Qatar Stock Exchange on Tuesday witnessed strong buying interests especially in insurance and consumer goods; yet it settled in the negative for the second consecutive day.
Notwithstanding the bullish outlook of domestic funds and the increased buying interests of foreign funds, the 20-stock Qatar Index lost another 0.51% to 7,768.52 points.
However, local retail investors and Gulf institutions turned bearish on the market, whose year-to-date losses were at 25.57%.
Islamic equities were seen declining slower on the bourse, whose capitalisation shrank 0.23% to QR416.43bn.
Trade turnover and volumes were on the increase in the market, where banking, telecom and industrials sectors together accounted for more than 74% of the total volume.
The Total Return Index shrank 0.51% to 13,027.35 points and Al Rayan Islamic Index by 0.02% to 2,909.19 points, while All Share Index was up 0.02% to 2,116.06 points.
The insurance index soared 3.48%, consumer goods (1.47%), banks and financial services (0.37%) and industrials (0.03%); whereas telecom declined 5.66%, transport (1.14%) and realty (0.35%).
Major gainers included Qatar Insurance, Qatar General and Reinsurance, Commercial Bank, QNB, QIIB, Qatar National Cement, Gulf International Services, Qatari Investors Group and Vodafone Qatar; while Ooredoo, Qatar Oman Investment, Nakilat, Barwa, Mazaya Qatar, Qatar Electricity and Water, Aamal Company, Qatar Oman Investment and Salam International Investment were among the losers.
Non-Qatari institutions’ net buying strengthened considerably to QR33.71mn compared to QR6.2mn on November 20.
Domestic institutions were net buyers to the tune of QR2.59mn against net sellers of QR8.59mn the previous day.
However, the GCC (Gulf Cooperation Council) funds turned net sellers to the extent of QR17.48mn compared with net buyers of QR1.05mn on Monday.
Non-Qatari individual investors’ net profit booking increased substantially to QR10.1mn against QR3.07mn on November 20.
Local retail investors turned net sellers to the tune of QR9.11mn compared with net buyers of QR3.8mn the previous day.
The GCC retail investors’ net buying weakened marginally to QR0.43mn against QR0.6mn on Monday.
Total trade volume rose 34% to 8.9mn shares, value by 43% to QR237.88mn and deals by 20% to 3,194.
The insurance sector’s trade volume grew 22-fold to 0.44mn equities and value rose about 10-fold to QR8.12mn on more than quadrupled transactions to 169.
The telecom sector’s trade volume more than doubled to 1.68mn stocks, value soared 59% to QR18.92mn and deals by 21% to 279.
There was 76% surge in the transport sector’s trade volume to 0.79mn shares to see more than doubled value to QR23.39mn on 41% increase in transactions to 316.
The consumer goods sector’s trade volume expanded 47% to 0.22mn equities, while value fell 27% to QR6.03mn but on 15% higher deals to 268.
The real estate sector reported 43% increase in trade volume to 0.86mn shares, 36% in value to QR9.67mn and 18% in transactions to 490.
The banks and financial services sector’s trade volume shot up 28% to 3.45mn shares, value by 55% to QR130.26mn and deals by 21% to 1,115.
However, the market witnessed 25% plunge in the industrials sector’s trade volume to 1.47mn equities, 4% in value to QR41.5mn and 8% in transactions to 557.
In the debt market, there was no trading of sovereign bonds but as many as 10,000 treasury bills valued at QR99.9mn changed hands across eight deals.