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Qatar Stock Exchange on Tuesday vaulted 219 points to inch near the 9,900 mark, reflecting the trajectory of global oil price, which stood near eight-month high of more than $51 a barrel.
Foreign institutions were increasingly net buyers as the 20-stock gained 2.27% to 9,857.95 points on more than doubling of trade turnover and volumes.
An across-the-board buying – particularly in the realty and telecom sectors – instilled bullish momentum to the market, which is however down 5.48% year-to-date.
However, domestic institutions turned bearish and there was increased net selling by Gulf individual investors in the bourse, where banking, telecom, real estate and industrials stocks together constituted more than 88% of the total trading volume.
Market capitalisation surged 2.02% or about QR11bn to QR532.79bn as large, micro and midcap cap stocks gained 1.94, 1.64% and 1.41% respectively; while small caps were down 0.01%.
The Total Return Index gained 2.27% to 15,949.51 points, All Share Index by 2.05% to 2,751.59 points and Al Rayan Islamic Index by 2.09% to 3,828.74 points.
Realty stocks appreciated 4.6%, telecom (2.72%), banks and financial services (2.07%), industrials (1.13%), consumer goods (0.55%), insurance (0.5%) and transport (0.38%).
More than 85% of the stocks extended gains with major movers being Industries Qatar, Ezdan, Barwa, Mazaya Qatar, Vodafone Qatar, Ooredoo, QNB, Commercial Bank, Masraf Al Rayan, Alijarah Holding, Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding and Widam Food.
Non-Qatari institutions’ net buying increased substantially to QR58.1mn compared to QR29.39mn the previous day.
The GCC (Gulf Cooperation Council) institutions turned net buyers to the tune of QR0.13mn against net sellers of QR4.61mn on June 6.
However, domestic institutions turned net sellers to the extent of QR20.42mn compared with net buyers of QR4.03mn on Monday.
The GCC individual investors’ net profit booking increased perceptibly to QR10.05mn against QR1.55mn the previous day.
Non-Qatari individual investors’ net selling strengthened to QR4.26mn compared to QR2.21mn on June 6.
Local retail investors’ net profit booking weakened to QR23.5mn against QR25.06mn on Monday.
Total trade volume more than doubled to 8.2mn shares and value also more than doubled to QR320.13mn on almost doubled deals to 4,288.
The telecom sector’s trade volume grew almost five-fold to 1.69mn equities and value almost tripled to QR29.37mn on more than doubled transactions to 639.
The transport sector’s trade volume almost tripled to 0.34mn stocks and value more than quadrupled to QR17.13mn on more than doubled deals to 266.
The banks and financial services sector’s trade volume almost tripled to 3.18mn shares and value more than doubled to QR150.09mn on more than doubled transactions to 1,356.
The industrials sector’s trade volume almost tripled to 1.06mn equities and value more than doubled to QR55.97mn on 72% expansion in deals to 780.
The consumer goods sector’s trade volume more than doubled to 0.5mn stocks, value soared 83% to QR29.17mn and transactions by 44% to 425.
The real estate sector’s trade volume surged 83% to 1.3mn shares to more than double value to QR28.94mn on 73% increase in deals to 657.
However, the market witnessed 28% decline in the insurance sector’s trade volume to 0.13mn equities and 21% in value to QR9.44mn but on 85% rise in transactions to 165.
In the debt market, there was no trading of treasury bills and government bonds.
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