The Qatar Stock Exchange Wednesday gained a whopping 111 points and its key index inched near 12,200 levels, mainly lifted by foreign funds’ buying interests, reflecting the optimism towards robust earnings season.
The banking sector witnessed higher than average demand as the 20-stock Qatar Index rose 0.92% to 12,163.22 points, recovering from an intraday low of 12,052 points.
Foreign individuals were seen net buyers in the market, whose year-to-date gains were at 4.62%.
More than 79% of the traded constituents extended gains to investors in the bourse, whose capitalisation gained about QR8bn or 1.17% to QR692.57bn, mainly on the back of large and midcap segments.
The Arab individuals turned bearish, albeit at lower levels, in the main market, which saw a total of 173,001 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR1.71mn trade across 29 deals.
The Total Return Index gained 0.92% to 24,077.82 points, the All Share Index by 1.04% to 3,832.07 points and the Al Rayan Islamic Index (Price) by 0.75% to 2,693.51 points in the market, which saw no trading of sovereign bonds and treasury bills.
The banks and financial services sector index shot up 1.43%, realty (0.97%), telecom (0.89%), industrials (0.71%), consumer goods and services (0.46%), insurance (0.05%) and transport (0.02%).
Major gainers included Mesaieed Petrochemical Holding, Gulf Warehousing, QNB, Vodafone Qatar, Mannai Corporation, Commercial Bank, Widam Food, Aamal Company, Gulf International Services, Qamco, Mazaya Qatar, Ezdan and United Development Company.
Nevertheless, Inma Holding, Doha Insurance, Al Khaleej Takaful, Nakilat and Qatar First Bank were among the losers in the main market. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their stocks depreciate in value.
The foreign institutions' net buying rose substantially to QR182.46mn compared to QR97.43mn on January 11.
The Gulf institutions’ net buying increased considerably to QR25.46mn against QR1.84mn the previous day.
Foreign individuals turned net buyers to the extent of QR4.92mn compared with net sellers of QR1.48mn on Tuesday.
The Gulf individuals’ net buying strengthened notably to QR1.77mn against QR0.05mn on January 11.
The Arab individuals were net buyer to the tune of QR0.21mn compared with net sellers of QR5.68mn the previous day.
However, the domestic funds’ net selling shot up significantly to QR141mn against QR96.59mn on Tuesday.
Qatari individuals turned net profit takers to the extent of QR73.82mn compared with net buyers of QR4.41mn on January 11.
The Arab funds continued to have no major net exposure.
Total trade volume in the main market rose 12% to 148.53mn shares, value by 41% to QR618.47mn and transactions by 61% to 13,283.
The telecom sector’s volume grew about 10-fold to 11.64mn equities and value by about six-fold to QR30.38mn on more than tripled deals to 848.
The consumer goods and services sector’s trade volume more than doubled to 29.7mn stocks and value almost doubled to QR44.13mn on 72% increase in transactions to 1,198.
The industrials sector reported a 5% expansion in trade volume to 43.81mn shares, 19% in value to QR118.99mn and 37% in deals to 2,766.
The banks and financial services sector’s trade volume was up 5% to 39.54mn equities, value by 71% to 353.31mn and transactions by 72% to 6,759.
However, the market witnessed a 61% plunge in the insurance sector’s trade volume to 3.17mn stocks and 79% in value to QR8.09mn but on 82% growth in deals to 138.
The real estate sector’s trade volume tanked 35% to 13.19mn shares and value by 13% to QR27.66mn, while transactions expanded 14% to 1,008.
There was a 14% shrinkage in the transport sector’s trade volume to 7.48mn equities but on a 10% jump in value to QR35.91mn and 50% in deals to 566.
In the venture market, volume soared 90.88% to 370,866 stocks and value more than doubled to QR2.45mn and transactions also more than doubled to 202.