The Qatar Stock Exchange on Monday overcame the initial technical glitches to finally close 48 points higher, mainly lifted by local retail investors and foreign institutions.
Buying was seen more pronounced at the industrials, insurance, real estate and consumer goods counters as the 20-stock Qatar Index settled 0.48% higher at 10,052.23 points, having touched an intraday high of 10,108 points.
Increased net buying from the Gulf institution and Arab individuals also had its influence in the overall bullish sentiments on the bourse, whose year-to-date losses were curtailed to 3.68%.
The foreign individuals were seen bullish albeit at lower levels on the market, whose capitalisation saw about QR3bn or 0.45% decrease to QR582.21bn, mainly owing to midcap segments.
The Islamic equities were seen gaining faster than the other indices on the bourse, which however saw domestic institutions turn net profit takers.
Trade turnover fell marginally amidst higher volumes on the market, where the industrials sector alone accounted for more than 61% of the trading volume.
A total of 15,0711 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR1.44mn changed hands across 21 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 0.48% to 19,686.87 points, All Share Index by 0.56% to 3,150.23 points and Al Rayan Islamic Index (Price) by 0.59% to 2,330.22 points.
The industrials sector index shot up 1.55%, insurance (1.4%), real estate (0.78%), consumer goods and services (0.77%), banks and financial services (0.21%) and transport (0.14%); while telecom declined 0.85%.
Major gainers included Industries Qatar, Investment Holding Group, Qatar Insurance, Zad Holding, Qatar National Cement, Vodafone Qatar, Barwa, Qatar Islamic Insurance, Mesaieed Petrochemical Holding, Doha Insurance, Qatar Industrial Manufacturing, Doha Bank, Salam International Investment and Qatar General Insurance and Reinsurance.
Nevertheless, Ahlibank Qatar, Dlala, Baladna, Ooredoo, Al Khaliji, Commercial Bank, Qatari German Medical Devices and Medicare Group were among the losers.
Local retail investors’ net buying increased considerably to QR20.7mn against QR7.64mn on March 4.
The foreign funds turned net buyers to the tune of QR17.82mn compared with net sellers of QR41.92mn last Thursday.
The Gulf institutions’ net buying grew notably to QR8.65mn against QR0.51mn the previous trading day.
The Arab individuals’ net buying strengthened markedly to QR7.91mn compared to QR2.84mn on March 4.
The foreign individuals were net buyers to the extent of QR1.91mn against net sellers of QR0.79mn last Thursday.
The Gulf individuals’ net profit booking eased marginally 2.14mn compared to QR3.4mn the previous day.
However, the domestic funds turned net sellers to the tune of QR54.8mn against net buyers of QR34.61mn on March 4.
The Arab institutions had no major exposure compared with net buyers to the tune of QR0.48mn last Thursday.
Total trade volume grew 23% to 267.2mn shares, while value was down less than 1% to QR465.18mn and transactions by 2% to 11,368.
The transport sector’s trade volume plummeted 32% to 3.04mn equities, value by 35% to QR11.23mn and deals by 26% to 433.
The realty sector reported 19% plunge in trade volume to 17.6mn stocks, 18% in value to QR35.73mn and 1% in transactions to 996.
The insurance sector’s trade volume tanked 18% to 4.87mn shares, value by 21% to QR15.14mn and deals by 25% to 350.
The banks and financial services sector saw 12% decline in trade volume to 28.25mn equities, 19% in value to QR132.65mn and 4% in transactions to 3,602.
However, the telecom sector’s trade volume soared 89% to 10mn stocks, whereas value shrank 20% to QR23.72mn and deals by 34% to 801.
There was 79% surge in the consumer goods and services sector’s trade volume to 39.43mn shares, 16% in value to QR67.84mn and 27% in transactions to 1,830.
The industrials sector’s trade volume shot up 31% to 164.01mn equities, value by 34% to QR178.86mn and deals by 7% to 3,356.