Foreign and Gulf institutions on Tuesday imparted strong bullish momentum to the Qatar Stock Exchange, whose key index gained 89 points to inch near 9,900 levels.
The telecom, industrials and banking counters witnessed higher than average demand, lifting the 20-stock Qatar Index 0.91% to 9,894.94 points.
Both local retail investors and domestic funds were however seen bearish in the market, whose key benchmark closed 3.92% lower year-to-date.
Market capitalisation expanded more than QR6bn, or 1.13%, to QR545.23bn mainly owing to large and small cap segments.
Islamic equities were seen gaining slower than the other indices in the market, where Gulf and non-Qatari individuals continued to be net buyers but with lesser intensity.
Trade turnover and volumes were on the increase in the bourse, where the realty, banking and industrials sectors together accounted for more than 83% of the total volume.
The Total Return Index gained 0.91% to 18,207.52 points, the All Share Index by 1.03% to 2,921.46 points and the Al Rayan Islamic Index (Price) by 0.4% to 2,249.56 points.
The telecom index soared 1.82%, industrials (1.35%), banks and financial services (1.2%), real estate (0.75%), transport (0.69%) and insurance (0.54%); while consumer goods declined 0.51%.
About 59% of the traded constituents extended gains with major movers being Vodafone Qatar, Industries Qatar, Gulf International Services, QNB, Qatar Insurance, Doha Bank, Commercial Bank, Alijarah Holding, Nakilat and Qatar General and Reinsurance; whereas Salam International Investment, Gulf Warehousing, Qatar First Bank and Dlala were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR12.63mn compared with net sellers of QR20.8mn on Monday.
Gulf funds were also net buyers to the extent of QR4.2mn against net profit takers of QR9.95mn the previous day.
However, local retail investors turned net sellers to the tune of QR13.23mn compared with net buyers of QR8.33mn on August 19.
Domestic institutions were also net sellers to the extent of QR4.34mn against net buyers of QR21.59mn on Monday.
Gulf individuals’ net buying weakened marginally to QR0.6mn compared to QR0.61mn the previous day.
Non-Qatari individuals’ net buying fell noticeably to QR0.14mn against QR0.23mn on August 19.
Total trade volume rose 45% to 64.7mn shares, value by 24% to QR176.44mn and transaction by 64% to 8,504.
The telecom sector’s trade volume more than quadrupled to 5.66mn equities and value more than doubled to QR12.36mn on a 72% growth in deals to 636.
The consumer goods’ trade volume more than doubled to 1.58mn stocks and value more than tripled to QR11.77mn on more-than-doubled transactions to 324.
The real estate sector reported a 58% surge in trade volume to 22.08mn shares, 16% in value to QR17.4mn and 20% in deals to 821.
The insurance sector’s trade volume soared 57% to 1.92mn equities, value by 51% to QR4.89mn and transactions by 18% to 393.
The industrials sector saw a 53% increase in trade volume to 12.49mn stocks and 47% in value to QR32.89mn on almost-tripled deals to 4,084.
The banks and financial services sector’s trade volume jumped 31% to 19.26mn shares, value by 13% to QR92.94mn and transactions by 5% to 2,068.
However, there was a 64% plunge in the transport sector’s trade volume to 1.71mn equities, 62% in value to QR4.19mn and 34% in deals to 178.
In the debt market, there was no trading of treasury bills and sovereign bonds.