The Qatar Stock Exchange on Wednesday surpassed 13,400 points, a multi-year high, reflecting higher oil prices, which have breached $110 a barrel on the simmering tensions between Russia and Ukraine.
The industrials and transport counters witnessed higher than average demand as the 20-stock Qatar Index surged 159 points or 1.2% to 13,431.34 points, recovering from an intraday low of 12,244 points.
Foreign institutions were increasingly bullish in the market, whose year-to-date gains shot up to 15.53%.
The Gulf institutions were seen net buyers in the bourse, whose capitalisation saw a 1.5% increase to QR766.51bn, mainly on the back of small and midcap segments.
The Gulf individuals were also seen bullish in the market, where the industrials and banking sectors together accounted for about 63% of the trading volume.
The foreign retail investors turned net buyers, albeit at lower levels, in the bourse, which saw a total of 41,988 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR258,748 changed hands across 15 deals.
Nevertheless, local retail investors were increasingly net sellers in the market, which saw no trading of sovereign bonds.
Total trade turnover grew amidst lower volumes in the bourse, which saw no trading of treasury bills.
The Total Return Index rose 1.2% to 26,902.37 points, the All Share Index by 1.09% to 4,257.77 points and the Al Rayan Islamic Index (Price) by 0.98% to 2,917.52 points.
The industrials sector index shot up 2.08%, transport (1.94%), banks and financial services (0.95%) and real estate (0.23%); while insurance declined 0.25%, telecom (0.17%) and consumer goods and services (0.13%).
Major gainers in the main market included Investment Holding Group, Mesaieed Petrochemical Holding, Qatari Investors Group, Ezdan, Nakilat, QNB, QIIB, Inma Holding, Industries Qatar, Qamco, QNB, Qatar General Insurance and Reinsurance, QLM and Mazaya Qatar. In the venture market, Mekdam Holding saw its shares appreciate in value.
Nevertheless, Qatar Cinema and Film Distribution, Qatar National Cement, Salam International Investment, Qatar Islamic Insurance, Dlala, Medicare Group, Al Khaleej Takaful, United Development Company, Barwa and Vodafone Qatar were among the losers in the main market.
The foreign institutions’ net buying increased markedly to QR348.34mn compared to QR318.42mn on March 1.
The Gulf institutions turned net buyers to the tune of QR114mn against net sellers of QR0.8mn the previous day.
The Gulf individuals were net buyers to the extent of QR3.17mn compared with net sellers of QR6.73mn on Tuesday.
The foreign individuals turned net buyers to the tune of QR0.22mn against net profit takers of QR0.58mn on March 1.
However, the domestic funds’ net selling grew drastically to QR315.13mn compared to QR190.71mn the previous day.
Qatari individuals’ net profit booking strengthened perceptibly to QR142.18mn against QR136.05mn on Tuesday.
The Arab individuals were net sellers to the extent of QR6.83mn compared with net buyers of QR17.37mn on March 1.
The Arab institutions’ net profit booking rose marginally to QR1.59mn against QR0.93mn the previous day.
Total trade volume in the main market fell 14% to 379.16mn shares, while value was up 4% to QR1.61bn and transactions by 8% to 27,505.
The consumer goods and services sector’s trade volume plummeted 49% to 68.86mn equities, value by 37% to QR113.52mn and deals by 7% to 2,486.
The telecom sector reported a 33% plunge in trade volume to 12mn stocks and 47% in value to QR43.79mn but on a 17% growth in transactions to 1,784.
The banks and financial services sector’s trade volume shrank 15% to 74.23mn shares, whereas value gained 13% to QR743.76mn and deals by 12% to 12,428.
However, the market witnessed a 16% surge in the real estate sector’s trade volume to 41.96mn equities, 8% in value to QR56.8mn and 19% in transactions to 1,428.
The industrials sector’s trade volume soared 12% to 163.07mn stocks, value by 13% to QR579.41mn and deals by 5% to 7,341.
There was an 8% expansion in the transport sector’s trade volume to 14.01mn shares, 15% in value to QR59.31mn and 4% in transactions to 1,390.
The insurance sector’s trade volume was up 2% to 5.03mn equities, value by 6% to QR15.71mn and deals by 9% to 648.
The venture market saw 34.09% decrease in volumes to 0.29mn stocks, 33.8% in value to QR2.84mn and 68.02% in transactions to 63.