The Qatar Stock Exchange on Tuesday overcame selling pressure from local retail investors as it settled marginally higher amidst lower trade turnover.
Insurance, consumer goods and banking counters witnessed stronger demand amidst a 0.1% rise in the 20-stock Qatar Index to 9,449.64 points.
Masraf Al Rayan sponsored exchange traded fund QATR saw 0.94% gains.
Islamic stocks were seen outperforming the other indices on the market, which reported 10.87% gains year-to-date.
Domestic funds turned bullish and there was weakened net selling by Gulf institutions and non-Qatari individuals on the bourse, whose capitalisation was up 0.03% to QR515.35bn with small, mid and large caps witnessing gains.
Trade turnover shrank amidst higher volumes in the market, where transport, telecom and banking sectors together accounted for about 70% of the total volume.
The Total Return Index rose 0.1% to 16,649.22 points, All Share Index by 0.07% to 2,723.18 points and Al Rayan Islamic Index (Price) by 0.23% to 2,318.01 points.
The insurance index gained 1.5%, consumer goods (0.81%) and banks and financial services (0.2%); while realty declined 0.41%, industrials (0.38%), transport (0.21%) and telecom (0.01%).
Major gainers included Qatar Insurance, Milaha, Masraf Al Rayan, Gulf International Services, Zad Holding and Al Meera; even as Commercial Bank, Alijarah Holding, Dlala, Industries Qatar, Ezdan, Qatari Investors Group and Nakilat were among the losers.
Domestic institutions turned net buyers to the tune of QR17.42mn compared with net sellers of QR16.3mn the previous day.
Non-Qatari individual investors’ net selling weakened substantially to QR1.62mn against QR8mn on July 16.
The Gulf institutions’ net profit booking declined considerably to QR2.17mn compared to QR4.42mn on Monday.
Local individual investors’ net selling fell marginally to QR36.13mn against QR36.48mn the previous day.
However, non-Qatari institutions’ net buying weakened significantly to QR22.51mn compared to QR65.7mn on July 16.
Total trade volume rose 3% to 7.69mn shares, while value fell 13% to QR190.16mn despite 7% higher transactions at 3,259.
The transport sector’s trade volume more than quadrupled to 2.15mn equities and value more than tripled to QR36mn on 54% growth in deals to 378.
The consumer goods sector’s trade volume almost quadrupled to 0.75mn stocks and value more than doubled to QR41.13mn on 85% increase in transactions to 447.
The banks and financial services sector’s trade volume was up 7% to 1.36mn shares, whereas value shrank 38% to QR48.41mn despite 1% higher deals at 923.
However, the telecom sector reported 47% plunge in trade volume to 1.87mn equities, 43% in value to QR21.72mn and 29% in transactions to 312.
The real estate sector’s trade volume plummeted 28% to 0.61mn stocks and value by 18% to QR9.95mn, while deals increased 15% to 360.
The insurance sector saw 18% shrinkage in trade volume to 0.32mn shares and 19% in value to QR11.29mn but on 23% expansion in transactions to 189.
The industrials sector’s trade volume tanked 17% to 0.62mn equities, value by 52% to QR21.65mn and deals by 14% to 650.
In the debt market, there was no trading of treasury bills and sovereign bonds.