The Qatar Stock Exchange on Wednesday gained more than 128 points and its key index surpassed 13,500 levels, mainly on the back of strong buying in the industrials counter.
The foreign institutions were increasingly bullish as the 20-stock Qatar Index rose 0.96% to 13,525.04 points, recovering from an intraday low of 13,324 points.
The Islamic index was seen gaining slower than the other indices in the market, whose year-to-date gains were at 16.34%.
More than 71% of the traded constituents extended gains in the market, whose capitalisation saw about QR7bn or 0.89% increase to QR764.62bn, mainly on the back of mid and small cap segments.
The Gulf funds were also increasingly net buyers in the bourse, where the industrials and banking sectors together accounted for about 73% of the trading volume.
The Arab individuals continued to be net buyers but with lesser intensity in the market, which saw a total of 32,611 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR359,442 changed hands across 16 deals.
The domestic institutions were increasingly net profit takers in the bourse, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the increase in the market, which saw no trading of treasury bills.
The Total Return Index gained 0.96% to 27,595.48 points, All Share Index by 0.84% to 4,321.49 points and Al Rayan Islamic Index (Price) by 0.89% to 2,936.93 points.
The industrials sector index zoomed 1.77%, banks and financial services (0.77%), consumer goods and services (0.51%) and real estate (0.31%); whereas transport declined 0.48%, telecom (0.4%) and insurance (0.1%).
Major gainers in the main market included Mesaieed Petrochemical Holding, Investment Holding Group, Industries Qatar, Qamco, Gulf International Services, Qatar Islamic Bank, Zad Holding, Dlala, Qatari Investors Group, Mazaya Qatar and Gulf Warehousing. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value.
Nevertheless, QLM, Qatar First Bank, Nakilat, Qatar German Medical Devices and Ooredoo were among the losers in the main market.
The foreign institutions’ net buying increased significantly to QR231.79mn against QR108.69mn on March 22.
The Gulf institutions’ net buying strengthened drastically to QR124.58mn compared to QR6.6mn on Tuesday.
Qatari individuals’ net selling declined marginally to QR27.52mn against QR27.67mn the previous day.
However, the domestic funds’ net selling grew considerably to QR328.19mn compared to QR97.5mn on March 22.
The foreign individuals’ net profit booking gained perceptibly to QR2.36mn against QR0.28mn on Tuesday.
The Arab individuals’ net buying shrank noticeably to QR1.61mn compared to QR9.02mn the previous day.
The Gulf individuals’ net buying eased marginally to QR0.09mn against QR1.14mn on March 22.
The Arab institutions continued to have no major net exposure for the second straight session.
Total trade volume in the main market rose 44% to 248.86mn shares, value by 80% to QR1.1bn and transactions by 11% to 21,325.
The banks and financial services sector’s trade volume more than doubled to 77.12mn equities and value also more than doubled to QR603.03mn on 28% increase in deals to 10,401.
The industrials sector reported 55% surge in trade volume to 103.34mn stocks, 60% in value to QR331.56mn and 29% in transactions to 6,277.
The insurance sector’s trade volume shot up 40% to 3.11mn shares, value by 38% to QR11.49mn and deals by 30% to 301.
The market witnessed 26% expansion in the consumer goods and services sector’s trade volume to 34.73mn equities and 1% in value to QR78.27mn but on 26% decrease in transactions to 1,764.
The transport sector’s trade volume zoomed 25% to 4.43mn stocks, value by 25% to QR20.59mn and deals by 22% to 807.
However, there was 33% contraction in the telecom sector’s trade volume to 2.26mn shares and 32% in value to QR7.51mn but on 11% jump in transactions to 524.
The real estate sector’s trade volume plummeted 26% to 23.87mn equities, value by 13% to QR43.15mn and deals by 49% to 1,251.
The venture market registered almost quadrupled trade volumes to 0.38mn stocks and value more than tripled to QR4.06mn on more than tripled transactions to 135.