Most active stocks by volume made robust gains on Sunday, leading the Qatar Stock Exchange open the week on a stronger note, albeit at lower level.
Realty, telecom and banking counters witnessed higher demand as the 20-stock Qatar Index gained 0.2%, or 19 points, to 9,734.18 points, with investors pinning hopes on a production cut deal later this week at the Organisation of the Petroleum Exporting Countries meeting in Vienna. The market’s year-to-date losses are at 6.67%.
Domestic institutions turned bullish and there was lower selling pressure from local retail investors on the bourse, where losers, however, outnumbered gainers by a thin margin.
Trade turnover was on the decline amidst higher volumes on the market, where banking and telecom sectors together accounted for about 70% of the total volume.
Islamic stocks were rather flat compared to gains in the conventional ones on the bourse, where foreign institutions turned bearish and there was weakened buying support from their Gulf counterparts.
Market capitalisation was up QR0.4mn, or 0.08%, to QR525.28bn, mainly on 0.24% gain in large cap equities. However, small, micro and midcaps lost 1.34%, 0.23% and 0.17% respectively.
The Total Return Index rose 0.2% to 15,749.25 points and All Share Index by 0.05% to 2,684.54 points, while Al Rayan Islamic Index was almost unchanged at 3,583.15 points.
Real estate sector saw its index gain 0.92%, transport (0.39%), banks and financial services (0.2%) and transport (0.08%), while insurance, consumer goods and industrials fell 1.12%, 0.64% and 0.4% respectively.
Major gainers included Barwa, Vodafone Qatar, Gulf Warehousing, Commercial Bank, Qatar Islamic Bank, QNB, Masraf Al Rayan, Ezdan and Mazaya Qatar; even as Industries Qatar, Aamal Company, Qatari Investors Group, Al Khaliji, Dlala, Medicare Group, Nakilat and Qatar Insurance saw their stocks lose sheen.
Domestic institutions turned net buyers to the tune of QR4.35mn compared with net sellers of QR4.07mn on November 24.
Local retail investors’ net profit booking weakened to QR4.28mn against QR10.4mn the previous trading day.
The GCC (Gulf Cooperation Council) individual investors’ net buying rose to QR0.63mn compared to QR0.26mn last Thursday.
Non-Qatari individual investors’ net profit booking fell to QR0.18mn against QR0.37mn on November 24.
However, non-Qatari institutions turned net sellers to the extent of QR1.83mn compared with net buyers of QR0.06mn the previous trading day.
The GCC institutions’ net buying declined perceptibly to QR1.3mn against QR14.96mn last Thursday.
Total trade volume rose 14% to 4.93mn shares but value fell 8% to QR139.81mn and deals by 35% to 1,688.
The insurance sector’s trade volume more than doubled to 0.09mn equities and value gained 11% to QR3.52mn but on 41% decline in transactions to 52.
The real estate sector reported 59% surge in trade volume to 0.7mn stocks and 72% in value to QR15.3mn but on 11% fall in deals to 263.
The banks and financial services sector’s trade volume soared 40% to 1.91mn shares, while value shrank 9% to QR58.28mn and transactions by 48% to 455.
There was 34% expansion in the telecom sector’s trade volume to 1.53mn equities and 38% in value to QR21.91mn but on 19% decline in deals to 232.
The industrials sector’s trade volume increased 29% to 0.22mn stocks and value by 1% to QR12.93mn; whereas transactions were down 17% to 212.
However, the market witnessed 83% plunge in the transport sector’s trade volume to 0.14mn shares, 80% in value to QR4.61mn and 74% in deals to 87.
The consumer goods sector’s trade volume was down 8% to 0.33mn equities, value by 5% to QR23.26mn and transactions by 13% to 387.
In the debt market, there was no trading of treasury bills and government bonds.
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