Local retail investors on Monday extended strong buying support to the Qatar Stock Exchange, whose key index settled near 9,100 points.
The real estate counters witnessed robust demand amid a 1.29% fall in the 20-stock Qatar Index to 9,069.34 points.
Overcoming the weak run in the first 60 minutes, the market then rebounded for the next 15 minutes but only to see gradual weakening for the next 60 minutes. Thereafter, there was some buying support but weakened at the closing.
Islamic stocks were seen declining slower than the main index on the bourse, whose year-to-date losses were at 13.1%.
The weakened net selling by foreign institutions was visible in the market, where capitalisation stood at QR490bn.
Trade turnover rose amidst lower volumes on the bourse, where realty, banking and telecom sectors together accounted for about 80% of the total volumes.
The Total Return Index was at 15,208.74 points, All Share Index at 2,587.23 points and Al Rayan Islamic Index at 3,629.58 points.
The real estate index soared 1.76%, whereas telecom declined 2.6%, industrials (1.7%), insurance (1.35%), banks and financial services (1.17%), consumer goods (0.92%) and transport (0.22%).
Major gainers included Ezdan, Aamal Company, Qatar Oman Investment, Commercial Bank and Alijarah Holding; even as Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Nakilat, QNB, Qatar Islamic Bank, Ooredoo, Vodafone Qatar and Woqod were among the losers.
Local retail investors turned net buyers to the tune of QR30.3mn compared with net sellers of QR10.34mn on Sunday.
Non-Qatari institutions’ net profit booking weakened perceptibly to QR28.88mn against QR33.08mn on June 18.
However, domestic institutions’ net buying weakened considerably to QR19.71mn compared to QR48.68mn the previous day.
Non-Qatari retail investors’ net buying declined marginally to QR3.03mn against QR4.54mn on Sunday.
The GCC (Gulf Cooperation Council) funds’ net selling strengthened to QR22.3mn compared to QR9.06mn on June 18.
The GCC individuals’ net profit booking increased to QR1.86mn against QR0.77mn the previous day.
Total trade volumes fell 10% to 8.85mn shares, while value rose 1% to QR220.98mn despite 10% increase in deals to 3,217.
There was 60% plunge in the telecom sector’s trade volume to 1.07mn equities, 47% in value to QR16.81mn and 18% in transactions to 321.
The banks and financial services sector’s trade volume plummeted 56% to 1.87mn stocks, value by 26% to QR74.99mn and deals by 6% to 1,185.
The insurance sector reported 43% shrinkage in trade volume to 0.04mn shares and 31% in value to QR2.92mn but on 4% rise in transactions to 52.
The consumer goods sector’s trade volume tanked 27% to 0.24mn equities, while value gained 22% to QR17.32mn and deals by 25% to 301.
However, the real estate sector’s trade volume more than doubled to 4.11mn stocks, value soared 87% to QR59.22mn and transactions by 48% to 665.
The industrials sector saw 77% surge in trade volume to 1.06mn shares, value by 78% to QR39.38mn and deals by 19% to 497.
The transport sector’s trade volume expanded 48% to 0.46mn equities, whereas value shrank 26% to QR10.33mn despite 70% increase in transactions to 196.
In the debt market, there was no trading of treasury bills and government bonds.