The Qatar Exchange yesterday closed above the key 9,000-point level after making its largest one-day gain in three weeks.
Opening the week on a stronger note, the key index saw strong buying, especially in realty, transport and banking stocks.
Both domestic and foreign institutions imparted bullish momentum to the 20-stock Qatar Index (based on price data), which settled 1.04% higher at a new two-year high of 9,009.43 points.
However, local retail investors were seen hurriedly squaring off their position in the market, which is up 7.78% year-to-date (YTD) but still way below the performance of Dubai, Abu Dhabi and Kuwait bourses.
More than 64% of the stocks extended gains with major movers being Barwa, Gulf International Services, QNB, Nakilat, Milaha, Qatari Investors Group, United Development Company (UDC) and International Islamic; even as Industries Qatar bucked the trend.
The 20-stock Total Return Index also gained 1.04% to 12,872.41 points, All Share Index (comprising wider constituents) by 0.9% to 2,290.80 points and Al Rayan Islamic Index by 0.94% to 2,728.28 points. All the three indices factored in dividend income as well.
Under the All Share Index category, the real estate index expanded 2.8%, followed by transport (1.38%), banks and financial services (1.28%), insurance (0.78%), industrials (0.31%), consumer goods (0.04%) and telecom (0.03%).
Market capitalisation surged 0.69% or more than QR3bn to QR501.53bn.
Of the 42 stocks, 27 advanced, while only eight declined, four were unchanged and three were not traded.
Domestic institutions turned net buyers to the tune of 9.73% or QR36.63mn. A higher 33.08% of them were into buying against 30.49% the previous trading day, whereas a much lower 23.35% of them into selling compared to 35.51%.
Foreign institutions were also net buyers to the extent of 1.94% or QR7.30mn. A higher 19.25% of them bought equities against 11.93% last Thursday although a higher 17.31% offloaded compared to 14.57%.
However, non-Qatari individual investors turned net sellers to the tune of 0.84% or QR3.16mn. A lower 12% of them bought equities against 15.73% the previous day and a lower 12.84% sold compared to 14.07%.
Qatari individual investors were also net profit takers to the tune of 10.83% or QR40.77mn. A lower 35.67% of them purchased equities against 41.85% last Thursday while a much higher 46.5% sold compared to 35.85%.
Total trading volume gained 48% to 10.96mn shares, value by 54% to QR376.49mn and deals by 47% to 5,383.
The industrials sector's trading volume almost quadrupled to 1.63mn shares and value more than doubled to QR100.50mn on 94% jump in transactions to 1,126.
The telecom sector's trading volume more than doubled to 0.57mn shares and value also more than doubled to QR13.62mn on more than doubled deals to 248.
The insurance sector's trading volume more than doubled to 0.23mn shares and value also more than doubled to QR11.68mn on a 23% gain in transactions to 125.
The banks and financial services sector's trading volume more than doubled to 2.40mn shares, value surged 74% to QR88.94mn and deals by 45% to 1,290.
The consumer goods and services sector's trading volume soared 92% to 0.73mn shares, value by 59% to QR35.98mn and transactions by 42% to 500.
The real estate sector's trading volume expanded 33% to 3.21mn shares, value by 55% to QR67.13mn and deals by 55% to 1,303.
However, the transport sector's trading volume shank 21% to 2.20mn shares and value by 23% to QR58.63mn but deals were up 2% to 791.
Actively traded stocks (in terms of volume) were Nakilat (1.78mn shares); Barwa (1.47mn); UDC (1.13mn); Masraf Al Rayan (780,114) and Qatari Investors Group (753,345).
In the debt market, there was no trading of treasury bills.
© Gulf Times 2013
