The foreign funds' substantial buying interests yesterday lifted the Qatar Stock Exchange by more than 199 points and its capitalisation gained about QR12bn, as markets worldwide discounted fears of global recession.
A higher than average demand in the real estate, transport and banking counters was seen driving the 20-stock Qatar Index up 1.61% to 12,550.38 points, although it touched an intraday high of 12,675 points.
The Gulf institutions were increasingly net buyers in the market, whose year-to-date gains improved to 7.95%.
More than 62% of the traded constituents extended gains to investors in the bourse, whose capitalisation added QR11.57bn or 1.69% to QR695.29bn, mainly on the back of mid and small cap segments.
The Islamic index gained slower than the other indices in the market, which saw a total of 0.16mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.6mn changed hands across 62 deals.
Trade turnover and volumes were seen increasing in both the main and venture market.
However, the domestic funds were increasingly net sellers in the bourse, which saw no trading of sovereign bonds.
The local retail investors were seen bearish in the market, which saw no trading of treasury bills.
The Total Return Index shot up 1.61% to 25,707.26 points, the All Share Index by 1.51% to 3,983.71 points and the Al Rayan Islamic Index (Price) by 1.39% to 2,738.36 points.
The real estate sector zoomed 3.29%, transport (2.26%), banks and financial services (1.87%), industrials (0.99%), telecom (0.98%) and insurance (0.85%); while consumer goods and services declined 0.65%.
Major gainers in the main market included Ezdan, Masraf Al Rayan, Nakilat, Barwa, Gulf International Services, QNB, Alijarah Holding, Qamco, Mesaieed Petrochemical Holding and United Development Company.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value.
Nevertheless, Ahlibank Qatar, Gulf Warehousing, Zad Holding, QIIB and Medicare Group were among the losers in the main market.
The foreign institutions turned net buyers to the tune of QR174.34mn compared with net sellers of QR27.18mn on September 27.
The Gulf institutions’ net buying strengthened perceptibly to QR9.84mn against QR8.01mn the previous day.
However, the domestic institutions’ net selling expanded significantly to QR78.51mn compared to QR12mn on Tuesday.
Qatari individuals were net sellers to the extent of QR72.65mn against net buyers of QR18.81mn on September 27.
The Arab individuals turned net sellers to the tune of QR7.8mn compared with net buyers of QR7.45mn the previous day.
The foreign individuals were net profit takers to the extent of QR4.2mn against net buyers of QR2.69mn on Tuesday.
The Gulf retail investors turned net sellers to the tune of QR3.74mn compared with net buyers of QR2.24mn on September 27.
The Arab institutions had no major net exposure against net sellers to the extent of QR0.02mn the previous day.
Total trade volume in the main market grew 13% to 225.74mn shares, value by 39% to QR789.84mn and deals by 21% to 22,476.
The venture market saw volumes grow about six-fold to 0.46mn equities and value jump more than 12-fold to QR3.06mn on more than five-fold growth in transactions to 153.