The increased buying interests of domestic and Gulf institutions on Wednesday lifted the Qatar Stock Exchange more than 100 points to place its key barometer above 8,700 levels with an ease.
Transport, real estate, industrials and telecom counters witnessed higher than average demand as the 20-stock Qatar Index soared 1.17% to 8,701.06 points.
The Arab institutions were seen marginally bullish and there was weakened net selling by foreign individuals on the bourse, whose year-to-date losses were trimmed to 16.54%.
Market capitalisation saw more than QR7bn or 1.49% jump to QR490.77bn mainly owing to large and small cap segments.
Islamic stocks were seen gaining slower than the other indices on the market, where local retail investors were increasingly net sellers and foreign funds turned bearish.
Trade turnover and volumes were on the increase on the market, where the real estate and industrials sectors together accounted for more than 69% of the total trading volume.
The Total Return Index rose 1.17% to 16,727.5 points, All Share Index by 1.14% to 2,705.06 points and Al Rayan Islamic Index (Price) by 1.03% to 1,900.13 points.
The transport index shot up 3.4%, realty (3.1%), industrials (1.81%), telecom (1.03%), banks and financial services (0.81%) and consumer goods and services (0.32%); while insurance declined 0.52%.
About 79% of the traded constituents extended gains with major movers being Milaha, Nakilat, Ezdan, Mazaya Qatar, United Development Company, Barwa, Aamal, Qatari Investors Group, Industries Qatar, Qamco, Doha Bank, Commercial Bank, Qatar First Bank, Alijarah Holding, Dlala, Qatar Oman Investment, Qatar German Medical Devices and Mannai Corporation; even as Gulf Warehousing, Qatar National Cement, Al Khaleej Takaful, Qatar Insurance, Islamic Holding Group and Baladna were among the losers.
Domestic funds’ net buying increased substantially to QR91.97mn compared to QR53.55mn on April 28.
The Gulf funds’ net buying grew considerably to QR12.93mn against QR1.74mn the previous day.
The Arab institutions were net buyers to the tune of QR1.53mn compared with no major exposure on Tuesday.
The Arab individuals’ net profit booking declined perceptibly to QR4.35mn against QR7.49mn on April 28.
Foreign individuals’ net selling weakened marginally to QR3.14mn compared to QR3.41mn the previous day.
However, local retail investors’ net selling increased substantially to QR79.45mn against QR53.39mn on Tuesday.
Foreign institutions were net sellers to the extent of QR18.48mn compared with net buyers of QR8.75mn on April 28.
The Gulf individuals turned net profit takers to the tune of QR1.03mn against net buyers of QR0.2mn the previous day.
Total trade volumes rose 68% to 420.97mn shares and value by 13% to QR448.85mn, while transactions were down 3% to 10,760.
The industrials sector’s trade volume more than quadrupled to 80.78mn equities and value more than doubled to QR68.7mn on 64% increase in deals to 1,831.
The insurance sector’s trade volume almost tripled to 6.89mn stocks and value also almost tripled to QR13.32mn on 24% growth in transactions to 473.
The consumer goods and services sector's trade volume more than doubled to 62.82mn shares but on 25% decline in value to QR60.14mn and 18% in deals to 1,395.
The telecom sector saw 73% surge in trade volume to 6.19mn equities and value more than tripled to QR29.07mn on more than doubled transactions to 1,201.
The real estate sector’s trade volume soared 52% to 210.88mn stocks, value by 58% to QR158.01mn and deals by 16% to 2,062.
The banks and financial services sector witnessed 27% surge in trade volume to 46.29mn shares but on 15% contraction in value to QR99.53mn and 23% in transactions to 2,978.
However, the transport sector’s trade volume plummeted 65% to 7.12mn equities, value by 64% to QR20.08mn and deals by 54% to 820.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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