An ease in foreign entry appears to have instilled confidence, especially among overseas funds, as the Qatar Stock Exchange on Monday shot up more than 132 points to cross the 9,100 levels. Large underlying stocks were also seen lifting the capitalisation above QR505bn.
An across-the-board buying — notably in the telecom, real estate and banking sectors — was seen imparting a 1.47% thrust to the 20-stock Qatar Index to reach 9,125.24 points.
Doha Bank-sponsored exchange traded fund QETF soared 7.05%, while Masraf Al Rayan-sponsored QATR reported a marginal 0.09% decline.
The Gulf individual investors were also seen marginally bullish on the market, which is up 7.06% year-to-date.
Large cap stocks witnessed stronger gains, leading to a 1.7% expansion in market capitalisation to QR505.89bn.
Trade turnover and volumes were on the increase on the market, where banking, industrials and telecom sectors together accounted for about 79% of the total volume.
The Total Return Index gained 1.47% to 16,077.65 points, All Share Index by 1.52% to 2,670.62 points and Al Rayan Islamic Index (Price) by 0.75% to 2,212.65 points.
The telecom index surged 2.46%, realty (1.73%), banks and financial services (1.7%), industrials (1.37%), transport (1.21%), insurance (0.78%) and consumer goods (0.24%).
More than 68% of the stocks extended gains with major movers being Ooredoo, Ezdan, Mazaya Qatar, Industries Qatar, QNB, Qatar Islamic Bank, Qatar Insurance, Nakilat, Gulf Warehousing, Doha Bank, Qatari German Company for Medical Devices and Medicare Group; whereas Vodafone Qatar, Islamic Holding Group, Mesaieed Petrochemical Holding and Qatar Islamic Insurance were among the losers.
Non-Qatari institutions’ net buying grew substantially to QR219.26mn compared to QR30.02mn on May 27.
The Gulf individuals turned net buyers to the tune of QR2mn against net sellers of QR9.97mn the previous day.
Non-Qatari individual investors’ net selling declined marginally to QR2.9mn compared to QR3.76mn on Sunday.
However, local individual investors’ net selling increased significantly to QR129.63mn against QR0.33mn on May 27.
The Gulf funds’ net selling strengthened substantially to QR60.59mn compared to QR5.99mn the previous day.
Domestic institutions’ net profit booking expanded considerably to QR28.13mn against QR10mn on Sunday.
Total trade volume grew 66% to 12mn shares to more than double value to QR645.26mn on 85% jump in transactions to 6,763.
The telecom sector’s trade volume more than doubled to 2.32mn equities and value almost tripled to QR30.26mn on 52% increase deals to 425.
The transport sector’s trade volume more than doubled to 1.62mn stocks and value also more than doubled to QR28.31mn on more than five-fold growth in transactions to 1,516.
The banks and financial services sector’s trade volume more than doubled to 4.53mn shares and value more than tripled to QR454.57mn on 56% increase in deals to 2,707.
The consumer goods sector reported 61% surge in trade volume to 0.29mn equities but on 21% decline in value to QR11.92mn and 6% in transactions to 261.
The insurance sector’s trade volume expanded 8% to 0.13mn stocks, value by 14% to QR4.47mn and deals by 37% to 112.
The market witnessed 3% rise in the industrials sector’s trade volume to 2.62mn shares, 57% in value to QR108.71mn and 88% in transactions to 1,533.
Although the real estate sector’s trade volume was flat at 0.49mn equities, there was 7% rise in value to QR7.03mn and 8% in deals to 209.
In the debt market, there was no trading of treasury bills and sovereign bonds.