The Qatar Stock Exchange on Thursday gained 145 points and its key barometer inched towards 12,700 points, mainly led by banks and financial services sector.
More than 51% of the traded constituents extended gains as the 20-stock Qatar Index settled 1.15% higher at 12,695.27 points, although it touched an intraday high of 12,759 points.
The weakened net selling pressure from both local retail investors and domestic funds had its influence in the market, whose year-to-date gains improved to 9.2%.
The foreign institutions continued to be net buyers but with lesser intensity in the bourse, whose capitalisation added QR10.05bn or 1.45% to QR705.34bn, mainly on the back of large and midcap segments.
The Islamic index gained slower than the other indices in the market, which saw a total of 0.11mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.24mn changed hands across 38 deals.
Trade turnover and volumes were seen decreasing in both the main and venture markets.
The Gulf individuals’ net selling was seen weakening in the bourse, which saw no trading of sovereign bonds.
The Arab retail investors’ net profit booking weakened in the market, which saw no trading of treasury bills.
The Total Return Index shot up 1.15% to 26,004.03 points, the All Share Index by 1.27% to 4,034.13 points and the Al Rayan Islamic Index (Price) by 0.25% to 2,745.54 points.
The banks and financial services sector index gained 1.78%, industrials (0.99%), transport (0.74%), consumer goods and services (0.73%) and realty (0.43%); while insurance and telecom declined 0.73% and 0.03% respectively.
Major gainers in the main market included QNB, Qatar Islamic Insurance, Qatar Islamic Bank, Zad Holding, Nakilat, Mannai Corporation, Industries Qatar, Mesaieed Petrochemical Holding, Ezdan, Mazaya Qatar and Nakilat.
In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.
Nevertheless, Qatar Cinema and Film Distribution, Qatar Insurance, Qatar National Cement, Milaha, Qatari German Medical Devices, QIIB, Aamal Company, Qatar Electricity and Water and Milaha were among the losers in the main market. In the juniour bourse, Mekdam Holding saw its shares depreciate in value.
The domestic institutions’ net selling declined significantly to QR18.73mn compared to QR78.51mn on September 28.
Qatari individuals’ net profit booking weakened substantially to QR18.29mn against QR72.65mn the previous day.
The foreign individuals’ net selling decreased noticeably to QR0.22mn compared to QR4.2mn on Wednesday.
The Arab individuals’ net selling shrank perceptibly to QR5.94mn against QR7.8mn on September 28.
The Gulf retail investors’ net profit booking fell notably to QR2.76mn compared to QR3.74mn the previous day.
However, the Arab institutions turned net sellers to the tune of QR0.25mn against no major net exposure on Wednesday.
The foreign institutions’ net buying weakened considerably to QR40.07mn compared to QR174.34mn on September 28.
The Gulf institutions’ net buying fell perceptibly to QR6.12mn against QR9.84mn the previous day.
Total trade volume in the main market was down 6% to 212.76mn shares, value by 14% to QR681.31mn and deals by 5% to 21,334.
The venture market saw a 37% contraction in volumes to 0.29mn equities and 33% in value to QR2.06mn but on a 5% jump in transactions to 160.