The Qatar Stock Exchange on Tuesday bounced back to inch near 9,200 levels and capitalisation reached above QR504bn mainly on the back of strong bullish outlook of foreign institutions.
Transport, industrials and banking counters witnessed robust demand, helping the 20-stock Qatar Index surge 2.58% to 9,178.18 points, reflecting the global energy market where crude traded above $70 a barrel for the first time since December 2014.
Large, mid and micro-cap stocks found favour on the bourse, whose capitalisation gained 2% to QR504.23bn.
Trade turnover and volumes, however, declined in the market, where banking, real estate and industrials sectors together accounted for about 79% of the total volume.
The Total Return Index soared 2.58% to 15,391.26 points, All Share Index by 2.04% to 2,618.29 points and Al Rayan Islamic Index by 2.51% to 3,660.33 points.
The transport index surged 3.9%, industrials (2.43%), banks and financial services (2.37%), telecom (1.83%), realty (1.44%) and consumer goods (0.95%); while insurance fell 0.12%.
More than 76% of the stocks extended gains with major movers being Industries Qatar, QNB, Milaha, Qatari Investors Group, Aamal Company, Qatar Electricity and Water, Qatar Islamic Bank, Doha Bank, Masraf Al Rayan, Gulf International Services, Mesaieed Petrochemical Holding, Barwa, Mazaya Qatar, Ezdan, Ooredoo, Vodafone Qatar, Gulf Warehousing and Nakilat; whereas Al Khaliji and Qatar Insurance were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR37.4mn compared with net sellers of QR10.09mn on Monday.
Non-Qatari retail investors’ net profit booking weakened marginally to QR4.86mn against QR6.45mn the previous day.
However, domestic institutions’ net selling strengthened considerably to QR20.2mn compared to QR1.21mn on January 15.
Local individuals turned net sellers to the extent of QR5.6mn against net buyers of QR21.49mn on Monday.
The Gulf institutions’ net profit booking rose perceptibly to QR5.55mn compared to QR4.52mn the previous day.
The Gulf retail investors turned net sellers to the tune of QR1.13mn against net buyers of QR0.75mn on January15.
Total trade volume shrank 55% to 9.34mn shares, value by 41% to QR246.67mn and deals by 13% to 5,001.
The industrials sector reported 78% plunge in trade volume to 1.56mn equities, 63% in value to QR36.55mn and 50% in transactions to 847.
The banks and financial services sector’s trade volume plummeted 55% to 3.77mn stocks, value by 39% to QR120.83mn and deals by 3% to 1,946.
There was 47% shrinkage in the telecom sector’s trade volume to 0.93mn shares and 37% in value to QR20.36mn but on 38% increase in transactions to 635.
The insurance sector’s trade volume tanked 47% to 0.17mn equities, whereas value expanded 53% to QR9.66mn and deals by 99% to 213.
The market witnessed 15% decline in the transport sector’s to 0.44mn stocks, 32% in value to QR9.27mn and 19% in transactions to 257.
The consumer goods sector’s trade volume shrank 13% to 0.45 shares, value by 52% to QR14.04mn and deals by 23% to 340.
The real estate sector’s trade volume was down 10% to 2.01mn equities and value by 9% to QR35.96mn, while transactions grew 7% to 763.
In the debt market, there was no trading of treasury bills and sovereign bonds.