The Qatar Stock Exchange ON Thursday witnessed multi-fold jump in volumes and turnover and its key index added 209 points to inch near the 10,000 level mainly on the back of strong buying interests from foreign funds.
Heavy demand for blue-chip equities led the 20-stock Qatar Index to surge 2.14% to hit a seven-month high of 9,970.55 points.
However, domestic funds turned bearish and there was increased net selling pressure from local retail investors in the market, whose sensitive index is down 3.19% year-to-date.
Market capitalisation shot up about QR9bn, or 1.58%, to QR561.07bn mainly owing to large and midcap segments.
Islamic equities were seen gaining slower than the main index in the market, where Gulf institutions were also increasingly net sellers.
Trade turnover and volumes were on the increase in the bourse, where industrials sector alone accounted for about 48% of the total volume.
The Total Return Index soared 2.14% to 18,107.18 points, the Al Rayan Islamic Index (Price) by 1.98% to 2,344.01 points and the All Share Index by 1.42% to 3,015.97 points.
The industrials index expanded 2.53%, telecom (2.47%), banks and financial services (1.73%), insurance (1.58%) and consumer goods (1.35%); whereas transport and real estate declined 0.82% and 0.62% respectively.
More than 52% of the stocks extended gains with major movers being Industries Qatar, Commercial Bank, Qatar Islamic Bank, Masraf Al Rayan, Mesaieed Petrochemical Holding, Qatari Investors Group, Qatar Insurance, Barwa, Ooredoo and Milaha; even as Islamic Holding Group, Qatar First Bank, Salam International Investment, Ezdan, Nakilat and Gulf Warehousing were among the losers.
Non-Qatari institutions’ net buying strengthened significantly QR456.01mn compared to QR12.12mn on March 13.
However, domestic funds turned net sellers to the tune of QR264.14mn against net buyers of QR30.63mn on Wednesday.
Local retail investors’ net profit booking grew considerably to QR148.99mn compared to QR19.59mn the previous day.
Gulf institutional investors’ net selling increased noticeably to QR20.94mn against QR13.88mn on March 13.
Non-Qatari individuals’ net profit booking also grew influentially to QR19.65mn compared to QR11.29mn on Wednesday.
Gulf individuals turned net sellers to the extent of QR2.29mn against net buyers of QR2.04mn the previous day.
Total trade volume grew about five-fold to 39.36mn shares and value by more than five-fold to QR1.43bn on almost-doubled transactions to 9,981.
The insurance sector’s trade volume rose more than 12-fold to 5.48mn equities and value also by more than 12-fold to QR188.26mn on 86% increase in deals to 700.
The transport sector’s trade volume increased 10-fold to 1.4mn stocks and value by more than 12-fold to QR47.11mn on more-than-quadrupled transactions to 647.
The consumer goods sector’s trade volume shot up more than six-fold to 3.12mn shares and value by about 10-fold to QR412.42mn on more-than-doubled deals to 1,206.
The industrials sector’s trade volume jumped about six-fold to 18.88mn equities and value more than quadrupled to QR400.33mn on almost-doubled transactions to 3,317.
The banks and financial services sector’s trade volume more than tripled to 4.04mn stocks and value more than quadrupled to QR251.89mn on a 51% surge in deals to 1,486.
The real estate sector’s trade volume almost tripled to 5.85mn shares and value more than tripled to QR111.14mn on an 88% expansion in transactions to 2,077.
However, there was a 2% fall in the telecom sector’s trade volume to 0.59mn equities and 10% in value to QR22.83mn but on a 61% increase in deals to 548.
In the debt market, there was no trading of treasury bills and sovereign bonds.
