Banking, real estate, telecom and insurance counters saw higher-than-average demand, leading the 20-stock Qatar Index surge 1.35% to 10,300.92 points, which is up 20.85% year-to-date.
Market capitalisation expanded about QR13bn or 2.27% to QR580.5bn, mainly owing to heavy demand, especially for large cap equities.
However, local retail investors were increasingly net sellers and domestic funds turned bearish in the market, where Islamic stocks were seen gaining slower than the other indices.
Doha Bank sponsored exchange traded fund QETF witnessed 0.94% gains; while Masraf Al Rayan sponsored QATR declined 1.26%.
Trade turnover and volumes were on expansion on the bourse, where banking and industrials sectors together accounted for more than 58% of the total volume.
The Total Return Index gained 1.35% to 18,149.07 points, All Share Index by 1.95% to 3,044.12 points and Al Rayan Islamic Index (Price) by 0.49% to 2,401.3 points.
The banks and financial services index soared 3.16%, realty (2.58%), telecom (1.93%), insurance (1.64%) and industrials (0.47%); while transport and consumer goods declined 1.51% and 0.21% respectively.
More than 51% of the traded stocks extended gains with major movers being QNB, Ezdan, Ooredoo, Qatar Islamic Bank, Qatar Insurance, Salam International Investment, Qatari Investors Group and Qatar Electricity and Water; even as Gulf International Services, Milaha, Nakilat, Gulf Warehousing, QIIB, Dlala and Qatar Oman Investment were among the losers.
Non-Qatari funds’ net buying increased significantly to QR75.09mn compared to QR42.62mn the previous day.
The Gulf institutions’ net buying strengthened considerably to QR21.91mn against QR1.17mn on October 30.
However, local individuals’ net selling expanded substantially to QR86.3mn compared to QR61.16mn on Tuesday.
Domestic funds turned net sellers to the tune of QR7.72mn against net buyers of QR13.52mn the previous day.
Non-Qatari individuals were also net sellers to the extent of QR3.3mn compared with net buyers of QR2.16mn on October 30.
The Gulf individual investors’ net buying weakened perceptibly to QR0.3mn against QR1.71mn on Tuesday.
Total trade volume rose 10% to 7.31mn shares and value by 47% to QR329.9mn, while transactions were down 3% to 3,750.
The industrials sector’s trade volume soared 78% to 1.57mn equities and value more than tripled to QR83.9mn on 40% jump in deals to 958.
The telecom sector reported 74% surge in trade volume to 1.06mn stocks to more than double value to QR26.32mn on 22% increase in transactions to 394.
The insurance sector’s trade volume shot up 41% to 0.24mn shares, value by 43% to QR8.88mn and deals by 86% at 117.
There was 18% expansion in the real estate sector’s trade volume to 1.2mn equities and 20% in value to QR17.16mn but on 21% decline in transactions to 423.
However, the consumer goods sector’s trade volume plummeted 53% to 0.14mn stocks, value by 34% to QR12.91mn and deals by 25% to 237.
The banks and financial services sector saw 16% plunge in trade volume to 2.71mn shares but on 29% increase in value to QR170.66mn despite 17% lower deals at 1,345.
The transport sector’s trade volume was down 9% to 0.4mn shares, value by 21% to QR10.08mn and transactions by 17% to 276.
In the debt market, there was no trading of treasury bills and sovereign bonds.
Business / Business
QSE surpasses 10,300 levels on increased buying interests of foreign and Gulf institutions
Increased buying interests of foreign and Gulf institutions Wednesday handed a 138 points jump to the Qatar Stock Exchange, which surpassed 10,300 levels.
