The Qatar Stock Exchange on Thursday gained 60 points to inch near 11,700 levels, mainly on foreign institutions’ increased buying interests.
The industrials and banking counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.51% higher at 11,663.63 points, recovering from an intraday low of 11,594 points.
“Improved macroeconomic indicators as well as international oil and gas prices and higher non-Qatari ownership limits are expected to positively affect the weights of the listed companies in the global indicators,” QSE chief executive Rashid bin Ali al-Mansoori tweeted in response to the rally in the stocks.
The Gulf institutions and local retail investors turned bullish in the bourse, whose year-to-date gains improved to 11.76%.
The foreign individuals were increasingly net buyers in the market, whose capitalisation saw more than QR3bn or 0.53% jump to QR675.79bn, mainly owing to small and microcap segments.
The Gulf individuals were seen net buyers, albeit at lower levels, in the bourse, where the industrials and consumer goods sectors together constituted more than 74% of the total trading volume.
The overall trade turnover and volumes were on the increase in the main market, where the domestic funds were increasingly net sellers.
The Arab individuals continued to be net buyers but with lesser vigour in the market, which saw a total of 61,659 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR560,388 change hands across 12 deals.
The Total Return Index rose 0.51% to 23,088.86 points, the All Share Index by 0.52% to 3,689.9 points and the Al Rayan Islamic Index (Price) by 0.43% to 2,644.67 points in the market, which saw no trading of sovereign bonds and treasury bills.
The industrials sector index gained 0.89%, banks and financial services (0.56%), transport (0.31%), telecom (0.22%) and realty (0.11%); while insurance declined 0.2% and consumer goods and services (0.03%).
Major movers in the main market included Qamco, Mesaieed Petrochemical Holding, Gulf International Services, Salam International Investment, QNB, Industries Qatar, Mazaya Qatar, United Development Company, Ooredoo and Nakilat.
Nevertheless, Qatari German Medical Devices, Inma Holding, Ezdan, Qatar Cinema and Film Distribution, Investment Holding Group, Commercial Bank, Qatar Industrial Manufacturing, Qatari Investors Group, Qatar Electricity and Water and Vodafone Qatar were among the shakers in the main market.
Mekdam Holding was seen declining in the venture market.
The foreign institutions’ net buying increased significantly to QR117.44mn compared to QR82.57mn on October 13.
The Gulf funds turned net buyers to the tune of QR18.45mn against net sellers of QR3.83mn the previous day.
The local retail investors were net buyers to the extent of QR6.62mn against net sellers of QR32.02mn on Wednesday.
The foreign individuals’ net buying increased noticeably to QR3.75mn compared to QR1.16mn on October 13.
The Gulf individuals turned net buyers to the tune of QR0.64mn against net sellers of QR2.58mn the previous day.
However, the domestic funds’ net selling strengthened significantly to QR151.23mn compared to QR60.71mn on Wednesday.
The Arab individuals’ net buying weakened markedly to QR4.32mn against QR15.42mn on October 13.
The Arab institutions had no major net exposure for the fifth straight session.
Total trade volume in the main market rose 5% to 305.01mn shares, value by 11% to QR744.86mn and transactions by 2% to 15,941.
The insurance’s sector’s trade volume more than quadrupled to 2.77mn equities and value more than tripled to QR8.04mn on almost-tripled deals to 236.
The transport sector’s trade volume more than doubled to 6.72mn stocks, value soared 84% to QR25.41mn and transactions by 47% to 526.
The market witnessed a 62% surge in the telecom sector’s trade volume to 7.07mn shares, 46% in value to QR21.08mn and less than 1% in deals to 940.
The industrials sector’s trade volume shot up 23% to 161.66mn equities, value by 37% to QR336.94mn and transactions by 25% to 5,904.
However, there was a 17% plunge in the real estate sector’s trade volume to 29.27mn stocks, 20% in value to QR41.56mn and 18% in deals to 1,249.
The banks and financial services sector’s trade volume tanked 17% to 33.44mn shares, whereas value grew 13% to QR219.93mn amidst 5% decline in transactions to 5,423.
The consumer goods and services sector reported a 14% shrinkage in trade volume to 64.08mn equities, 37% in value to QR91.9mn and 27% in deals to 1,663.
The venture market had seen volumes more than quadruple and value jump more than seven-fold on doubled transactions.
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