Buying was pronounced, especially in telecom, banking and insurance counters, which lifted the 20-stock Qatar Index 0.67% to 10,397.58 points.
The bullish outlook of foreign institutions helped instil confidence in the bourse, whose year-to-date losses were contained at mere 0.3%, having widened to about 7% in the recent past.
Trade turnover and volumes were on the decline in the market, where banking, realty and industrials sectors together accounted for about 84% of the total volume.
Large cap equities saw higher demand to outperform the bourse, where Gulf institutions turned bearish and local and non-Qatari retail investors became increasingly profit takers.
Islamic stocks were, however, seen declining vis-à-vis gains in the other indices in the market, where domestic institutions’ net buying weakened.
Market capitalisation gained more than QR4bn or 0.79% to QR559.28bn as large, micro and small cap equities added 0.99%, 0.17% and 0.05% respectively, while midcaps fell 0.28%. The Total Return Index rose 0.67% to 16,822.6 points and All Share Index by 0.61% to 2,854.5 points, while Al Rayan Islamic Index fell 0.18% to 3,824.64 points.
Telecom sector saw its index gain 1.53%, banks and financial services (0.91%), insurance (0.83%), transport (0.38%), real estate (0.34%) and industrials (0.33%); whereas consumer goods shrank 0.36%. About 49% of the traded stocks extended gains with major movers being QNB, Commercial Bank, Ooredoo, Qatar Insurance, Doha Bank, Ezdan, Qatar First Bank, Industries Qatar, Aamal Company, Qatar Electricity and Water and Nakilat.
Nevertheless, Mesaieed Petrochemical Holding, Gulf International Services, Vodafone Qatar, Mazaya Qatar, Qatar Islamic Bank, Masraf Al Rayan, United Development Company, Dlala, Islamic Holding Group and Qatari Investors Group were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR57.18mn compared with net sellers of QR10.39mn on December 12.
The GCC (Gulf Cooperation Council) individual investors were also net buyers to extent of QR0.3mn against net sellers of QR0.04mn on Monday.
However, the GCC institutions turned net sellers to the extent of QR11.21mn compared with net buyers of QR40.8mn the previous day.
Domestic institutions’ net buying weakened perceptibly to QR16.25mn against QR23.12mn on December 12.
Local retail investors’ net profit booking strengthened to QR53.49mn compared to QR47.36mn on Monday.
Non-Qatari individual investors’ net selling increased to QR9.01mn against QR6.12mn the previous day.
Total trade volume fell 26% to 11.09mn shares, value by 25% to QR338.54mn and deals by 24% to 4,507.
There was a 63% plunge in the insurance sector’s trade volume to 0.11mn equities, 68% in value to QR4.16mn and 68% in transactions to 82.
The telecom sector’s trade volume plummeted 53% to 1.2mn stocks, value by 66% to QR15.59mn and deals by 49% to 307.
The industrials sector reported 53% shrinkage in trade volume to 1.53mn shares, 43% in value to QR80.47mn and 32% in transactions to 971.
The real estate sector’s trade volume tanked 27% to 3.63mn equities, value by 25% to QR62.28mn and deals by 32% to 784.
The market witnessed 26% decline in the transport sector’s trade volume to 0.28mn stocks and 10% in value to QR10.43mn but on less than 1% rise in transactions to 220.
The consumer goods sector’s trade volume was down 8% to 0.23mn shares, value by 37% to QR8.88mn and deals by 20% to 264.
However, the banks and financial services sector saw 26% surge in trade volume to 4.12mn equities and 12% in value to QR156.73mn but on 3% fall in transactions to 1,879.
In the debt market, there was no trading of treasury bills and government bonds.