The Qatar Stock Exchange on Wednesday gained 51 points to surpass 9,000 levels, mainly lifted by insurance, industrials and banking equities.
Domestic funds were seen bullish, albeit at lower levels, as the 20-stock Qatar Index settled 0.57% higher at 9,030.45 points, having touched a low of 8,916 points within 90 minutes of the opening.
The Gulf individuals were also seen marginally bullish in the bourse, whose year-to-date losses were trimmed to 13.38%.
Market capitalisation saw more than QR3bn or 0.69% increase to QR510.45bn mainly owing to small and microcap segments.
Islamic stocks were seen gaining faster than the other indices in the market, where the local retail investors were increasingly net profit takers.
Trade turnover fell amidst higher volumes in the market, where industrials sector alone accounted for more than 50% of the total trading volume.
The Total Return Index rose 0.57% to 17,269.44 points, All Share Index by 0.67% to 2,810.65 points and Al Rayan Islamic Index (Price) by 0.68% to 1,944.75 points.
The insurance index soared 4.29%, industrials (1.07%), banks and financial services (0.62%) and consumer goods and services (0.36%); while real estate, telecom and transport declined 0.76%, 0.46% and 0.37% respectively.
More than 53% of the traded constituents extended gains with major movers being Qatar Insurance, Qatar Oman Investment, Dlala, QNB, Qatar German Company for Medical Devices, Salam International Investment, Mannai Corporation, Qatari Investors Group, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding and Nakilat.
Nevertheless, Doha Bank, Islamic Holding Group, Medicare Group, Widam Food, Industries Qatar, United Development Company, Vodafone Qatar and Milaha were among the losers.
Domestic funds turned net buyers to the tune of QR3.1mn compared with net sellers of QR20.08mn on April 7.
The Gulf individuals were also net buyers to the extent of QR0.43mn against net sellers of QR1.47mn on Tuesday.
However, Qataris’ net selling grew significantly to QR44.52mn compared to QR38.66mn the previous day.
Non-Qatari individuals’ net selling also rose perceptibly to QR7.9mn against QR4.14mn on April 7.
The Gulf funds turned net profit takers to the tune of QR0.37mn compared with net buyers of QR4.67mn on Tuesday.
Non-Qatari funds’ net buying weakened noticeably to QR49.18mn against QR59.68mn on April 7.
Total trade volumes rose 9% to 193.77mn shares, while value fell less than 1% to QR333.23mn despite 5% higher transactions at 10,825.
The insurance sector's trade volume soared 40% to 3.99mn equities, value by 24% to QR7.23mn and deals by 40% to 286.
The industrials sector reported 29% surge in trade volume to 96.9mn stocks, 25% in value to QR117.95mn and 1% in transactions to 3,752.
The telecom sector's trade volume shot up 14% to 5.57mn shares, while value declined 19% to QR14.84mn despite 37% higher deals at 954.
The banks and financial services sector saw 11% jump in trade volume to 22.57 equities, 9% in value to QR112.82mn and 23% in transactions to 3,025.
The consumer goods and services sector's trade volume was up 8% to 21.92mn stocks, whereas value shrank 17% to QR36.47mn despite 8% higher deals at 1,266.
However, there was a 70% plunge in the transport sector’s trade volume to 4.03mn shares, 67% in value to QR10.86mn and 24% in transactions to 499.
The real estate sector’s trade volume was down 6% to 38.8mn equities, value by 6% to QR333.05mn and deals by 24% to 1,043.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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