Strong global oil prices that touched $139 a barrel lent its support to the Qatar Stock Exchange, which yesterday gained more than 128 points and its key index inched toward 13,600 levels.
A higher than average demand, especially in the industrials and real estate counters, led the 20-stock Qatar Index gain about 1% to 13,591.51 points, recovering from an intraday low of 13,424 points.
The Arab institutions were seen bullish in the market, whose year-to-date gains shot up to 16.91%.
More than 57% of the traded constituents extended gains to investors in the bourse, whose capitalisation saw QR4bn or 0.52% increase to QR772.58bn, mainly on the back of midcap segments.
The domestic institutions’ weakened net selling had its influence in the market, where the industrials sector alone accounted for about 55% of the trading volume.
The foreign institutions continued to be net buyers but with lesser intensity in the bourse, which saw a total of 40,150 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR370,322 changed hands across 11 deals.
Nevertheless, local retail investors were increasingly net sellers in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the increase in the bourse, which saw no trading of treasury bills.
The Total Return Index rose 1.8 to 27,470.37 points, All Share Index by 1.24% to 4,315.2 points and Al Rayan Islamic Index (Price) by 1.48% to 2,971.93 points.
The industrials sector index shot up 6.34%, realty (1.21%), insurance (0.61%) and transport (0.13%); while telecom declined 1.79%, banks and financial services (0.38%) and consumer goods and services (0.21%).
Major gainers in the main market included Industries Qatar, Qamco, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Electricity and Water, Qatar Islamic Bank, QIIB, Dlala, Barwa and Salam International Investment. In the venture market, Mekdam Holding saw its shares appreciate in value.
Nevertheless, Investment Holding Group, Zad Holding, Milaha, Ooredoo, Qatar National Cement, QNB, Commercial Bank, Baladna, Qatar National Cement and Gulf Warehousing were among the losers in the main market. In the juniour bourse, Al Faleh Educational Holding saw its equities depreciate in value.
The Arab institutions turned net buyers to the tune of QR8.2mn compared with net sellers of QR6.63mn on March 3.
The domestic funds’ net selling declined significantly to QR116.1mn against QR365.71mn the previous trading day.
The Arab individuals’ net profit booking shrank noticeably to QR3.71mn compared to QR13.57mn last Thursday.
The Gulf individuals’ net selling weakened perceptibly to QR1.4mn against QR3.68mn on March 3.
However, Qatari individuals’ net selling grew considerably to QR209.15mn compared to QR140.38mn the previous trading day.
The foreign individuals were net sellers to the extent of QR2.63mn against net buyers of QR9.18mn last Thursday.
The foreign institutions’ net buying decreased drastically to QR233.18mn compared to QR374.76mn on March 3.
The Gulf institutions’ net buying reduced markedly to QR91.62mn against QR143.02mn the previous trading day.
Total trade volume in the main market rose 1% to 395.08mn shares and value by 7% to QR1.62bn, while transactions were down 2% to 25,702.
The consumer goods and services sector’s trade volume soared 26% to 60.12mn equities, value by 28% to QR111.67mn and deals by 29% to 2,142.
There was 20% surge in the industrials sector’s trade volume to 216.88mn stocks, 27% in value to QR842.31mn and 16% in transactions to 10,476.
The transport sector’s trade volume shot up 14% to 10.87mn shares and value by 17% to QR50.99mn on almost doubled deals to 1,642.
The telecom sector reported 12% expansion in trade volume to 9.21mn equities but on 12% contraction in value to QR28.72mn and 13% in transactions to 1,269.
However, the real estate sector’s trade volume plummeted 55% to 30.76mn stocks, value by 49% to QR46.7mn and deals by 27% to 1,190.
The market witnessed 29% plunge in the insurance sector’s trade volume to 5.95mn shares, 15% in value to QR17.48mn and 3% in transactions to 255.
The banks and financial services sector’s trade volume shrank 10% to 61.29mn equities, value by 8% to QR523.44mn and deals by 22% to 8,728.
The venture market saw 10.34% shrinkage in trade volumes to 1.3mn stocks and 9.9% in value to QR13.47mn but on 3.24% growth in transactions to 255.
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