The Qatar Stock Exchange on Wednesday settled 22 points higher mainly on the back of strong buying interests from the Gulf and domestic institutions amidst increased volumes brought about by the newly listed Baladna.
Telecom, transport, industrials and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index grew 0.22% to 10,339.36 points.
Non-Qatari funds turned marginally bullish on the market, which is up 0.39% year-to-date.
Market capitalisation saw more than QR3bn or 0.55% increase to QR572.52bn mainly owing to mid and small cap segments.
Islamic stocks were seen gaining higher than the other indices on the market, where the local retail investors were increasingly net profit takers.
Trade turnover and volumes were on the increase on the bourse, where consumer goods and banking sectors together accounted for about 78% of the total volume.
The Total Return Index rose 0.22% to 19,025.3 points, All Share Index by 0.21% to 3,051.28 points and Al Rayan Islamic Index (Price) by 0.3% to 2,325.82 points.
The telecom index expanded 0.96%, transport (0.67%), industrials (0.65%), consumer goods (0.38%) and banks and financial services (0.1%); while insurance and realty declined 1.27% and 0.24% respectively.
About 58% of the traded constituents gained with major movers being Ooredoo, Industries Qatar, Milaha, Gulf Warehousing, Al Khaliji, Mazaya Qatar, Commercial Bank, Islamic Holding Group, Salam International Investment, Medicare Group and Al Meera; even as Mesaieed Petrochemical Holding, Qatar General Insurance and Reinsurance, Barwa, Nakilat, Barwa and Masraf Al Rayan were among the losers.
Domestic institutions’ net buying increased considerably to QR27.53mn compared to QR10.78mn on Tuesday.
The Gulf institutions’ net buying also grew substantially to QR26.35mn against QR2.48mn on December 10.
Non-Qatari institutions were net buyers to the tune of QR8.9mn compared with net sellers of QR12.34mn the previous day.
Non-Qatari individuals were turned net buyers to the extent of QR3.21mn against net sellers of QR3.44mn on Tuesday.
The Gulf individuals were also net buyers to the tune of QR1.02mn compared with net sellers of QR0.47mn on December 10.
However, local retail investors’ net profit booking expanded significantly to QR67mn against QR1.37mn the previous day.
Total trade volume more than doubled to 111.98n shares and value rose 75% to QR221.27mn on more than doubled transactions to 10,585.
The consumer goods sector’s trade volume grew 19-fold to 70.46mn equities and value by nine-fold to QR84.17mn on 16-fold jump in deals to 5,988.
The transport sector’s trade volume rose six-fold to 5.6mn stocks and value by seven-fold to QR17.24mn on tripled transactions to 303.
There was 6% jump in the industrials sector’s trade volume to 10.01mn shares, 20% in value to QR24.83mn and 26% in deals to 1,025.
However, the insurance sector’s trade volume plummeted 34% to 1.4mn equities, value by 47% to QR3.54mn and transactions by 20% to 154.
The real estate sector reported 16% plunge in trade volume to 5.38mn stocks but on 23% increase in value to QR8.34mn and 1% in deals to 321.
The telecom sector’s trade volume tanked 14% to 2.66mn shares, whereas value jumped 82% to QR11.39mn and transactions by 50% to 378.
The banks and financial services sector saw 8% shrinkage in trade volume to 16.46mn equities and 3% in value to 71.75mn but on 15% expansion in deals to 2,416.
In the debt market, there was no trading of treasury bills and sovereign bonds.