The cabinet rejig has substantially lifted the sentiments in the Qatar Stock Exchange which gained more than 127 points to cross the 10,450 levels with an ease. An across the board buying – particularly realty, banking, consumer goods and telecom – led the 20-stock Qatar Index surge 1.23% to touch about 2-month high of 10,458.28 points, which is up 22.7% year-to-date.
Market capitalisation expanded about QR9bn or 1.47% to QR589.04bn, mainly on account of small and large cap equities.
Foreign institutions’ increasingly buying interests created an overall bullish momentum in the market, where Islamic stocks were seen gaining slower than the other indices.
Trade turnover and volumes were on the increase in the bourse, where banking and real estate sectors together accounted for more than 62% of the total volume.
The Total Return Index gained 1.23% to 18,426.34 points, All Share Index by 1.42% to 3,086.65 points and Al Rayan Islamic Index (Price) by 0.98% to 2,431.16 points.
The realty index soared 2.4%, banks and financial services (1.76%), consumer goods (1.75%), telecom (1.47%), transport (1.08%), industrials (0.28%) and insurance (0.12%).
About 66% of the traded stocks extended gains with major movers being Ooredoo, QNB, Qatar Islamic Bank, United Development Company, Ahlibank, Alijarah Holding, Dlala, Ezdan, Gulf International Services, Barwa and Milaha; even as Qatari German Company for Medical Devices, Vodafone Qatar, Al Khaliji and Qatar First Bank were among the losers.
Non-Qatari funds’ net buying increased significantly to QR127.53mn compared to QR28.96mn on November 4.
However, local individuals’ net profit booking grew considerably to QR71.93mn against QR33.7mn on Sunday.
Domestic funds’ net selling strengthened substantially to QR40.06mn compared to QR6.24mn the previous day.
Non-Qatari individuals turned net sellers to the tune of QR9.6mn against net buyers of QR5.64mn on November 4.
The Gulf institutions were also net sellers to the extent of QR5.15mn compared with net buyers of QR5.2mn on Sunday.
The Gulf individuals tuned net profit takers to the tune of QR0.79mn against net buyers of QR0.15mn the previous day.
Total trade volume more than doubled to 8.38mn shares and value also more than doubled to QR329.96mn on more than doubled transactions to 5,205.
The insurance sector’s trade volume more than tripled to 0.18mn equities and value more than quadrupled to QR6.5mn on almost tripled deals to 130.
The real estate sector’s trade volume more than tripled to 2.39mn stocks and value also more than tripled to QR48.17mn on more than tripled transactions to 918.
The banks and financial services sector’s trade volume more than doubled to 2.81mn shares and value more than tripled to QR149.19mn on more than doubled deals to 1,992.
The industrials sector’s trade volume more than doubled to 1.21mn equities and value also more than doubled to QR60.55mn on 80% increase in transactions to 882.
The telecom sector’s trade volume more than doubled to 1.12mn stocks and value more than tripled to QR33.44mn on more than doubled deals to 687.
The transport sector reported 38% surge in trade volume to 0.44mn shares but on 14% decline in value to QR8.36mn and 9% in transactions to 248.
However, there was 48% plunge in the consumer goods sector’s trade volume to 0.23mn equities and 36% in value to QR23.75mn but on 89% jump in deals to 348.
In the debt market, there was no trading of treasury bills and sovereign bonds.
