The Qatar Stock Exchange yesterday opened the week on a stronger note with its key index surging 109 points to inch towards 10,350 points on an across the board buying, especially in the industrials sector.
The domestic institutions were increasingly net buyers as the 20-stock Qatar Index gained 1.06% to 10,346.43 points.
The Arab individuals were seen bullish in the main market, whose year-to-date losses truncated further to 3.13%.
As much as 74% of the traded constituents extended gains in the main bourse, whose capitalisation added QR5.39bn or 0.89% to QR608.37bn with mid and large cap segments gaining the most.
The foreign retail investors were increasingly net buyers in the main market, which recovered from an intraday low of 10,230 points.
The Gulf individual investors turned bullish, albeit at lower levels, in the main bourse, which saw a total of 0.13mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.58mn changed hands across 26 deals.
The foreign funds continued to be net buyers but with lesser intensity in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen outperforming the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index rose 1.06%, the All Share Index by 0.89% and the Al Rayan Islamic Index (Price) by 1.15% in the main bourse, whose trade turnover and volumes were on the increase.
The industrials sector index shot up 1.93%, banks and financial services (0.71%), transport (0.62%), real estate (0.45%), insurance (0.3%), telecom (0.19%) and consumer goods and services (0.12%).
Major movers in the main market included Lesha Bank, Masraf Al Rayan, Industries Qatar, Mesaieed Petrochemical Holding, Qatar Islamic Insurance, Qatari Investors Group, Mazaya Qatar, Alijarah Holding, Qatar Islamic Bank and Medicare Group. In the venture market, Mahhar Holding saw its shares appreciate in value.
Nevertheless, Zad Holding, Qatar National Cement, Commercial Bank, Inma Holding, Widam Food and Vodafone Qatar were among the shakers in the main market.
The domestic institutions’ net buying increased considerably to QR16.59mn compared to QR8.72mn on September 7.
The Arab retail investors turned net buyers to the tune of QR8.16mn against net sellers of QR14.69mn last Thursday.
The foreign individuals’ net buying grew noticeably to QR1.49mn compared to QR0.56mn the previous trading day.
The Gulf retail investors were net buyers to the extent of QR0.9mn against net profit takers of QR0.1mn on September 7.
However, the local individuals’ net selling expanded perceptibly to QR37.14mn compared to QR35.54mn last Thursday.
The Arab institutions turned net sellers to the tune of QR0.08mn against no major net exposure the previous seven sessions.
The foreign institutions’ weakened significantly to QR5.3mn compared to QR23.88mn on September 7.
The Gulf institutions’ net buying also decreased markedly to QR4.77mn against QR17.18mn last Thursday.
Trade volumes in the main market rose 12% to 246.02mn shares and value by 5% to QR578.97mn, while deals were down 19% to 16,244.
The venture market saw a 10% contraction in trade volumes to 0.44mn equities, 10% in value to QR0.93mn and 5% in transactions to 74.