Strong earnings, especially in the underlying stocks, brightened the sentiments on the Qatar Stock Exchange (QSE), whose key index vaulted 183 points to inch towards 13,600 levels.
The industrials and transport counters witnessed higher than average demand as the 20-stock Qatar Index shot up 1.27% to 13,562.2 points, recovering from an intraday low of 13,414 points.
The foreign institutions were increasingly net buyers in the market, whose year-to-date gains improved to 16.66%.
More than 68% of the traded stocks extended gains to investors in the bourse, whose capitalisation grew more than QR8bn or 1.12% to QR753.11bn, mainly on the back of midcap segments.
The Islamic index was seen gaining slower than the main index in the market, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.2mn changed hands across 14 deals.
The Arab retail investors were increasingly net buyers in the market, which saw no trading of sovereign bonds.
The Gulf individuals turned net buyers, albeit at lower levels, in the bourse, which saw no trading of treasury bills.
The Total Return Index rose 1.37% to 27,781.84 points, the All Share Index rose 1.08% to 4,303.5 points and the Al Rayan Islamic Index (Price) by 1.35% to 2,949.52 points.
The industrials sectors soared 1.43%, transport (1.42%), banks and financial services (1.22%), real estate (0.53%) and insurance (0.33%); while telecom declined 0.23% and consumer goods and services 0.1%.
Major gainers in the main market included Qatari German Medical Devices, Estithmar Holding, Qamco, Ezdan, Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding and Milaha.
In the venture market, Mekdam Holding saw its shares appreciate in value.
Nevertheless, Zad Holding, Baladna, United Development Company, Qatar Islamic Insurance and Qatari Investors Group were among the losers in the main market.
In the junior bourse, Al Faleh Educational Holding saw its shares depreciate in value.
The foreign institutions’ net buying increased substantially to QR50.26mn compared to QR9.87mn on August 7.
The Arab individuals’ net buying grew noticeably to QR12.39mn against QR10.69mn the previous day.
The Gulf retail investors turned net buyers to the tune of QR0.4mn compared with net sellers of QR0.5mn on Sunday.
The Arab funds were net buyers to the extent of QR0.1mn against no major net exposure for the previous three sessions.
The Gulf institutions’ net selling decreased markedly to QR0.56mn compared to QR2.67mn on August 7.
However, the domestic institutions were net sellers to the extent of QR36.56mn against net buyers of QR4.6mn the previous day.
Qatari individuals’ net profit booking grew perceptibly to QR25.15mn compared to QR22.23mn on Sunday.
The foreign individuals were net sellers to the tune of QR0.89mn against net buyers of QR0.25mn on August 7.
Total trade volume in the main market almost doubled to 253.25mn shares and value more than doubled to QR746.16mn on more than doubled transactions to 18,887.
In the venture market, trade volumes stood at 0.23mn stocks, value at QR1.31mn and deals at 46.