An across-the-board buying – particularly within realty, telecom and industrials counters – Monday imparted a huge 222 points thrust to the Qatar Stock Exchange, whose key barometer surpassed 8,700 levels with an ease.
Foreign institutions were increasingly net buyers as the 20-stock Qatar Index settled 2.62% higher at 8,707.16 points amidst global reports of slowing down of corona fatalities in the key hotspots over the weekend.
The market touched a low of 8,496 points within the first 15 minutes of opening and thereafter it went on a gaining mode to reach a high of 8,724 points, a few seconds before the close.
Both Gulf and domestic funds were seen bullish on the bourse, whose year-to-date losses were trimmed to 16.48%.
Market capitalisation saw about QR11bn or 2.29% increase to QR489.6bn mainly owing to large and midcap segments.
Islamic stocks were seen gaining faster than the other indices on the market, where the local retail investors turned net profit takers.
Trade turnover and volumes were on the increase on the market, where industrials, real estate and banking sectors together accounted for more than 78% of the total trading volume.
The Total Return Index rose 2.62% to 18,651.19 points, All Share Index by 0.01% to 2,701.77 points and Al Rayan Islamic Index (Price) by 2.98% to 1,882.82 points.
The real estate soared 3.77%, telecom (3.32%), industrials (2.71%), banks and financial services (2.26%), transport (2.15%), insurance (2.06%) and consumer goods and services (1.44%).
More than 84% of the traded constituents extended gains with major movers being Barwa, United Development Company, Vodafone Qatar, Ooredoo, Qatari Investors Group, Industries Qatar, Mesaieed Petrochemical Holding, Gulf International Services, Qamco, Qatari Investors Group, Qatar Insurance, Milaha, Nakilat, Qatar Islamic Bank, Commercial Bank, QNB, QIIB, al khaliji, Qatar First Bank and Salam International Investment; whereas Aamal Company and Mannai Corporation were among the losers.
Non-Qatari institutions’ net buying increased substantially to QR15.35mn against QR6.64mn on April 5.
The Gulf funds turned net buyers to the tune of QR1.59mn compared with net sellers of QR5.07mn on Sunday.
Domestic funds were also net buyers to the extent of QR1.25mn against net sellers of QR5.09mn the previous day.
However, Qatari investors’ net selling grew significantly to QR15.76mn compared to QR1.78mn on April 5.
Non-Qatari individuals turned net sellers to the tune of QR2.37mn against net buyers of QR5.11mn the previous day.
The Gulf individuals were net profit takers to the tune of QR0.07mn compared with net buyers of QR0.2mn on Sunday.
Total trade volumes rose 26% to 140.99mn shares and value doubled to QR290mn on more than doubled transactions to 10,292.
The transport sector’s trade volume grew almost seven-fold to 9.31mn equities and value by almost six-fold to QR20.82mn on more than five-fold jump in deals to 674.
The banks and financial services sector’s trade volume more than tripled to 23.18 stocks and value expanded more than five-fold to QR101.01mn on more than five-fold growth in transactions to 3,738.
The insurance sector's trade volume more than tripled to 2.63mn shares and value almost tripled to QR4.48mn on more than tripled deals to 289.
The industrials sector reported 24% surge in trade volume to 52.65mn equities, 37% in value to QR65.98mn and 85% in transactions to 2,452.
The telecom sector's trade volume shot up 9% to 7.08mn stocks and value by 54% to QR18.26mn on more than doubled deals to 870.
There was 2% rise in the real estate sector's trade volume to 34.46mn shares, 19% in value to QR37.45mn and 51% in transactions to 1,357.
However, the consumer goods and services sector's trade volume tanked 41% to 11.67mn equities, while value was up 50% to QR42mn and deals by 46% to 912.