The Qatar Stock Exchange on Thursday added more than 100 points to comfortably surpass 8,600 levels mainly on strong buying interests in telecom, consumer goods and industrials scrips.
Gulf funds were increasingly buyers and Gulf individuals turned marginally bullish as the 20-stock Qatar Index settled 1.19% higher at 8,621.34 points. Qatar Insurance and Masraf Al Rayan traded on the special market.
Islamic equities were seen outperforming the bourse, whose year-to-date losses were trimmed to 17.39%.
However, local retail investors were increasingly net sellers and foreign institutions’ buying interests weakened in the market, whose capitalisation vaulted 0.94% to QR475.73bn.
Trade turnover and volumes were on the decline in the market, where the telecom, banking and industrials sectors together accounted for more than 74% of the total volume.
The Total Return Index soared 1.19% to 14,457.47 points, the All Share Index by 0.78% to 2,468.41 points and the Al Rayan Islamic Index by 1.71% to 3,401.29 points.
The telecom index shot up 5.64%, followed by consumer goods (1.95%), industrials (1.24%), banks and financial services (0.74%) and transport (0.36%); while insurance and realty declined 2.6% and 0.11% respectively.
More than 68% of the traded entities extended gains with major movers being Ooredoo, Vodafone Qatar, Woqod, Qatar Islamic Bank, Qatar National Cement, Industries Qatar, Aamal Company, Mesaieed Petrochemical Holding, Barwa and Gulf Warehousing; even as Qatar Insurance, QIIB, Qatar Electricity and Water, Mazaya Qatar and Ezdan were among the losers.
Gulf institutions’ net buying increased perceptibly to QR7.06mn compared to QR5.25mn the previous day.
Gulf individual investors turned net sellers to the tune of QR0.08mn against net profit takers of QR0.49mn on Wednesday.
Domestic funds’ net selling declined considerably to QR3.09mn compared to QR9.64mn on December 20.
However, local individuals’ net profit-booking strengthened substantially to QR12.81mn against QR6.1mn the previous day.
Non-Qatari institutions’ net buying weakened marginally to QR11.82mn compared to QR13.97mn on Wednesday.
Non-Qatari retail investors’ net profit-booking remained flat at QR3.05mn.
Total trade volume fell 26% to 17.17mn shares, value by 35% to QR396.64mn and deals by 24% to 4,289.
The industrials sector reported a 61% plunge in trade volume to 3.91mn equities, 83% in value to QR51.3mn and 39% in transactions to 1,053.
The consumer goods sector’s trade volume plummeted 56% to 0.32mn stocks, value by 25% to QR12.7mn and deals by 27% to 232.
The market witnessed a 55% shrinkage in the real estate sector’s trade volume to 1.71mn shares, 52% in value to QR22.81mn and 47% in transactions to 553.
The banks and financial services sector’s trade volume tanked 33% to 4.21mn equities, value by 26% to QR146.27mn and deals by 32% to 1,368.
There was a 4% fall in the transport sector’s trade volume to 0.55mn stocks and 7% in value to QR10.7mn but on a 28% increase in transactions to 334.
However, the telecom sector’s trade volume more than tripled to 4.67mn shares and value grew more than five-fold to QR57.21mn on more-than doubled-deals to 693.
The insurance sector’s trade volume more than tripled to 1.8mn equities and value also more than tripled to QR95.65mn but on a 2% decline in transactions to 56.
In the debt market, there was no trading of treasury bills and sovereign bonds.