(MENAFN- Gulf Times) An across-the-board buying — especially in transport, consumer goods and real estate — on Wednesday lifted the Qatar Stock Exchange.
Local retail investors turned bullish and there was increased buying support from domestic funds as the 20-stock Qatar Index settled 0.62% higher at 7,782.18 points.
Non-Qatari individuals' weakened net selling also helped the market, whose year-to-date losses were at 25.43%.
Islamic equities were seen gaining faster than the other indices on the bourse, whose capitalisation added 0.5% to QR420.94bn.
Trade turnover and volumes were on the increase in the market, where industrials, banking and telecom sectors together accounted for about 80% of the total volume.
The Total Return Index gained 0.42% to 13,050.25 points, All Share Index by 0.57% to 2,146.75 points and Al Rayan Islamic Index by 0.89% to 3,058.68 points.
The transport index soared 2.05%, consumer goods (1.13%), realty (1%), industrials (0.66%), banks and financial services (0.27%), telecom (0.27%) and insurance (0.01%).
About 58% of the stocks extended gains with major moves being Commercial Bank, Qatar First Bank, Qatari Investors Group, Mesaieed Petrochemical Holding, Ezdan, Vodafone Qatar, Milaha, Widam Food and Islamic Holding Group; whereas Doha Bank, QIIB, Aamal Company, Gulf International Services, Qatar Insurance and Mazaya Qatar were among the losers.
Local retail investors turned net buyers to the tune of QR17.2mn compared with net sellers of QR0.81mn on November 28.
Domestic institutions' net buying strengthened perceptibly to QR7.57mn against QR3.48mn the previous day.
Non-Qatari individuals' net profit booking fell considerably to QR3.55mn compared to QR11.17mn on Tuesday.
However, the GCC (Gulf Cooperation Council) funds turned net sellers to the extent of QR11.68mn against net buyers of QR5.63mn on November 28.
Non-Qatari institutions were also net sellers to the tune of QR9.14mn compared with net buyers of QR2.2mn the previous day.
The GCC individual investors turned net profit takers to the extent of QR0.42mn against net buyers of QR0.65mn on Tuesday.
Total trade volume grew 93% to 11.82mn shares and value by 37% to QR246.42mn, while deals fell 20% to 3,177.
The industrials sector's trade volume more than tripled to 5.43mn equities and value soared 36% to QR60.78mn but on 28% decline in transactions to 835.
The insurance sector's trade volume more than tripled to 0.64mn stocks and value more than quadrupled to QR21.32mn on mere 10% jump in deals to 109.
The telecom sector's trade volume more than doubled to 1.67mn shares and value gained 39% to QR18.57mn, while transactions shrank 20% to 369.
The banks and financial services sector saw 49% surge in trade volume to 2.35mn equities and 43% in value to QR103.19mn but on 2% fall in deals to 914.
The transport sector's trade volume was up 8% to 0.66mn stocks and value by 61% to QR20.2mn, whereas transactions shrank 21% to 347.
However, there was 38% plunge in the consumer goods sector's trade volume to 0.18mn shares, 31% in value to QR11.61mn and 10% in deals to 282.
The real estate sector's trade volume plummeted 22% to 0.9mn equities, value by 33% to QR10.76mn transactions by 45% to 321.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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