The Qatar Stock Exchange continued its upward rally for the second straight session on Monday as its key index surpassed 8,700 levels, mainly on the back of buying interests in foreign institutions.
The insurance and banking counters witnessed higher than average demand as the 20-stock Qatar Index added another 60 points, or 0.69%, to 8,729.15 points.
Domestic institutions’ substantially weakened net selling also helped the market, which is up 2.41% year-to-date.
The Doha Bank and Masraf Al Rayan sponsored exchange traded funds QETF and QATR saw 0.64% and 0.43% gains respectively.
Small-cap equities witnessed robust buying interests in the bourse, whose capitalisation gained 0.24% to QR479.8bn.
Trade turnover and volumes were on the increase in the market, where the banking and industrials sectors together accounted for about 71% of the total volume.
The Total Return Index rose 0.69% to 15,379.12 points, the All Share Index by 0.35% to 2,568.29 points and the Al Rayan Islamic Index (Price) by 0.41% to 2,214 points.
The insurance index soared 1.6%, followed by banks and financial services (1%), transport (0.31%) and industrials (0.29%); whereas consumer goods declined 1.73%, realty (0.79%) and telecom (0.1%).
More than 53% of the stocks extended gains with major movers being Gulf International Services, Qatar Insurance, QNB, Commercial Bank, Qatar First Bank, Alijarah Holding, Industries Qatar, Mazaya Qatar, Nakilat, Vodafone Qatar and Barwa.
Nevertheless, Woqod, Mesaieed Petrochemical Holding, Ooredoo, Milaha and Zad Holding were among the losers.
Non-Qatari institutions’ net buying increased significantly to QR12.37mn compared to QR1.72mn on April 1.
Gulf individuals turned net buyers to the tune of QR1.21mn against net sellers of QR1.54mn the previous day.
Domestic funds’ net profit-booking weakened substantially to QR22.11mn compared to QR39.89mn on Sunday.
Non-Qatari individuals’ net selling declined perceptibly to QR1.91mn against QR3.14mn on April 1.
However, local individuals’ net buying fell significantly to QR8.38mn compared to QR22.68mn the previous day.
Gulf institutions’ net buying declined influentially to QR2.03mn against QR4.48mn on Sunday.
Total trade volume grew 54% to 14.97mn shares and value by 19% to QR302.46mn; while transactions were down 1% to 3,645.
The banks and financial services sector’s trade volume almost quadrupled to 5.43mn equities and value also almost quadrupled to QR113.16mn on a 49% jump in deals to 937.
The transport sector reported a 86% surge in trade volume to 0.67mn stocks to almost triple value to QR23.1mn on a 7% rise in transactions to 189.
The real estate sector saw a 75% expansion in trade volume to 2.5mn shares, 85% in value to QR36.52mn and 18% in deals to 647.
The industrials sector’s trade volume shot up 13% to 5.17mn equities, whereas value declined 14% to QR94.55mn and transactions by 5% to 1,238.
However, the market witnessed a 65% plunge in the consumer goods sector’s trade volume to 0.21mn stocks, 70% in value to QR19.15mn and 51% in deals to 307.
The telecom sector’s trade volume plummeted 34% to 0.69mn shares, value by 39% to QR8.18mn and transactions by 23% to 203.
There was a 14% shrinkage in the insurance sector’s trade volume to 0.31mn equities but on a 10% increase in value to QR7.81mn despite 4% lower deals to 124.
In the debt market, there was no trading of treasury bills and sovereign bonds.
