The Qatar Stock Exchange Sunday opened the week on a stronger note and its key barometer surpassed the 12,400 levels with ease, buoyed by expectations of positive corporate earnings.
An across the board buying – particularly in telecom, real estate and banking counters – lifted the 20-stock Qatar Index by more than 115 points or 0.94% to 12,433.53 points, recovering from an intraday low of 12,318 points.
The Gulf and domestic institutions were seen bullish in the market, whose year-to-date gains swelled further to 6.95%.
About 74% of the traded constituents extended gains to investors in the bourse, whose capitalisation gained about QR9bn or 1.26% to QR709.09bn, mainly on the back of mid and small cap segments.
The Islamic index was seen gaining faster than the conventional indices in the market, where the consumer goods, realty and industrials accounted for about three-fourth of the trading volume.
The Arab retail investors were seen bullish in the main market, which saw a total of 129,027 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR1.47mn trade across 24 deals.
The Total Return Index gained 0.94% to 24,612.92 points, the All Share Index by 0.94% to 3,918.1 points and the Al Rayan Islamic Index (Price) by 0.95% to 2,745.95 points in the market, which saw no trading of sovereign bonds and treasury bills.
The telecom sector index shot up 1.28%, followed by real estate (1.27%), banks and financial services (1.08%), industrials (0.9%), transport (0.66%), consumer goods and services (0.29%) and insurance (0.11%).
Major gainers in the main market included Ezdan, Salam International Investment, Qatar Oman Investment, Qatar Islamic Insurance, Gulf International Services, QNB, Qatar Islamic Bank, Masraf Al Rayan, Alijarah Holding, Mannai Corporation, Baladna, Industries Qatar, Investment Holding Group, Mazaya Qatar and Ooredoo.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their stocks appreciate in value.
Mesaieed Petrochemical Holding, QLM, Al Khaleej Takaful, QII and Qatar First Bank were among the losers in the main market.
The Gulf funds were net buyers to the tune of QR28.5mn compared with net sellers of QR1.52mn on January 13.
The domestic funds turned net buyers to the extent of QR13.92mn against net sellers of QR225.64mn last Thursday.
The Arab individuals were net buyers to the tune of QR11.51mn compared with net sellers of QR8.25mn the previous day.
The foreign individuals turned net buyers to the extent of QR5.69mn against net sellers of QR2.28mn on January 13.
The Gulf individuals were net buyers to the tune of QR0.9mn compared with net sellers of QR1.91mn last Thursday.
Qatari individuals’ net profit booking declined markedly to QR70.9mn against QR102.61mn the previous day.
However, the foreign funds’ net buying weakened substantially to QR10.38mn compared to QR342.21mn on January 13.
The Arab funds continued to have no major net exposure.
Total trade volume in the main market rose 13% to 230.47mn shares, while value fell 30% to QR575.74mn and transactions by 7% to 13,262.
The insurance sector’s trade volume more than tripled to 3.85mn equities and value also more than tripled to QR11.94mn on more-than-doubled deals to 175.
The real estate sector’s trade volume more than doubled to 57.82mn stocks, value soared 76% to QR81.76mn and transactions by 30% to 1,668.
The telecom sector’s volume expanded 87% to 7.38mn shares and value almost tripled to QR40.61mn on 85% jump in deals to 906.
There was a 47% surge in the transport sector’s trade volume to 7.72mn equities, 48% in value to QR40mn and 18% in transactions to 447.
The consumer goods and services sector’s trade volume zoomed 37% to 58.71mn stocks, value by 44% to QR78.31mn and deals 18% to 1,449.
However, the banks and financial services sector saw 33% plunge in trade volume to 39.03mn shares64% in value to QR181.22mn and 26% in transactions to 5,255.
The industrials sector’s trade volume tanked 13% to 55.95mn equities, value by 19% to QR142.49mn and deals by 11% to 3,362.
In the venture market, volume shot up 33.13% to 250,951 stocks, value by 23.26% to QR1.59mn and transactions by 92.3% to 125.