Domestic institutions’ increased buying interests on Thursday drove the Qatar Stock Exchange above 10,000 levels intraday and overall it settled 56 points higher.
The transport, telecom and banking counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.56% higher at 9,934.34 points, although it touched a high of 10,010 points within the first 90 minutes of opening.
Local retail investors’ weakened net selling also helped the market, which is, however, down 4.71% year-to-date.
Market capitalisation saw about QR2bn, or 0.35%, rise to QR549.48bn mainly owing to microcap segments.
Islamic stocks were seen gaining slower than the other indices in the bourse, where the Gulf institutions were increasingly net profit takers.
Trade turnover grew amidst lower volumes in the bourse, where the banking, real estate and industrials sectors together accounted for more than 77% of the total volume.
The Total Return Index rose 0.56% to 18,367.91 points, the All Share Index by 0.45% to 2,975.43 points and the Al Rayan Islamic Index (Price) by 0.14% to 2,158.95 points.
The transport index grew 1.08%, telecom (1.07%), banks and financial services (0.7%), consumer goods (0.3%) and realty (0.19%); while insurance and industrials declined 0.37% and 0.33% respectively.
More than 53% of the traded constituents extended gains with major movers being Milaha, Nakilat, Ooredoo, Doha Bank, Commercial Bank, Mesaieed Petrochemical Holding, QIIB, al khaliji and Mazaya Qatar; whereas Qatar First Bank, Qatar German Company for Medical Devices, Widam Food, Industries Qatar, Aamal Company and Qatari Investors Group were among the losers.
Domestic funds’ net buying increased substantially to QR36.65mn compared to QR14.96mn on February 19.
Qatari investors’ net selling declined significantly to QR28.97mn against QR48.57mn the previous day.
However, the Gulf institutions’ net profit booking grew considerably to QR40.67mn compared to QR26.75mn on Wednesday.
The Gulf individual investors’ net selling also grew noticeably to QR2.87mn against QR0.2mn on February 19.
Non-Qatari institutions’ net buying weakened substantially to QR35.43mn compared to QR57.27mn the previous day.
Non-Qatari individuals’ net buying eased perceptibly to QR0.35mn against QR3.23mn on Wednesday.
Total trade volumes fell 1% to 114.26mn shares, while value grew 5% to QR349.42mn despite 16% lower transactions at 7,121.
The consumer goods sector’s trade volume almost tripled to 17.96mn equities and value more than tripled to QR36.37mn on a 75% increase in deals to 801.
The telecom sector reported a 34% surge in trade volume to 3.34mn stocks and 13% in value to QR16.96mn but on a 7% dip in transactions to 741.
The transport sector’s trade volume expanded 7% to 2.84mn shares, while value declined 10% to QR8.08mn despite 36% higher deals at 290.
There was a 5% jump in the industrials sector’s trade volume to 23.63mn equities, 3% in value to QR53.26mn and 11% in transactions to 1,444.
However, the real estate sector’s trade volume plummeted 24% to 27.64mn stocks, value by 22% to QR31.87mn and deals by 28% to 1,335.
The banks and financial services sector saw a 12% plunge in trade volume to 37.03mn shares, 2% in value to QR197.69mn and 36% in transactions to 2,344.
The insurance sector’s trade volume was down 7% to 1.82mn equities, while value shot up 48% to QR5.18mn and deals by 2% to 166.
In the debt market, there was no trading of sovereign bonds and treasury bills.