The 20-stock Qatar Index yesterday shot up 0.86% to 11,855.87 points amid higher overall trade volumes

By Santhosh V Perumal
Business Reporter

The Qatar Stock Exchange yesterday opened the week strong with its key index gaining more than 101 points to surpass the 11,800 mark with ease.
Buying was more pronounced at the telecom and industrials counters as the 20-stock Qatar Index shot up 0.86% to 11,855.87 points on higher overall trade volumes.
Foreign institutions continued to be bullish, but with lesser vigour, in the market, which is however down 3.5% year-to-date.
Lower selling pressure from domestic institutions as well as higher buying support from Gulf institutions, amidst lower exposure, helped sustain the bullish momentum on the bourse, where trading was largely skewed towards the telecom, realty, industrials and banking sectors, which together constituted more than 90% of the trading volume.
Market capitalisation soared 0.84% or more than QR5bn to QR621.64bn.
The Total Return Index rose 0.86% to 18,428.25 points, the All Share Index by 0.78% to 3,148.33 points and the Al Rayan Islamic Index by 1.14% to 4,504.25 points.
Telecom equities soared 2.21%, followed by industrials (1.66%), realty (0.7%), consumer goods (0.57%), banks and financial services (0.5%) and transport (012%), while insurance fell 0.56%.
About 67% of the traded stocks extended gains with major movers being Vodafone Qatar, Gulf International Services, Industries Qatar, Qatari Investors Group, Aamal Company, Mesaieed Petrochemical Holding, Barwa, Mazaya Qatar, Qatar Islamic Bank, QIIB, Masraf Al Rayan, Dlala, QNB, Industries Qatar, Aamal Company and Nakilat; even as Gulf Warehousing and Mannai Corporation bucked the trend.
Non-Qatari institutions’ net buying strengthened to QR10.87mn compared to QR2.52mn on October 8.
Domestic institutions’ net profit-booking considerably weakened to QR7.98mn against QR22.81mn last Thursday.
Non-Qatari individual investors’ net selling declined to QR3.51mn compared to QR6.92mn the previous trading day.
However, local retail investors’ net buying shrank to QR4.18mn against QR17.35mn on October 8.
Gulf Cooperation Council (GCC) individual investors’ net selling increased to QR9.03mn compared to QR6.7mn last Thursday.
GCC institutions’ net buying weakened to QR8.27mn against QR16.61mn the previous trading day.
Total trade volume grew 79% to 13.62mn shares, value by 76% to QR417.89mn and deals by 30% to 5,136.
The telecom sector’s trade volume more than quadrupled to QR5.38mn equities and value more than tripled to QR84.52mn on more-than-doubled-transactions to 930.
The banks and financial services sector’s trade volume more than doubled to 1.98mn stocks and value also more than doubled to QR101.19mn on a 50% expansion in deals to 1,058.
The consumer goods sector’s trade volume more than doubled to 0.94mn shares, but value shrank 3% to QR21.97mn. Transactions rose 25% to 369.
The industrials sector’s trade volume more than doubled to 1.99mn equities and value also more than doubled to QR115.9mn on a 14% jump in deals to 1,552.
The insurance sector’s trade volume doubled to 0.02mn stocks and value almost doubled to QR1.18mn on a 22% surge in deals to 22.
However, the transport sector saw a 49% plunge in trade volume to 0.39mn shares, 31% in value to QR16.49mn and 30% in transactions to 291.
There was an 18% decline in the real estate sector’s trade volume to 2.91mn equities and 4% in value to QR76.64mn but on a 15% increase in deals to 914.
In the debt market, there was no trading of treasury bills and government bonds.