The Qatar Stock Exchange on Wednesday gained about 89 points to inch near 11,900 levels, mainly supported by strong buying interests of the foreign institutions.
The industrials and transport counters witnessed higher than average demand as the 20-stock Qatar Index grew 0.76% to 11,856.43 points, recovering from an intraday low of 11,771 points.
The foreign individuals were increasingly net buyers in the bourse, whose year-to-date gains improved to 13.61%.
The local retail investors’ weakened net selling had its influence in the market, whose capitalisation saw more than QR3bn or 0.44% jump to QR684.44bn, mainly owing to mid and large cap segments.
The Islamic index was seen gaining slower than the other indices in the bourse, where the industrials sector alone constituted more than 48% of the total trading volume.
The overall trade turnover and volumes were on the increase in the main market, where the domestic funds were increasingly net profit takers.
The Gulf individuals were seen net sellers in the market, which saw a total of 13,528 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR49,208 change hands across seven deals.
The Total Return Index rose 0.76% to 23,470.51 points, All Share Index by 0.54% to 3,744.22 points and Al Rayan Islamic Index (Price) by 0.56% to 2,673.8 points in the market, which saw no trading of sovereign bonds and treasury bills.
The industrials sector index gained 1.18%, transport (0.82%), banks and financial services (0.44%), telecom (0.31%) and real estate (0.14%); while insurance declined 0.45% and consumer goods and services 0.08%.
Major gainers in the main market included Gulf International Services, Industries Qatar, Masraf Al Rayan, Mannai Corporation, Nakilat, QLM, Untied Development Company, Vodafone Qatar and Ooredoo. Mekdam Holding was seen gaining in the venture market.
However, Qatari German Medical Devices, Salam International Investment, Qamco, Ezdan, Qatar Oman Investment, Qatar Insurance and Gulf Warehousing were among the losers in the main market. Al Faleh was seen losing in the juniour market.
The foreign institutions’ net buying grew significantly to QR115.29mn compared to QR80.37mn on October 19.
The foreign individuals’ net buying strengthened perceptibly to QR3.67mn against QR2.31mn the previous day.
The local retail investors’ net selling declined noticeably to QR7.69mn compared to QR10.94mn on Tuesday.
However, the domestic funds’ net profit booking grew substantially to QR107.19mn against QR85.44mn on October 19.
The Gulf individuals turned net sellers to the tune of QR11.97mn compared with net buyers of QR1.26mn the previous day.
The Arab individuals’ net profit booking strengthened notably to QR2.1mn against QR1.03mn on Tuesday.
The Gulf institutions’ net buying decreased markedly to QR9.99mn compared to QR13.48mn on October 19.
The Arab institutions had no major net exposure for the ninth straight session.
Total trade volume in the main market rose 38% to 279.72mn shares, value by 34% to QR806.68mn and transactions by 13% to 15,656.
The insurance’s sector’s trade volume more than tripled to 3.08mn equities and value also more than tripled to QR11.72mn on more than tripled deals to 245.
The consumer goods and services sector reported 87% surge in trade volume to 44.11mn stocks and 14% in value to QR72.18mn but on 6% fall in transactions to 1,547.
The transport sector’s trade volume soared 79% to 16.41mn shares, value by 68% to QR66.01mn and deals by 60% to 1,158.
There was 39% expansion in the industrials sector’s trade volume to 135.2mn equities, 34% in value to QR325.64mn and 20% in transactions to 4,679.
The real estate sector’s trade volume shot up 18% to 38.7mn stocks and value by 28% to QR56.61mn on more than doubled deals to 1,567.
The banks and financial services sector saw 13% jump in trade volume to 40.86mn shares, 39% in value to QR270.39mn and 2% in transactions to 6,271.
However, the telecom sector’s trade volume plummeted 55% to 1.36mn equities, value by 67% to QR4.14mn and deals by 69% to 189.
In the venture market, volumes, value and transactions declined 80%, 94.21% and 57.69% respectively.