The Qatar Stock Exchange on Wednesday surpassed 9,000 levels on strong buying interests, particularly in the telecom and realty counters.
Non-Qatari individuals’ marginally bullish outlook and the local retail investors’ weakened net selling helped the 20-stock Qatar Index gain 0.81% to 9,060.67 points.
The Shariah-principled stocks were seen gaining faster than the main market, which is up 6.3% year-to-date.
Buying was seen pronounced in large and mid-cap stocks on the bourse, whose capitalisation grew 0.82% to QR483.11bn.
More than 68% of the stocks extended gains in the market, which also saw weakened net selling by foreign institutions.
Trade turnover shrank amidst higher volumes on the bourse, where banking, industrial and real estate sectors together accounted for about 86% of the total volume.
The Total Return Index rose 0.81% to 15,297.69 points, Al Rayan Islamic Index by 0.9% to 3,676.32 points and All Share Index by 0.96% to 2,523.65 points.
The telecom index shot up 2.91%, realty (2.25%), banks and financial services (0.86%), consumer goods (0.74%), insurance (0.55%) and industrials (0.12%); while transport was rather unchanged.
Major gainers included Ooredoo, Vodafone Qatar, Ezdan, Mazaya Qatar, Commercial Bank, Masraf Al Rayan, Qatar First Bank, Aamal Company, Gulf International Services, Gulf Warehousing and Nakilat; even as Qatari Investors Group, Qatar Electricity and Water and Dlala were among the losers.
Non-Qatari retail investors turned net buyers to the tune of QR0.29mn compared with net sellers of QR2.3mn on Monday.
Local individuals’ net profit booking declined substantially to QR0.27mn against QR12.92mn the previous day.
Non-Qatari institutions’ net selling weakened perceptibly to QR3.16mn compared to QR5.07mn on February 12.
However, domestic institutions’ net buying shrank considerably to QR8.54mn against QR21.17mn on Monday.
The Gulf institutions’ net selling strengthened influentially to QR4.06mn compared to QR0.75mn the previous day.
The Gulf individual investors’ net profit booking grew marginally to QR1.35mn against QR0.14mn on Monday.
Total trade volume rose 12% to 11.04mn shares, while value fell 4% to QR225.81mn and transactions by 7% to 3,968.
The banks and financial services sector saw 43% surge in trade volume to 6.5mn equities but on 5% slump in value to QR104.33mn and 12% in deals to 1,436.
However, the insurance sector’s trade volume plummeted 53% to 0.07mn stocks, value by 52% to QR3.29mn and transactions by 23% to 102.
The telecom sector reported 28% plunge in trade volume to 0.79mn shares, 14% in value to QR13.21mn and 22% in deals to 318.
The transport sector’s trade volume tanked 23% to 0.2mn equities, value by 1% to QR6.28mn and transactions by 10% to 177.
There was 10% shrinkage in the consumer goods sector’s trade volume to 0.55mn stocks but on 38% increase in value to QR32.19mn and 33% in deals to 441.
The industrials sector’s trade volume declined 9% to 1.55mn shares and value by 3% to QR43.81mn, whereas transactions were up 4% to 908.
The market witnessed 7% fall in the real estate sector’s trade volume to 1.39mn equities, 19% in value to QR22.69n and 18% in deals to 586.
In the debt market, there was no trading of treasury bills and sovereign bonds.