The Qatar Stock Exchange on Tuesday surpassed the 8,600 level, mainly on strong buying support from domestic institutions.
The transport and real estate counters witnessed higher than average demand as the 20-stock Qatar Index settled 69 points, or 0.81%, higher at 8,600.51 points, although it touched a low of 8,484 points within few seconds of opening.
Foreign funds were seen bullish in the bourse, whose year-to-date losses stood at 17.51%.
Market capitalisation saw more than QR4bn, or about 1% increase, to QR483.58bn mainly owing to mid and microcap segments.
Islamic stocks were seen gaining faster than the main index in the market, where local and Arab retail investors were increasingly net sellers.
Trade turnover and volumes were on the increase in the market, where the real estate sector alone accounted for more than 55% of the total trading volume.
The Total Return Index rose 0.81% to 16,534.19 points, the All Share Index by 0.77% to 2,674.68 points and the Al Rayan Islamic Index (Price) by 0.98% to 1,880.77 points.
The transport index shot up 3.68%, realty (2.93%), consumer goods and services (0.74%), banks and financial services (0.58%) and industrials (0.57%); while telecom and insurance were down 0.86% and 0.39% respectively.
About 78% of the traded constituents extended gains with major movers being Nakilat, Milaha, Ezdan United Development Company, Qatar First Bank, Al Khaliji, Dlala, Islamic Holding Group, Qatar German Company for Medical Devices, Medicare Group and Widam Food; even as Vodafone Qatar, Alijarah Holding, Al Khaleej Takaful and Ooredoo were among the losers.
Domestic funds’ net buying increased substantially to QR53.55mn compared to QR39.49mn on April 27.
Foreign institutions turned net buyers to the tune of QR8.75mn against net sellers of QR9.97mn the previous day.
Gulf funds were seen net buyers to the extent of QR1.74mn compared with net sellers of QR1.38mn on Monday.
However, Qatari individuals’ net selling increased considerably to QR53.39mn against QR26.53mn on April 27.
Arab individuals’ net profit booking grew perceptibly to QR7.49mn compared to QR2.51mn the previous day.
Foreign individuals turned net sellers to the extent of QR3.41mn against net buyers of QR0.32mn on Monday.
Gulf individuals’ net buying weakened notably to QR0.2mn compared to QR0.58mn on April 27.
Arab institutions had no major exposure.
Total trade volumes rose 70% to 251.23mn shares, value by 38% to QR396.09mn and transactions by 18% to 11,087.
The real estate sector’s trade volume more than tripled to 139.12mn equities and value also more than tripled to QR100.15mn on a 64% increase in deals to 1,777.
The transport sector’s trade volume more than doubled to 20.39mn stocks and value almost tripled to QR55.37mn on more-than-doubled transactions to 1,777.
The insurance sector reported a 80% surge in trade volume to 2.52mn shares, 74% in value to QR4.9mn and 79% in deals to 382.
The banks and financial services sector’s trade volume shot up 31% to 36.52mn equities, value by 6% to QR117.33mn and transactions by 7% to 3,892.
However, the telecom sector saw a 68% plunge in trade volume to 3.57mn stocks, 53% in value to QR9.23mn and 52% in deals to 453.
The industrials sector’s trade volume plummeted 33% to 18.41mn shares, value by 36% to QR29.32mn and transactions by 8% to 1,115.
The market witnessed 16% shrinkage in the consumer goods and services sector's trade volume to 30.7mn equities but on a 41% jump in value to QR79.79mn and 5% in deals to 1,691.
In the debt market, there was no trading of sovereign bonds and treasury bills.