The Qatar Stock Exchange on Wednesday gained more than 206 points and its key index inched towards 13,900 levels, mainly on strong buying in the banking and financial services sector.
Foreign funds were increasingly bullish as the 20-stock Qatar Index zoomed 1.51% to 13,875.92 points, recovering from an intraday low of 13,690 points.
About 49% of the traded constituents saw their shares appreciate in value in the market, whose year-to-date gains were at 19.35%.
The Gulf institutions were also increasingly net buyers in the bourse, whose capitalisation saw a 1.15% jump to QR776.61bn, mainly on the back of midcap segments.
The Islamic index was seen gaining slower than the other indices in the market, where the industrials and consumer goods sectors together accounted for about 63% of the trading volume.
However, the domestic funds were increasingly net sellers in the market, which saw a total of 329,880 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR4.55mn changed hands across 88 deals.
The local retail investors 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 1.51% to 28,311.38 points, the All Share Index by 1.39% to 4,429.55 points and the Al Rayan Islamic Index (Price) by 0.97% to 2,973.01 points.
The banks and financial services sector index soared 2.38%, consumer goods and services (1.03%), real estate (0.33%0, transport (0.2%) and industrials (0.08%); whereas insurance and telecom declined 0.96% and 0.09% respectively.
Major gainers in the main market included Investment Holding Group, Qatar Oman Investment, Qatar Islamic Bank, Masraf Al Rayan, Baladna, QNB, Commercial Bank, Doha Bank, QIIB, Woqod, Qatari Investors Group, Aamal Company, Qamco and Nakilat. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.
Nevertheless, Qatar Islamic Insurance, Dlala, Salam International Investment, Ahlibank Qatar, Al Khaleej Takaful, Widam Food, Qatar Insurance, Industries Qatar and Milaha were among the losers in the main market.
In the juniour bourse, Mekdam Holding saw its equities depreciate in value.
The foreign institutions’ net buying increased substantially to QR271.34mn compared to QR109.81mn on Tuesday.
The Gulf funds’ net buying strengthened considerably to QR56.53mn against QR10.81mn on April 5.
However, the domestic funds’ net selling grew significantly to QR173.05mn compared to QR92.95mn the previous day.
Qatari individuals’ net profit booking rose drastically to QR135.71mn against QR41.17mn on Tuesday.
The Arab individuals turned net sellers to the tune of QR11.32mn compared with net buyers of QR15.89mn on April 5.
The foreign individuals’ net profit booking shot up perceptibly to QR6.6mn against QR4.05mn the previous day.
The Gulf individuals were net sellers to the extent of QR1.19mn compared with net buyers of QR0.33mn on Tuesday.
The Arab institutions had no major net exposure against net buyers to the tune of QR1.31mn on April 5.
Total trade volume in the main market rose 51% to 493.14mn shares and value more than doubled to QR1.58bn on more-than-doubled transactions to 34,195.
The insurance sector’s trade volume more than quadrupled to 9.69mn equities and value also more than quadrupled to QR27.82mn on more-than-tripled deals to 953.
The banks and financial services sector’s trade volume more than doubled to 108.5mn stocks and value almost tripled to QR683.81mn on more-than-tripled transactions to 18,107.
The industrials sector’s trade volume more than doubled to 137.49mn shares and value also more than doubled to QR408.27mn on more-than- doubled deals to 7,147.
The transport sector reported an 86% surge in trade volume to 12.33mn equities and 76% in value to QR52.45mn on almost-tripled transactions to 1,283.
The telecom sector’s trade volume shot up 11% to 8.13mn stocks, value by 78% to QR29.85mn and deals by 61% to 1,036.
The consumer goods and services sector saw an 8% gain in trade volume to 172.33mn shares, 26% in value to QR310.7mn and 34% in transactions to 3,929.
However, the real estate sector’s trade volume was down 7% to 44.61mn equities, whereas value grew less than 1% to QR69.96mn and deals by 7% to 1,740.
The venture market registered a 33.33% shrinkage in trade volumes to 0.2mn stocks, 48.55% in value to QR1.24mn and 39.72% in transactions to 85.