Strong buying – especially in the real estate, insurance and industrials sectors – helped the Qatar Stock Exchange surpass 10,300 levels with an ease.
The Gulf and foreign institutions were increasingly net buyers as the 20-stock Qatar Index gained 0.48% to 10,308.17 points.
The Gulf individuals’ weakened net selling also helped the market, whose sensitive index is up 0.09% year-to-date.
Market capitalisation expanded about QR4bn or 0.64% to QR577.39bn mainly owing to large and small cap segments.
Islamic equities were however seen gaining slower than the other indices in the market, where local retail investors were increasingly net profit takers.
Trade turnover grew amidst lower volumes in the bourse, where industrials and banking sectors together accounted for about 70% of the total volume.
The Total Return Index grew 0.48% to 18,967.9 points, the All Share Index by 0.56% to 3,144.22 points and the Al Rayan Islamic Index (Price) by 0.26% to 2,405.81 points.
The realty index soared 1.62%, insurance (1.32%), industrials (1.17%), telecom (0.62%), transport (0.41%) and banks and financial services (0.04%); while consumer goods was down 0.02%.
More than 52% of the traded constituents extended gains with major movers being Ezdan, Qatar Insurance, Milaha, Industries Qatar, Mesaieed Petrochemical Holding, Qatar Electricity and Water, QIIB, Qatar Oman Investment, Widam Food, Commercial Bank and Vodafone Qatar; even as Qatar Islamic Bank, Mazaya Qatar, Ahlibank Qatar, Dlala, Qatari German Company for Medical Devices and Al Khaleej Takaful were among the losers.
The Gulf institutions’ net buying increased influentially to QR43mn compared to QR14.06mn on Tuesday.
Non-Qatari institutions’ net buying strengthened perceptibly to QR19.1mn against QR14.3mn on April 16.
The Gulf individual investors’ net selling declined noticeably to QR0.99mn compared to QR1.31mn the previous day.
However, local retail investors’ net selling shot up significantly to QR49.55mn against QR30.4mn on Tuesday.
Domestic institutions’ net profit booking grew considerably to QR8.43mn compared to QR1.07mn on April 16.
Non-Qatari individuals turned net sellers to the tune of QR3.11mn against net buyers of QR4.42mn the previous day.
Total trade volume fell 3% to 17.98mn shares, while value grew 11% to QR290.77mn despite 1% lower transactions at 6,745.
The insurance sector’s trade volume plummeted 53% to 0.46mn equities, value by 51% to QR10.7mn and deals by 22% to 350.
The consumer goods sector reported 47% plunge in trade volume to 0.55mn stocks but on 26% growth in value to QR15.18mn despite 18% lower transactions at 375.
The transport sector’s trade volume tanked 46% to 0.29mn shares, value by 50% to QR8.08mn and deals by 29% to 246.
The banks and financial services sector saw 29% shrinkage in trade volume to 4.28mn equities, 9% in value to QR90.97mn and 18% in transactions to 1,369.
However, the telecom sector’s trade volume more than doubled to 1.94mn stocks and value also more than doubled to QR17.12mn on more than doubled deals to 420.
There was 15% surge in the industrials sector’s trade volume to 8.23mn shares, 57% in value to QR123.16mn and 14% in transactions to 3,073.
The realty sector’s trade volume expanded 12% to 2.23mn equities and value by 2% to QR25.57mn, whereas deals shrank 14% to 912.
In the debt market, there was no trading of treasury bills and sovereign bonds.
