Higher-than-average demand at the insurance, industrials and banking counters on Thursday lifted the Qatar Stock Exchange as much as 90 points to comfortably place its key barometer above 9,400 levels.
Foreign funds were seen bullish as the 20-stock Qatar Index gained 0.96% to 9,411.23 points.
Islamic stocks were seen gaining slower than the other indices in the bourse, whose year-to-date losses were at 9.72%.
Market capitalisation saw about QR5bn, or 0.89%, increase to QR550.76bn, mainly owing to large cap segments.
A total of 7,075 exchange traded funds (both QATR and QETF) valued at QR15,131 changed hands across six transactions; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover declined amidst higher volumes in the market, where the banking, industrials and consumer goods sectors together accounted for about 74% of the total trading volume.
The Total Return Index gained 0.96% to 18,093.93 points, the All Share Index by 0.96% to 2,942.12 points and the Al Rayan Islamic Index (Price) by 0.9% to 2,123.77 points.
The insurance index soared 1.95%, industrials (1.83%), banks and financial services (1.07%), consumer goods and services (0.54%) and realty (0.09%); while transport and telecom declined 1.06% and 0.72% respectively.
About 73% of the traded constituents extended gains with major gainers being Industries Qatar, QNB, Qatar Electricity and Water, Qatar General Insurance and Reinsurance, Qatar Oman Investment, Baladna, Qatari Investors Group, Doha Bank, Qatar Islamic Bank and Qamco; whereas Qatar German Medical Devices Company, Milaha, Vodafone Qatar, Mazaya Qatar and Gulf Warehousing were among the losers.
Foreign institutions turned net buyers to the tune of QR14.1mn compared with net sellers of QR87.54mn on August 5.
However, local retail investors were net sellers to the extent of QR30.76mn against net buyers of QR17.28mn on Wednesday.
Arab individuals turned net sellers to the tune of QR4.59mn compared with net buyers of QR10.38mn the previous day.
Gulf institutions’ net profit booking increased considerably to QR4.18mn against QR1.46mn on August 6.
Foreign individuals were net sellers to the extent of QR1.3mn compared with net buyers of QR0.76mn on Wednesday.
Gulf individuals turned net sellers to the tune of QR1.11mn against net buyers of QR0.81mn the previous day.
Arab institutions were net profit takers to the extent of QR0.13mn compared with no exposure on August 6.
Domestic funds’ net buying weakened significantly to QR27.97mn against QR59.79mn on Wednesday.
Total trade volumes grew 26% to 255.45mn shares, while value fell 8% to QR463.89mn and transactions by 38% to 8,234.
The insurance sector’s trade volume almost quadrupled to 20.97mn equities and value more than tripled to QR40.51mn on a 36% increase in deals to 355.
The banks and financial services sector saw a 68% surge in trade volume to 96.76mn stocks but on a 1% fall in value to QR203.07mn and 46% in transactions to 2,928.
The telecom sector’s trade volume soared 62% to 13.24mn shares, while value shrank 1% to QR20.89mn and deals by 59% to 368.
There was a a 1% rise in the industrials sector’s trade volume to 51.12mn equities but on a 29% shrinkage in value to QR59.95mn and 37% in transactions to 1,632.
However, the transport sector’s trade volume plummeted 52% to 6.62mn stocks, value by 49% to QR27.94mn and deals by 41% to 481.
The consumer goods and services sector reported less than 1% fall in trade volume to 40.3mn shares, 13% in value to QR76.77mn and 18% in transactions to 1,586.
The real estate sector’s trade volume was down less than 1% to 26.45mn equities, value by 9% to QR34.77mn and deals by 39% to 884.