The Qatar Stock Exchange on Thursday soared more than 86 points to cross the 10,350 levels, mainly triggered by telecom, banking and industrials sectors.
Local retail investors’ weakened net profit booking was rather instrumental in lifting the 20-stock Qatar Index 0.84% to 10,358.35 points.
The Gulf funds’ weakened net selling also helped the market, which is down 0.58% year-to-date.
Market capitalisation saw about QR5bn or 0.84% increase to QR573.35bn mainly owing to mid and small cap segments.
Islamic stocks were seen gaining slower than the other indices on the market, where the Gulf individuals were seen bearish and there was increased net selling by non-Qatari individuals.
Trade turnover and volumes were on the decline on the bourse, where industrials, banking and realty sectors together accounted for about 82% of the total volume.
The Total Return Index rose 0.84% to 19,060.25 points, All Share Index by 0.79% to 3,060.84 points and Al Rayan Islamic Index (Price) by 0.58% to 2,324.59 points.
The telecom index expanded 2.14%, banks and financial services (1.04%), industrials (0.9%), realty (0.54%) and insurance (0.24%); while transport and consumer goods declined 0.79% and 0.2% respectively.
About 60% of the traded constituents gained with major movers being Ooredoo, Qatar Islamic Bank, Industries Qatar, Qatari Investors Group, Mazaya Qatar, Doha Insurance, QNB, Salam International Investment, Qatari German Company for Medical Devices and Mannai Corporation; even as Dlala, Qatar Oman Investment, Gulf International Services, Milaha and Gulf Warehousing were among the losers.
Local retail investors’ net selling declined significantly to QR34.12mn compared to QR73.42mn the previous day.
The Gulf institutions’ net buying also shrank substantially to QR2.48mn against QR9.57mn on December 4.
However, non-Qatari individuals’ net selling increased noticeably to QR5.79mn compared to QR4.01mn on Wednesday.
The Gulf individuals turned net sellers to the tune of QR1.14mn against net buyers of QR1.28mn the previous day.
Non-Qatari institutions’ net buying declined considerably to QR34.19mn compared to QR59.88mn on December 4.
Domestic institutions’ net buying weakened perceptibly to QR11.83mn against QR23.53mn on Wednesday.
Total trade volume fell 17% to 84.31n shares, value by 37% to QR237.46mn and transactions by 8% to 7,468.
There was 65% plunge in the consumer goods sector’s trade volume to 3.12mn equities, 54% in value to QR7.9mn and 63% in deals to 301.
The transport sector’s trade volume plummeted 50% to 3.28mn stocks, value by 51% to QR10.43mn and 56% in transactions to 360.
The banks and financial services sector saw 28% shrinkage in trade volume to 24.64mn shares and 53% in value to 113.66mn but on 4% jump in deals to 3,194.
The real estate sector’s trade volume tanked 15% to 15.22mn equities, value by 20% to QR14.26mn and transactions by 26% to 523.
There was 2% fall in the industrials sector’s trade volume to 29.1mn stocks but on 11% growth in value to QR55.8mn and less than 1% in deals to 1,910.
However, the insurance sector’s trade volume more than doubled to 4.6mn shares and value more than doubled to QR11.5mn on 64% jump in transactions to 265.
The telecom sector reported 37% surge in trade volume to 4.34mn equities, 35% in value to QR21.9mn and 46% in deals to 915.
In the debt market, there was no trading of treasury bills and sovereign bonds.
