The expansionary 2020 budget appears to have influenced the sentiments in the Qatar Stock Exchange and its key index gained more than 118 points to inch near 10,350 levels and capitalisation added about QR10bn.
Banking and industrials counters witnessed robust demand, leading to a 1.16% surge in the 20-stock Qatar Index to 10,340.37 points.
Foreign institutions turned extremely bullish in the market, which reported 0.4% gains year-to-date.
Qatar on Monday presented an expansionary 2020 general budget with a five-year high expenditure; giving more impetus to infrastructure projects, implying more role for the private sector.
Market capitalisation saw 1.74% increase to QR575.83bn mainly owing to large and midcap segments.
Islamic stocks were seen gaining slower than the other indices in the market, where domestic funds and non-Qatari individuals turned bearish and there was increased net selling pressure from local retail investors.
Trade turnover and volumes were on the increase in the bourse, where banking and industrials sectors together accounted for more than three-fourth of the total volume.
The Total Return Index gained 1.16% to 19,027.15 points, All Share Index by 1.51% to 3,065.44 points and Al Rayan Islamic Index (Price) by 0.69% to 2,316.15 points.
The banks and financial services index shot up 2.09%, industrials (1.33%), insurance (1.15%), telecom (0.56%), real estate (0.32%) and consumer goods (0.29%); while transport was down 0.09%.
More than 52% of the stocks extended gains with major movers being QNB, Commercial Bank, QIIB, Qatar National Cement, Qatari Investors Group, Aamal Company, Mesaieed Petrochemical Holding, Qatar Insurance, Ooredoo and Milaha; even as Doha Bank, Qatar Islamic Bank, Gulf International Services, Qatari General Insurance and Reinsurance, Mazaya Qatar, Vodafone Qatar and Nakilat were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR139.18mn against net sellers of QR8.7mn the previous day.
However, domestic funds were net sellers to the extent of QR66.19mn compared with net buyers of QR16.38mn on Monday.
Local retail investors’ net profit booking grew significantly to QR49.72mn against QR8.09mn on December 16.
Non-Qatari individuals turned net sellers to the tune of QR13.92mn compared with net buyers of QR1.57mn the previous day.
The Gulf institutions’ net profit booking increased noticeably to QR8.57mn against QR0.78mn on Monday.
The Gulf individuals’ net selling expanded marginally to QR0.83mn compared to QR0.39mn on December 16.
Total trade volumes almost doubled to 118.02mn shares and value more than doubled to QR519.51mn but on 3% fall in transactions to 7,662.
The banks and financial services sector’s trade volume almost tripled to 60.87mn equities and value more than tripled to QR360.62mn but on 9% lower deals to 3,493.
The telecom sector’s trade volume almost tripled to 6.5mn stocks and value more than doubled to QR24.03mn but on 7% fall in transactions to 560.
The insurance sector’s trade volume more than doubled to 2.58mn shares and value also more than doubled to QR7.32mn on 11% jump in deals to 205.
There was 52% surge in the industrials sector’s trade volume to 27.72mn equities to more than double value to QR77.19mn on 4% increase in transactions to 1,695.
The transport sector’s trade volume soared 28% to 3.7mn stocks, whereas value shrank 6% to QR9.91mn and deals by 17% to 274.
The consumer goods sector saw 23% expansion in trade volume to 8.34mn shares, 60% in value to QR24.67mn and 68% in transactions to 985.
However, the real estate sector’s trade volume was down 7% to 8.31mn equities, while value shot up 34% to QR15.77mn and deals by 29% to 450.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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