.07%.
The Total Return Index gained 0.98% to 17,890.84 points, All Share Index by 0.83% to 3,024.99 points and Al Rayan Islamic Index by 1.16% to 4,126.85 points.
The real estate sector saw its index soar 1.39%, banks and financial services (1.23%), telecom (0.83%), consumer goods (0.43%), transport (0.22%), industrials (0.2%) and insurance (0.05%).
More than 63% of the stocks extended gains with major movers being Masraf Al Rayan, Commercial Bank, Ezdan, Barwa, Ooredoo, United Development Company, Mazaya Qatar, Alijarah Holding, Nakilat, Vodafone Qatar, QNB, Qatar Islamic Bank, Aamal Company and Industries Qatar.
Nevertheless, Qatar First Bank, Qatari German Company for Medical Devices, Doha Bank, Gulf International Services, Milaha, Dlala and Salam International Investment were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR27.52mn compared with net sellers of QR16.22mn on Monday.
The GCC (Gulf Cooperation Council) institutions’ net buying increased to QR6.7mn against QR2.72mn on January 23.
The GCC retail investors’ net selling weakened to QR2.77mn compared to QR3.18mn the previous day.
Non-Qatari individual investors’ net profit booking also declined to QR0.51mn against QR1.14mn on Monday.
However, local retail investors’ net selling strengthened substantially to QR68.41mn compared to QR22.84mn on January 23.
Domestic institutions’ net buying weakened to QR37.41mn against QR40.65mn the previous day.
Total trade volume rose 2% to 7.43mn shares, value by 10% to QR265.89mn and deals by 15% to 3,844.
The insurance sector’s trade volume more than tripled to 0.25mn equities and value also more than tripled to QR19.77mn on more than doubled transactions to 167.
There was 45% surge in the transport sector’s trade volume to 0.16mn stocks, 25% in value to QR5.94mn and 36% in deals to 140.
The industrials sector’s trade volume soared 32% to 0.87mn shares, value by 56% to QR42.89mn and transactions by 16% to 547.
The banks and financial services sector saw 20% expansion in trade volume to 2.77mn equities, 18% in value to QR110.26mn and 35% in deals to 1,514.
The telecom sector’s trade volume was up 2% to 0.56mn stocks, while value shrank 21% to QR10.28mn and transactions by 23% to 264.
However, the market witnessed 32% plunge in the consumer goods sector’s trade volume to 0.48mm shares, 38% in value to QR24.58mn and 4% in deals to 367.
The real estate sector’s trade volume tanked 17% to 2.34mn equities and value by 10% to QR52.17mn but on flat transactions at 845.
In the debt market, there was no trading of treasury bills and government bonds.
