Domestic institutions’ stronger buying interests led the 20-stock Qatar Index to gain 1.12% to 9,358.6 points.
The local bourse is up 9.8% year-to-date.
The consumer goods and transport counters witnessed higher-than-average demand in the market, where mid, micro and small cap stocks saw larger gains.
Islamic stocks were seen outperforming the bourse, whose capitalisation gained 0.67% to QR510.43bn.
Trade turnover and volumes were on the increase in the bourse, where the banking and real estate sectors together accounted for more than 67% of the total volume.
The Total Return Index gained 1.12% to 15,693.81 points, the All Share Index by 0.82% to 2,644.16 points and the Al Rayan Islamic Index by 1.53% to 3,703.17 points.
The consumer goods soared 2.88%, followed by transport (2.22%), realty (0.93%), banks and financial services (0.92% and industrials (0.89%); while insurance shrank 1.18% and telecom 0.75%.
More than 72% of the traded stocks extended gains with major movers being Doha Bank, Qatar Oman Investment, Milaha, Nakilat, Gulf International Services, United Development Company, Medicare Group, Salam International Investment, Mesaieed Petrochemical Holding, Vodafone Qatar and Barwa; whereas Qatar First Bank, Ooredoo, Qatar Insurance and Islamic Holding Group were among the losers.
Domestic institutions’ net buying increased impressively to QR50.63mn compared to QR27.16mn on January 23.
Non-Qatari institutions’ net selling weakened considerably to QR3.77mn against QR9.07mn the previous day.
The Gulf retail investors’ net profit-booking fell marginally to QR0.34mn compared to QR0.37mn on Tuesday.
However, local individuals’ net selling strengthened substantially to QR38.21mn against QR23.46mn on January 23.
The Gulf institutions were net sellers to the extent of QR12.16mn compared with net buyers of QR0.31mn the previous day.
Non-Qatari retail investors’ net buying weakened perceptibly to QR3.82mn against QR5.44mn on Tuesday.
Total trade volume rose 29% to 15.16mn shares, value by 35% to QR419.44mn and deals by 40% to 5,810.
The banks and financial services sector saw a 47% surge in trade volume to 7.68mn equities, 73% in value to QR198.39mn and 75% in transactions to 2,306.
The consumer goods sector’s trade volume soared 43% to 1.16 stocks and value by 15% to QR772mn, while deals fell 7% to 837.
The market witnessed a 43% increase in the telecom sector’s trade volume to 1.59mn shares but on a 19% decline in value to QR22.86mn despite 31% higher transactions to 442.
The insurance sector’s trade volume expanded 25% to 0.15mn equities and value by 23% to QR7.94mn on doubled deals to 154.
There was a 15% increase in the transport sector’s trade volume to 0.68mn stocks, 61% in value to QR21.12mn and 77% in transactions to 346.
The real estate sector’s trade volume grew 11% to 2.55mn shares, value by 17% to QR45.33mn and deals by 34% to 881.
However, the industrials sector reported a 15% decline in trade volume to 1.35mn equities but on an 11% jump in value to QR47mn and 26% in transactions to 844.
In the debt market, there was no trading of treasury bills and sovereign bonds.
QSE
Buoyant corporate earnings outlook on Wednesday helped the Qatar Stock Exchange cross 9,300 levels with ease as market capitalisation surpassed QR510bn.
