The Qatar Stock Exchange on Thursday gained 114 points to inch near the 10,200 level, mainly on strong buying support from domestic institutions in view of attractive valuations.
Robust demand, especially for the industrials, banking and consumer goods equities, led the 20-stock Qatar Index to settle 1.13% higher at 10,191.5 points.
Foreign institutions continued to be buyers but with lesser intensity in the market, whose sensitive index registered 1.04% declines year-to-date.
Market capitalisation expanded 1.27%, or more than QR7bn, to QR578.4bn mainly owing to large and midcap segments.
Islamic equities were seen gaining slower than the main index in the market, where Gulf institutions turned bearish.
Trade turnover and volumes were on the increase in the bourse, where the industrials, realty and banking sectors together accounted for more than 86% of the total volume.
The Total Return Index gained 1.5% to 18,109.02 points, the All Share Index by 1.31% to 3,976.52 points and the Al Rayan Islamic Index (Price) by 1.08% to 2,432.92 points.
The industrials index soared 2%, followed by banks and financial services (1.68%), consumer goods (1.24%), real estate (0.73%) and transport (0.29%); while insurance and telecom declined 0.83% and 0.03% respectively.
About 67% of the traded stocks extended gains with major movers being Mesaieed Petrochemical Holding, Industries Qatar, QNB, Doha Bank, Islamic Holding Group, Qatari German Company for Medical Devices, Salam International Investment, Medicare Group, United Development Company, Barwa and Vodafone Qatar.
Nevertheless, Qatar Islamic Bank, Alijarah Holding, Dlala, Qatari Investors Group, Qatar Industrial Manufacturing, Ooredoo and Gulf Warehousing were among the losers.
Domestic institutions’ net buying increased substantially to QR54.18mn against QR11.53mn on Wednesday.
Local individuals’ net selling declined significantly to QR91.32mn compared to QR141mn the previous day.
However, non-Qatari individuals’ net profit booking grew considerably to QR27.54mn against QR2.38mn on February 20.
Gulf funds turned net sellers to the tune of QR11.03mn compared with net buyers of QR41.11mn on Wednesday.
Gulf individuals’ net profit booking strengthened noticeably to QR2.38mn against QR1.04mn the previous day.
Non-Qatari institutions’ net buying shrank influentially to QR78.04mn compared to QR91.7mn on February 20.
Total trade volume grew 63% to 14.45mn shares, value by 13% to QR432.38mn and transactions by 16% to 7,484.
The telecom sector’s trade volume almost tripled to 0.86mn equities and value rose 7% to QR12.13mn, while deals were down 10% to 497.
The industrials sector’s trade volume more than doubled to 6.97mn stocks and value also more than doubled to QR136.54mn on a 43% increase in transactions to 2,890.
The real estate sector reported a 42% surge in trade volume to 2.92mn shares, 17% in value to QR41.45mn and 13% in deals to 1,443.
The consumer goods sector’s trade volume grew 23% to 0.64mn equities on more-than-doubled value to QR100.81mn on a 38% growth in transactions at to 686.
However, the transport sector saw a 45% plunge in trade volume to 0.17mn stocks, 53% in value to QR3.74mn and 35% in deals to 128.
The insurance sector’s trade volume plummeted 23% to 0.34mn shares and value by 19% to QR11.69mn, whereas transactions expanded 48% to 536.
The banks and financial services sector reported a 1% dip in trade volume to 2.56mn equities, 37% in value to QR126.02mn and 15% in deals to 1,304.
In the debt market, there was no trading of treasury bills and sovereign bonds.
