Foreign funds’ increased buying interests on Wednesday helped Qatar Stock Exchange inch near 10,500 levels.
The insurance, real estate and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index witnessed a 91-point, or 0.88%, accretion to 10,466.49 points.
Gulf institutions were also seen influentially bullish in the market, whose key benchmark settled 1.63% higher year-to-date.
Market capitalisation saw more than QR5bn, or 0.91%, gains to QR577.9bn mainly owing to large and small cap segments.
Islamic equities were seen gaining slower than the other indices in the market, where domestic institutions were increasingly net sellers.
Trade turnover and volumes were on the increase in the bourse, where the banking, realty and industrials sectors together accounted for about 87% of the total volume.
The Total Return Index gained 0.88% to 19,259.22 points, the All Share Index by 1.01% to 3,078.25 points and the Al Rayan Islamic Index (Price) by 0.71% to 2,352.59 points.
The insurance index shot up 3.47%, real estate (2.24%), consumer goods (1.4%), telecom (0.85%), banks and financial services (0.87%), industrials (0.4%) and transport (0.35%).
More than 67% of the traded constituents extended gains with major movers being Qatar Insurance, Qatar Islamic Insurance, Ezdan, Mazaya Qatar, QIIB, Masraf Al Rayan, Qatar First Bank, Alijarah Holding, Zad Holding, Woqod, Qatar Industrial Manufacturing, Qatar Electricity and Water, Ooredoo and Gulf Warehousing; even as Commercial Bank, Islamic Holding Group, Medicare Group, Aamal Company and Vodafone Qatar were among the losers.
Non-Qatari funds’ net buying increased considerably to QR51.55mn compared to QR33.03mn on September 10.
Gulf institutions turned net buyers to the tune of QR2.7mn against net sellers of QR16.08mn the previous day.
Gulf retail investors’ net buying grew marginally to QR0.77mn compared to QR0.72mn on Tuesday.
Local retail investors’ net selling weakened noticeably to QR17.87mn against QR19.96mn on September 10.
However, domestic funds’ net profit booking rose significantly to QR31.08mn compared to QR1.13mn the previous day.
Non-Qatari individuals turned net sellers to the extent of QR6.07mn against net buyers of QR3.43mn on Tuesday.
Total trade volume rose 30% to 156.87mn shares and value by 3% to QR306.48mn, while transactions were down 4% to 7,539.
The real estate sector’s trade volume more than doubled to 53.09mn equities and value almost doubled to QR41.89mn on 52% increase in deals to 1,226.
The transport sector reported a 51% surge in trade volume to 9.02mn stocks, 62% in value to QR32.41mn and 51% in transactions to 499.
The consumer goods sector’s trade volume soared 30% to 3.17mn shares, value by 33% to QR26.07mn and deals by 47% at 744.
The banks and financial services sector saw an 11% jump in trade volume to 69.44mn equities but on a 15% fall in value to QR139.33mn despite 47% higher transactions to 2,343.
The insurance sector’s trade volume was up 7% to 2.34mn stocks, value by 31% to QR8.06mn and deals by 22% to 320.
However, there was a 21% plunge in the industrials sector’s trade volume to 13.59mn shares, 15% in value to QR34.04mn and 19% in transactions to 1,500.
The telecom sector’s trade volume tanked 14% to 6.21mn equities, value by 10% to QR24.68mn and deals by 51% to 907.
In the debt market, there was no trading of treasury bills and sovereign bonds.