Huge gains in the global energy market appear to have lifted sentiments in the Qatar Stock Exchange, which shot up 117 points to surpass 10,500 levels with an ease. Foreign institutions were seen pumping huge funds, leading to 1.12% surge in the 20-stock Qatar Index to 10,511.58 points amid strengthened trading volumes.
However, local retail investors turned bearish and there was increased net selling pressure from domestic funds in the market, whose key benchmark settled 2.06% higher year-to-date.
Market capitalisation saw about QR7bn or 1.17% accretion to QR581.61bn mainly owing to large and midcap segments.
Islamic equities were seen gaining slower than the other indices in the market, where non-Qatari and Gulf individuals as well as Gulf institutions turn net profit takers.
Trade turnover and volumes were on the increase in the bourse, where banking, industrials and realty sectors together accounted for more than 83% of the total volume.
The Total Return Index gained 1.12% to 19,342.2 points, Al Rayan Islamic Index (Price) by 0.91% to 2,363.2 points and All Share Index by 1.05% to 3,096.7 points.
The insurance index shot up 2.71%, industrials (1.83%), real estate (1.13%), consumer goods (1.04%), banks and financial services (0.83%), telecom (0.2%) and transport (0.05%).
About 48% of the traded constituents extended gains with major movers being Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Electricity and Water, Qatar Insurance, Ezdan, Barwa, QNB, Dlala, Woqod and Zad Holding; even as Qatar Industrial Manufacturing, Qatar First Bank, Doha Insurance, Doha Bank, Alijarah Holding and Vodafone Qatar were among the losers.
Non-Qatari funds turned net buyers to the tune of QR136.87mn compared with net sellers of QR6.36mn on September 15.
However, local retail investors were net sellers to the extent of QR55.54mn against net buyers of QR4.79mn on Sunday.
Domestic funds’ net profit booking increased significantly to QR77.85mn compared to QR4.47mn the previous day.
Non-Qatari individuals turned net sellers to the tune of QR2.26mn against net buyers of QR2.85mn on September 15.
The Gulf individuals were also net sellers to the extent of QR0.94mn compared with net buyers of QR0.53mn on Sunday.
The Gulf institutions turned net profit takers to the extent of QR0.27mn against net buyers of QR2.65mn the previous day.
Total trade volume rose 26% to 95.37mn shares and value more than doubled to QR337.03mn on more than tripled transactions to 9,092.
The insurance sector’s trade volume grew almost eight-fold to 3.9mn equities and value by more than 10-fold to QR11.75mn on almost nine-fold increase in deals to 600.
The industrials sector’s trade volume more than doubled to 27.57mn stocks and value almost tripled to QR100.75mn on almost tripled transactions to 2,554.
The market witnessed 31% surge in the consumer goods sector’s trade volume to 2.4mn shares and 17% in value to QR20.98mn on almost tripled deals to 501.
The banks and financial services sector’s trade volume soared 25% to 31.45mn equities and value almost tripled to QR142.84mn on almost tripled transactions to 2,695.
There was 8% jump in the transport sector’s trade volume to 6.81mn stocks and 22% in value to QR18.95mn on more than doubled deals to 298.
However, the real estate sector’s trade volume plummeted 19% to 20.3mn shares and value by 18% to QR24.18mn, whereas transactions more than doubled to 1,449.
The telecom sector reported 10% shrinkage in trade volume to 2.94mn equities but on more than doubled value to QR17.58mn and almost quadrupled deals to 995.
In the debt market, there was no trading of treasury bills and sovereign bonds.