The Qatar Stock Exchange on Monday made a huge gain of 127 points to surpass the 10,300 levels on optimism in the global financial markets as another UK-drug manufacturer Astra Zeneca claimed 90% efficiency for its Covid-19 vaccine, jointly developed with the University of Oxford.
Foreign funds were increasingly net buyers and foreign retail investors turned bullish as the 20-stock Qatar Index settled 1.24% higher at 10,329.65 points, although it touched an intraday low of 10,170 points.
Early this month, Pfizer and Moderna had disclosed that their vaccines were found 90% effective.
The real estate, industrials and transport counters witnessed higher than average demand on the market, whose year-to-date losses narrowed to 0.92%.
The Islamic stocks were seen gaining faster than the other indices on the bourse, which saw about 84% of the traded constituents extent gains.
Market capitalisation saw about QR8bn or 1.32% increase to QR595.13bn, mainly owing to large and small cap segments.
A total of 86,168 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued together at QR199,995 changed hands across three deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the increase on the bourse, where the realty and industrials sectors together accounted for about 58% of the total trading volume.
The Total Return Index rose 1.24% to 19,858.42 points, All Share Index by 0.93% to 3,184.47 points and Al Rayan Islamic Index (Price) by 1.45% to 2,338.01 points.
The realty index shot up 2.99%, industrials (1.83%), transport (1.51%), telecom (0.68%), banks and financial services (0.62%) and consumer goods and services (0.34%); whereas insurance declined 0.97%.
Major gainers included Ezdan, Qatari German Medical Devices, Dlala, Investment Holding Group, Commercial Bank, Qatar Islamic Bank, Alijarah Holding, Salam International Investment, Qatar National Cement, Industries Qatar, Aamal Company, Gulf International Services, Qatar Electricity and Water, Qamco, Mazaya Qatar and Nakilat; even as Medicare Group, Qatar Insurance, QNB, Doha Bank and Mannai Corporation were among the losers.
Foreign funds’ net buying increased significantly to QR56.08mn compared to QR34.97mn on November 22.
Foreign individuals turned net buyers to the tune of QR7.75mn against net sellers of QR1.35mn on Sunday.
The Arab individuals’ net profit booking eased notably to QR7.9mn compared to QR11.43mn the previous day.
However, Qatari investors’ net selling strengthened considerably to QR50.93mn against QR6.44mn on November 22.
Domestic institutions’ net profit booking markedly to QR3.75mn compared to QR2.73mn on Sunday.
The Gulf individuals’ net selling also expanded marginally to QR2.8mn against QR2.24mn the previous day.
The Gulf institutions’ net buying eased perceptibly to QR1.45mn compared to QR5.78mn on November 22.
The Arab institutions continued to have no major exposure.
Total trade volumes rose 79% to 238.6mn shares, value by 61% to QR499.82mn and transactions by 85% to 12,441.
The industrials sector’s trade volume almost quadrupled to 65.45mn equities and value more than quadrupled to QR79.15mn on more than doubled deals to 2,192.
The consumer goods and services sector’s trade volume more than tripled to 32.14mn stocks and value more than doubled to QR45.36mn on more than doubled transactions to 1,158.
The transport sector reported 81% surge in trade volume to 30.71mn shares and 83% in value to QR107.93mn on more than doubled deals to 2,568.
The telecom sector’s trade volume soared 66% to 3.23mn equities, value by 92% to QR14.49mn and transactions by 82% to 659.
The banks and financial services sector saw 36% expansion in trade volume to 31.2mn stocks, 28% in value to QR141.92mn and 46% in deals to 3,351.
The real estate sector’s trade volume was up 25% to 72.92mn shares, 32% in value to QR105mn and 36% in transactions to 2,374.
However, the insurance sector’s trade volume tanked 57% to 2.94mn equities, value by 65% to QR5.98mn and deals by 9% to 139.
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