Foreign institutions’ stronger buying interests on Thursday lifted the Qatar Stock Exchange more than 70 points to surpass 10,350 levels and capitalisation add in excess of QR4bn.
Insurance, real estate, telecom and transport counters witnessed higher than average buying, which resulted in a 0.68% push to the 20-stock Qatar Index and settle at 10,350.35 points.
The Gulf institutions were also bullish in the market, which closed 0.5% higher year-to-date.
Market capitalisation grew 0.7% to QR591.16bn mainly owing to large and midcap segments.
Islamic equities were seen gaining slower than the other indices on the market, where local retail investors and domestic funds turned profit takers.
Trade turnover grew amidst lower volumes in the bourse, where industrials, banking and realty sectors together accounted for about 86% of the total volume.
The Total Return Index rose 0.68% to 18,236.16 points, All Share Index by 0.9% to 3,097.28 points and Al Rayan Islamic Index (Price) by 0.51% to 2,413.98 points.
The insurance index soared 2.58%, real estate (1.81%), telecom (1.63%), transport (1.14%), industrials (0.83%) and banks and financial services (0.49%); whereas consumer goods sector was down 0.01%.
About 73% of the stocks extended gains with major movers being Ezdan, Ooredoo, Milaha, Industries Qatar, Aamal Company, Qatari Investors Group, Qatar Electricity and Water, Commercial Bank, Doha Bank, Al Khaliji and Vodafone Qatar; even as Mesaieed Petrochemical Holding, Qatari German Company for Medical Devices, Woqod, Widam Food and Qatar Industrial Manufacturing were among the losers.
Non-Qatari funds turned net buyers to the tune of QR58.59mn against net sellers of QR7.5mn on January 2.
The Gulf institutions were also net buyers to the extent of QR3.28mn compared with net sellers of QR2.93mn on Wednesday.
However, local individuals turned net sellers to the tune of QR32.23mn against net buyers of QR0.84mn the previous day.
Domestic funds were also net sellers to the extent of QR28.09mn compared with net buyers of QR4.79mn on January 2.
The Gulf individuals turned net profit takers to the tune of QR1.51mn against net buyers of QR1.78mn on Wednesday.
Non-Qatari individuals were net sellers to the extent of QR0.06mn compared with net buyers of QR3.03mn the previous day.
Total trade volume fell 5% to 7.56mn shares, while value grew 25% to QR198.68mn and transactions by 21% to 6,789.
The transport sector’s trade volume plummeted 52% to 0.13mn equities, value by 48% to QR2.93mn and deals by 20% to 171.
The real estate sector reported 39% plunge in trade volume to 1.27mn stocks, 36% in value to QR21.27mn and 11% in transactions to 700.
The consumer goods sector’s trade volume tanked 17% to 0.15mn shares, while value gained 39% to QR6.19mn and deals by 45% to 227.
There was 4% decline in the industrials sector’s trade volume to 3.79mn equities but on 16% growth in value to QR66.94mn and 8% in transactions to 3,578.
However, the insurance sector’s trade volume grew 15-fold to 0.15mn stocks, value soared 56% to QR5.2mn and deals by 48% to 135.
The telecom sector saw 70% increase in trade volume to 0.63mn shares but on 15% shrinkage in value to QR12.39mn despite 61% higher transactions at 427.
The banks and financial services sector’s trade volume shot up 40% to 1.44mn equities to see more than double value to QR83.76mn on almost doubled deals to 1,551.
In the debt market, there was no trading of treasury bills and sovereign bonds.