The foreign institutions’ increased net buying Wednesday lifted the Qatar Stock Exchange above 11,600 levels.
The banks and transport counters witnessed higher than average demand as the 20-stock Qatar Index gained more than 85 points or 0.74% to 11,606.92 points, recovering from an intraday low of 11,534 points.
The Gulf funds were seen bullish in the bourse, whose year-to-date gains improved to 11.22%.
More than 63% of the traded constituents extended gains to investors in the market, whose capitalisation rose more than QR5bn or 0.75% to QR670.25bn, mainly on large cap segments.
The Islamic index was seen gaining slower than the other indices in the bourse, where the industrials and banking sectors together constituted more than 65% of the total trading volume.
The overall trade turnover and volumes were on the increase in the main market, where the Arab institutions continued to be net buyers but with lesser intensity.
Nevertheless, local retail investors and domestic funds were increasingly bearish in the market, which saw a total of 33,842 exchange traded funds (Doha Bank sponsored-QETF) valued at QR380,749 change hands across six deals.
The Total Return Index gained 0.74% to 22,976.6 points, the Al Rayan Islamic Index (Price) by 0.5% to 2,629.29 points and the All Share Index by 0.78% to 3,665.26 points in the market, which saw no trading of sovereign bonds and treasury bills.
The banks and financial services index shot up 1.1%, transport (0.74%), industrials (0.62%), telecom (0.22%), consumer goods and services (0.07%) and real estate (0.;02%); while insurance gained 0.05%.
Major gainers in the main market included Industries Qatar, QNB, Qatar Electricity and Water, Qatar National Cement, Nakilat, Investment Holding Group, Qatar Islamic Bank, Masraf Al Rayan, Doha Insurance, Al Khaliji and Salam International Investment. Both Mekdam and Al Faleh Educational Holding were gainers in the venture market.
However, Ezdan, Qatar Industrial Manufacturing, Qatar Islamic Insurance, Mannai Corporation, Widam Food and Qatar General Insurance and Reinsurance were among the losers in the main market.
The foreign institutions’ net buying increased significantly to QR97.22mn against QR61.54mn on October 5.
The Gulf institutions turned net buyers to the tune of QR19.32mn compared with net sellers of QR1.18mn on Tuesday.
However, the local retail investors’ net selling expanded substantially to QR66.58mn against QR29.41mn the previous day.
The domestic funds’ net profit booking grew markedly to QR36.57mn compared to QR30.84mn on October 5.
The Arab individuals were net sellers to the extent of QR5.65mn against net buyers of QR0.48mn on Tuesday.
The foreign individuals’ net selling strengthened noticeably to QR5.23mn compared to QR1.75mn the previous day.
The Gulf individuals turned net profit takers to the tune of QR2.8mn against net buyers of QR0.37mn on October 6.
The Arab institutions’ net buying decreased marginally to QR0.29mn compared to QR0.8mn on Tuesday.
Total trade volume in the main market rose 19% to 226.22mn shares, value by 30% to QR662.28mn and transactions by 34% to 13,430.
The venture market saw volume more than double as value and deals grow 24% and 58% respectively.
In the main market, the insurance’s sector’s trade volume almost quadrupled to 12.04mn equities and value almost tripled to QR30.72mn on 13% growth in transactions to 225.
The transport sector’s trade volume more than doubled to 14.05mn stocks and value almost tripled to QR56.22mn on more than doubled deals to 1,076.
The banks and financial services sector’s trade volume more than doubled to 61.65mn shares and value almost doubled to QR296.05mn on more than doubled transactions to 6,629.
There was a 10% jump in the industrials sector’s trade volume to 86.49mn equities but on a 1% fall in value to QR187.86mn amidst 6% gain in deals to 3,238.
However, the real estate sector’s trade volume plummeted 51% to 17.36mn stocks, value by 38% to QR30.86mn and transactions by 44% to 719.
The market witnessed a 39% plunge in the telecom sector’s trade volume to 2.62mn shares, 52% in value to QR7.91mn and 58% in deals to 355.
The consumer goods and services sector’s trade volume was down 5% to 32.01mn equities, value by 24% to QR52.67mn and transactions by 2% to 1,188.