The Qatar Stock Exchange Wednesday saw about 74% of the traded constituents extend gains, thus propelling its key barometer near the 12,750 levels.
A higher than average demand in the telecom, insurance, consumer goods and real estate counters led the 20-stock Qatar Index settle 32 points or 0.25% higher at 12,746.1 points, recovering from an intraday low of 12,709 points.
The Arab individuals turned net buyers in the market, whose year-to-date gains were at 9.64%.
The Gulf institutions were also seen bullish in the bourse, whose capitalisation saw more than QR3bn or 0.49% increase to QR726bn, mainly on the back of mid and small cap segments.
The Gulf retail investors were increasingly net buyers in the market, where the industrials and banking sectors together accounted for more than 60% of the trading volume.
The weakened net selling pressure from the local retail investors in the bourse, which saw a total of 68,398 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR796,186 changed hands across 13 deals.
The Islamic index was seen gaining faster than the main barometer in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the increase in the bourse, which saw no trading of treasury bills.
The Total Return Index was up 0.25% to 25,328.77 points, Al Rayan Islamic Index (Price) by 0.6% to 2,838.49 points and All Share Index by 0.38% to 4,013.21 points.
The telecoms sector index surged 2.14%, insurance (1.33%), consumer goods and services (0.91%), realty (0.83%), transport (0.31%), industrials (0.3%) and banks and financial services (0.15%).
Major movers in the main market included Mannai Corporation, Inma Holding, Dlala, Investment Holding Group, Doha Bank, Alijarah Holding, Qatari German Medical Devices, Salam International Investment, Qatari Investors Group, Aamal Company, Gulf International Services, Qatar Insurance, Al Khaleej Takaful, Ezdan, Ooredoo and Milaha. In the venture market, Mekdam Holding saw its shares appreciate in value.
Nevertheless, Qatar General Insurance and Reinsurance, Nakilat, Qatar National Cement, Qatar Electricity and Water and Commercial Bank were among the losers in the main market.
The Arab individuals turned net buyers to the tune of QR9.8mn compared with net sellers of QR4.28mn on February 15.
The Gulf institutions were net buyers to the extent of QR4.26mn against net sellers of QR11.98 the previous day.
The Gulf individuals’ net buying expanded markedly to QR2.97mn compared to QR0.63mn on Tuesday.
Qatari individuals’ net selling declined noticeably to QR30.46mn against QR58.78mn on February 15.
However, the domestic funds’ net profit booking grew noticeably to QR142.1mn compared to QR112.05mn the previous day.
The foreign individuals turned net sellers to the tune of QR5.72mn against net buyers of QR6.34mn on Tuesday.
The foreign institutions’ net buying decreased notably to QR161.25mn compared to QR180.08mn on February 15.
The Arab institutions had no major net exposure against net buyers of QR0.04mn the previous day.
Total trade volume in the main market rose 76% to 270.44mn shares, value by 48% to QR849.28mn and transactions by 58% to 21,250.
The real estate sector’s trade volume more than doubled to 44.55mn equities and value almost tripled to QR86.16mn on almost tripled deals to 2,257.
The industrials sector’s trade volume more than doubled to 104.31mn stocks, value soared 83% to QR251.17mn and transactions by 75% to 5,445.
The banks and financial services sector’s trade volume more than doubled to 58.69mn shares, value gained 10% to QR296.66mn and deals by 36% to 7,878.
The insurance sector reported 84% surge in trade volume to 5.33mn equities and value almost doubled to QR16.99mn on almost tripled transactions to 709.
The transport sector’s trade volume zoomed 58% to 9.25mn stocks, value by 60% to QR49.74mn and deals by 36% to 1,640.
There was 43% expansion in the telecom sector’s volume to 8.3mn shares, 46% in value to QR43.07mn and 37% in transactions to 1,582.
However, the consumer goods and services sector’s trade volume shrank 4% to 40mn equities, whereas value shot up 54% to QR105.49mn and deals by 53% to 1,739.
In the venture market, volumes were seen rising 3.03% to 1.02mn stocks and value by 5.78% to QR9.34mn but on 17.95% contraction in transactions to 416.