Lower selling pressure from local and foreign retail investors as well as domestic institutions were primarily seen driving the 20-stock Qatar Index up 0.44% to 10,490.4 points; even as global oil prices kept sliding but held above $41 a barrel.
The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the bourse, which has reported 0.59% gains year-to-date.
Micro and mid cap equities rose the maximum in the market, where trading turnover rose amidst fall in volumes.
However, Gulf institutions turned bearish and there were reduced buying interests from their foreign counterparts in the bourse, where banking, consumer goods, realty and industrials stocks together accounted for more than 89% of the total trading volume.
Market capitalisation expanded 0.57% or more than QR3bn to QR552.83bn with micro, mid, large and small cap equities gaining 1.4%, 1.15%, 0.23% and 0.04% respectively.
The Total Return Index gained 0.44% to 16,802.2 points, All Share Index by 0.7% to 2,867.91 points and Al Rayan Islamic Index by 0.77% to 3,974.48 points.
Consumer goods stocks surged 3.77%, transport (2.76%), real estate (0.79%), industrials (0.62%) and banks and financial services (0.36%); whereas telecom and insurance fell 1.99% and 0.02% respectively.
More than 56%b of the stocks extended gains with movers being Woqod, Industries Qatar, Mesaieed Petrochemical Holding, Aamal Company, Gulf International Services, Ezdan, Barwa, Qatar Islamic Bank, Doha Bank, Nakilat, Milaha and Gulf Warehousing; even as Ooredoo, Vodafone Qatar, Medicare Group and Qatar Oman Investment bucked the trend.
Local retail investors’ net selling weakened to QR8.13mn compared to QR16.87mn the previous day.
Domestic institutions’ net profit booking plummeted to QR19.42mn against QR47.17mn on Monday.
Non-Qatari individual investors’ net selling shrank to QR3.98mn compared to QR8.4mn on March 21.
However, non-Qatari institutions’ net buying weakened perceptibly to QR34.61mn against QR70.46mn the previous day.
The GCC (Gulf Cooperation Council) institutions turned net sellers to the tune of QR0.79mn compared with net buyers of QR2.26mn on Monday.
The GCC individual investors’ net profit booking increased to QR2.32mn against QR0.29mn on March 21.
Total trade volume was down 1% to 9.52mn shares, while value rose 16% to QR415mn and deals by 11% to 5,683.
There was 33% plunge in the telecom sector’s trade volume to 0.6mn equities, 30% in value to QR16.46mn and 13% in transactions to 656.
The industrials sector’s trade volume tanked 31% to 1.31mn stocks and value by 10% to QR65.18mn, while deals were up 6% to 1,128.
The real estate sector saw 6% decline in trade volume to 1.48mn shares, 8% in value to QR30.48mn and 7% in transactions to 668.
However, the consumer goods sector’s trade volume soared 41% to 2.11mn equities, value by 62% to QR96.73mn and deals by 82% to 1,338.
The market witnessed 33% surge in the insurance sector’s trade volume to 0.16mn stocks and 1% in value to QR10.23mn but on 21% fall in transactions to 169.
The transport sector’s trade volume expanded 8% to 0.28mn shares, whereas value decreased 5% to QR9.15mn and deals by 18% to 196.
The banks and financial services sector reported 6% increase in trade volume to 3.58mn equities, 24% in value to QR186.76mn and 11% in transactions to 1,528.
In the debt market, there was no trading of treasury bills and government bonds.
