Qatar Stock Exchange continued to gain for the second day, albeit at low levels, but failed to break the 10,000 resistance level, despite stronger bullish outlook of foreign institutions.

Strong buying interests in transport, telecom and realty sectors notwithstanding, the 20-stock Qatar Index added mere 12 points or 0.12% to 9,989.29 points.

Small cap equities saw higher demand from investors in the bourse, whose year-to-date losses were at 4.22%.

Trade turnover rose amid lower volumes in the market, where real estate, banking and telecom sectors together accounted for more than 65% of the total volume.

Islamic stocks gained faster than the conventional ones in the bourse, where net selling by domestic and Gulf institutions as well as local and Gulf retail investors however strengthened.

Market capitalisation gained QR73mn or 0.14% to QR537.01bn as small, micro and large cap equities added 1.44%, 0.25% and 0.2% respectively, while midcaps were down 0.03%.

The Total Return Index rose 0.12% to 16,162 points, All Share Index by 0.19% to 2,749.7 points and Al Rayan Islamic Index by 0.44% to 3,711.62 points.

Transport sector saw its index gain 0.62%, telecom (0.36%), realty (0.24%), consumer goods (0.23%), banks and financial services (0.22%) and insurance (0.17%); while industrials fell 0.09%.

About 55% of the traded stocks extended gains with major movers being Gulf Warehousing, Ooredoo, Mazaya Qatar, United Development Company, Masraf Al Rayan, Qatar Islamic Bank, Qatar First Bank, Alijarah Holding, Al Meera, Qatar Electricity and Water and Aamal Company.

Nevertheless, Industries Qatar, Gulf International Services, Vodafone Qatar, Barwa, Qatari Investors Group, Medicare Group, Islamic Holding Group and QIIB saw their stocks were among the losers.

Non-Qatari institutions’ net buying strengthened considerably to QR41.04mn compared to QR21.19mn on December 6.

However, the GCC (Gulf Cooperation Council) institutions’ net selling increased to QR9.65mn against QR2.62mn on Tuesday.

Domestic institutions’ net buying weakened to QR0.91mn compared to QR9.27mn the previous day.

Local retail investors’ net profit booking rose marginally to QR28.47mn against QR27.01mn on December 6.

Non-Qatari individual investors’ net selling increased perceptibly to QR3.2mn compared to QR0.52mn on Tuesday.

The GCC individual investors’ net profit booking strengthened to QR0.67mn against QR0.29mn the previous day.

Total trade volume fell 17% to 6.41mn shares, while value rose 3% to QR197.41mn. Deals shrank 12% to 2,536.

There was 77% plunge in the consumer goods sector’s trade volume to 0.1mn equities, 18% in value to QR9.77mn and 30% in transactions to 159.

The telecom sector’s trade volume plummeted 66% to 1.21mn stocks, value by 60% to QR16.23mn and deals by 54% to 225.

The banks and financial services sector saw 16% decline in trade volume to 1.29mn shares, 29% in value to QR44mn and 20% in transactions to 630.

However, the insurance sector’s trade volume grew more than five-fold to 0.51mn equities and value also by more than five-fold to QR41.19mn on 37% jump in deals to 107.

The transport sector’s trade volume grew five-fold to 0.95mn stocks and value more than quadrupled to QR27.58mn on 48% increase in transactions to 299.

The industrials sector’s trade volume soared 51% to 0.68mn stocks but value fell less than 1% to QR31.88mn. Deals rose 10% to 540.

The market witnessed 14% expansion in the real estate sector’s trade volume to 1.67mn equities but on 15% decline in value to QR26.76mn and 5% in transactions to 576.

In the debt market, there was no trading of treasury bills and government bonds.

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