Reflecting the rally in the global financial and oil markets owing to the volatility in the US presidential elections, the Qatar Stock Exchange on Thursday shot up 163 points to inch near 9,900 levels.
An across the board buying – particularly at the industrials, banking and real estate counters – lifted the 20-stock Qatar Index by 1.67% to 9,889.46 points, although it touched an intraday low of 9,703 points.
Foreign institutions and individuals were seen bullish in the market, whose year-to-date losses were narrowed down to 5.14%.
About 78% of the traded constituents extended gains in the market, which saw Islamic equities gain slower than the conventional ones.
Market capitalisation saw more than QR9bn, or 1.61%, surge to QR574.01bn, mainly owing to midcap segments.
A total of 357,646 exchange traded funds (both Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued together at QR881,118 changed hands across 17 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover was marginally up amidst lower volumes in the bourse, where the industrials and realty sectors together accounted for more than 57% of the total trading volume.
The Total Return Index soared 1.67% to 19,012.16 points, the All Share Index by 1.68% to 3,058.79 points and the Al Rayan Islamic Index (Price) by 1.45% to 2,270.87 points.
The industrials index shot up 2.23%, banks and financial services (1.94%), realty (1.89%), insurance (1.53%), telecom (0.61%), transport (0.25%) and consumer goods and services (0.04%).
Major movers included Qatar First Bank, United Development Company, Qatari German Medical Devices, Mesaieed Petrochemical Holding, Qatar Industrial Manufacturing, Mazaya Qatar, QNB, Qatar Islamic Bank, Qatar Insurance, Dlala and Industries Qatar; even as Gulf Warehousing, Al Meera, Medicare Group, Ezdan and Inma Holding were among the losers.
Foreign funds turned net buyers to the tune of QR32.01mn compared with net sellers of QR13.68mn on November 4.
Foreign individuals were also net buyers to the extent of QR1.65mn against net sellers of QR2.04mn the previous day.
Arab individuals’ net selling declined notably to QR1.01mn compared to QR3.24mn on Wednesday.
However, local individuals’ net profit booking rose substantially to QR27.13mn against QR3.64mn on November 4.
Domestic funds turned net sellers to the tune of QR3.44mn compared with net buyers of QR19.94mn the previous day.
Gulf individuals were also net sellers to the extent of QR2.49mn against net buyers of QR0.14mn on Wednesday.
Gulf institutions’ net buying weakened perceptibly to QR0.45mn compared to QR2.49mn on November 4.
Arab funds continued to have no major exposure.
Total trade volumes fell 36% to 127.74mn shares, while value was up less than 1% to QR280.03mn despite 2% lower transactions at 6,870.
The industrials sector’s trade volume plummeted 53% to 40.73mn equities, value by 32% to QR48.86mn and deals by 20% to 1,517.
The telecom sector reported a 48% plunge in trade volume to 2.1mn stocks, 21% in value to QR8.71mn and 32% in transactions to 282.
The insurance sector’s trade volume tanked 41% to 2.85mn shares, value by 42% to QR5.82mn and deals by 38% to 127.
The consumer goods and services sector saw a 37% shrinkage in trade volume to 20.45mn equities, 22% in value to QR30.76mn and 8% in transactions to 927.
The real estate sector’s trade volume shrank 25% to 32.59mn stocks, value by 23% to QR45.99mn and deals by 23% to 1,128.
There was a 6% decline in the banks and financial services sector’s trade volume to 23.8mn shares but on a 59% jump in value to QR123.81mn and 45% in transactions to 2,529.
However, the transport sector’s trade volume surged 73% to 5.22mn equities, value by 66% to QR16.08mn and deals by 22% to 360.