The Qatar Stock Exchange on Monday gained more than 37 points to cross 10,300 levels, mainly on the back of increased buying interests from the Gulf institutions.
Insurance, banking, realty and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index closed 0.36% higher at 10,303.89 points, ending three days of bearish spell.
Domestic institutions were seen bullish in the market, whose key benchmark is up 0.05% year-to-date.
Market capitalisation saw about QR3bn or 0.47% increase to QR569.1bn mainly owing to small and microcap segments.
Islamic equities were seen gaining slower than the other indices in the market, where local retail investors were increasingly profit takers.
Trade turnover and volumes were on the increase in the bourse, where industrials and banking sectors together accounted for more than 70% of the total volume.
The Total Return Index gained 0.36% to 18,960.03 points, All Share Index by 0.48% to 3,040.43 points and Al Rayan Islamic Index (Price) by 0.14% to 2,303.31 points.
The insurance index soared 1.56%, banks and financial services (0.79%), real estate (0.61%), consumer goods (0.55%) and telecom (0.11%); while transport and industrials declined 0.98% and 0.23% respectively.
More than 61% of the traded constituents extended gains with major movers being QNB, Doha Bank, Ahlibank Qatar, Salam International Investment, Qatari Investors Group, Qatar Electricity and Water, Gulf International Services, United Development Company, Mazaya Qatar, Doha Insurance, Qatar General Insurance and Reinsurance and Al Khaleej Takaful Group.
Nevertheless, Qatar National Cement, Industries Qatar, Commercial Bank, Qatari German Company for Medical Devices, Medicare Group, Mesaieed Petrochemical Holding, Ezdan, Nakilat and Gulf Warehousing were among the losers.
The Gulf institutions’ net buying increased significantly to QR8mn compared to QR1.07mn on November 10.
Domestic funds turned net buyers to the tune of QR5.41mn against net sellers of QR4.4mn the previous day.
Non-Qatari individuals’ net buying expanded noticeably to QR0.97mn compared to QR0.03mn on Sunday.
The Gulf individuals were net buyers to the extent of QR0.38mn against net sellers of QR1.03mn on November 10.
However, local retail investors’ net profit booking grew substantially to QR21.43mn compared to QR3.45mn the previous day.
Non-Qatari institutions’ net buying declined perceptibly to QR6.68mn against QR7.77mn on Sunday.
Total trade volume rose 55% to 71.43mn shares, value by 88% to QR236.03mn and transactions by 85% to 6,353.
The transport sector’s trade volume more than tripled to 1.95mn equities and value also more than tripled to QR7.1mn on more than tripled deals to 264.
The real estate sector’s trade volume almost doubled to 13.54mn stocks and value more than doubled to QR12.59mn on more than doubled transactions to 474.
The telecom sector reported 62% surge in trade volume to 2.77mn shares and value more than doubled to QR10.05mn on almost doubled deals to 493.
The industrials’ sector’s trade volume soared 62% to 25.35mn equities to more than double value to QR35.37mn on almost doubled transactions to 1,717.
The insurance’s sector saw 40% expansion in trade volume to 0.98mn stocks and 84% in value to QR2.61mn on almost tripled deals to 176.
The banks and financial services sector’s trade volume shot up 38% to 25mn shares, value by 78% to QR159.68mn and transactions by 74% to 2,875.
However, there was 29% shrinkage in the consumer goods sector’s trade volume to 1.83mn equities but on 4% jump in value to QR8.61mn and 20% in deals to 354.
In the debt market, there was no trading of treasury bills and sovereign bonds.