Rising oil prices, which have hovered around $120 a barrel on the Russia-Ukraine crisis, lifted the sentiments across the Gulf bourses, including the Qatar Stock Exchange, which yesterday gained 32 points to inch near 13,500 points.
A higher than average demand, especially at the industrials and consumer goods counters, led the 20-stock Qatar Index to gain 0.24% to 13,463.02 points, recovering from an intraday low of 13,334 points.
Foreign institutions were increasingly bullish in the market, whose year-to-date gains shot up to 15.8%.
The Gulf institutions were also increasingly into net buying in the bourse, whose capitalisation saw more than QR2bn or 0.27% increase to QR768.58bn, mainly on the back of small cap segments.
The foreign individuals were also seen increasingly bullish in the market, where the industrials, banking and realty sectors together accounted for more than 81% of the trading volume.
The local retail investors’ net selling weakened marginally in the bourse, which saw a total of 30,450 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR347,980 changed hands across seven deals.
Nevertheless, domestic funds were increasingly net sellers in the market, which saw no trading of sovereign bonds.
Total trade turnover declined amidst higher volumes in the bourse, which saw no trading of treasury bills.
The Total Return Index rose 0.31 to 26,985.47 points, the All Share Index by 0.11% to 4,262.44 points and the Al Rayan Islamic Index (Price) by 0.38% to 2,928.66 points.
The industrials sector index shot up 1.69%, followed by consumer goods and services (0.59%) and real estate (0.12%); while transport declined 1.09%, banks and financial services (0.46%), insurance (0.2%) and telecom (0.08%).
Major gainers in the main market included Industries Qatar, Gulf International Services, Qamco, Baladna, Qatar Islamic Insurance, Ahlibank Qatar, Woqod and Qatar Industrial Manufacturing.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value.
Nevertheless, about 64% of the traded constituents in the main market were in the red with major losers being Investment Holding Group, Dlala, Doha Insurance, Qatari Investors Group, QNB, Qatar Oman Investment, Qatari German Medical Devices, Salam International Investment, Mannai Corporation, Qatar National Cement and Nakilat.
The foreign institutions’ net buying increased markedly to QR374.76mn compared to QR348.34mn on March 2.
The Gulf institutions’ net buying strengthened considerably to QR143.02mn against QR114mn the previous day.
The foreign individuals’ net buying grew noticeably to QR9.18mn compared to QR0.22mn on Wednesday.
Qatari individuals’ net profit booking fell marginally to QR140.38mn against QR142.18mn on March 2.
However, the domestic funds’ net selling grew significantly to QR365.71mn compared to QR315.13mn the previous day.
The Arab individuals’ net profit booking rose perceptibly to QR13.57mn against QR6.83mn on Wednesday.
The Arab institutions’ net profit booking expanded influentially to QR6.63mn compared to QR1.59mn on March 2.
The Gulf individuals turned net sellers to the tune of QR3.68mn against net buyers of QR3.17mn the previous day.
Total trade volume in the main market rose 3% to 389.9mn shares, while value fell 6% to QR1.51bn and transactions by 5% to 26,133.
The insurance sector’s trade volume surged 66% to 8.36mn equities and value by 31% to QR20.55mn, while deals shrank 59% to 263.
The market witnessed a 62% surge in the real estate sector’s trade volume to 67.78mn stocks, 63% in value to QR92.31n and 14% in transactions to 1,632.
The industrials sector’s trade volume zoomed 11% to 180.55mn shares, value by 15% to QR665.67mn and deals by 23% to 9,015.
However, there was a 32% plunge in the transport sector’s trade volume to 9.54mn equities, 26% in value to QR43.64mn and a 38% in transactions to 861.
The consumer goods and services sector’s trade volume plummeted 31% to 47.6mn stocks, value by 23% to QR86.93mn and deals by 33% to 1,666.
The telecom sector reported a 31% shrinkage in trade volume to 8.25mn shares, 26% in value to QR32.52mn and 18% in transactions to 1,463.
The banks and financial services sector’s trade volume was down 9% to 67.84mn equities, value by 24% to QR567.62mn and deals by 10% to 11,233.
The venture market saw five-fold increase in volumes to 1.45mn stocks and more than five-fold in value to QR14.95mn on almost quadrupled in transactions to 247.
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