The Qatar Stock Exchange on Tuesday saw sustained buying, albeit at lower levels, despite stronger buying support from domestic and Gulf institutions.
Transport, real estate, consumer goods and telecom counters witnessed higher demand although the 20-stock Qatar Index was up a mere 0.07% to 10,125.44 points as global oil prices edged up on possible extended production cuts.
The market witnessed rather violent gyrations that it went below 10,100 mark thrice intra-day before settling seven points higher against the previous close.
Kamco analysts said a close above 10,000 points would enhance further towards 10,225 points although weekly relative strength index indicator is currently looking "negative".
Small and microcap stocks found favour among investors on the bourse, which, however, saw increased net selling from local and Gulf retail investors as well as Gulf institutions.
Islamic stocks were seen outperforming the main index as well as other indices in the market, which also saw non-Qatari individuals turn bearish.
Trade turnover increased substantially amid marginal expansion in volumes in the market, where realty, telecom and banking sectors together accounted for more than 85% of the total volumes.
Market capitalisation, however, shrank more than QR1bn or 0.2% to QR539.23bn as mid and large cap scrips fell 0.45% and 0.05%; while small and microcaps gained 0.79% and 0.14% respectively.
The Total Return Index was up 0.07% to 16,979.77 points and Al Rayan Islamic Index by 0.42% to 4,061.44 points, while All Share Index was down marginally to 2,864.94 points.
The transport sector’s index gained 0.82%, real estate (0.52%), consumer goods (0.36%) and telecom (0.3%); whereas banks and financial services fell 0.3% and industrials (0.24%). The insurance index was unchanged.
Major gainers included Aamal Company, Barwa, Gulf Warehousing, Nakilat, Commercial Bank, Masraf Al Rayan, Ooredoo, Mesaieed Petrochemical Holding, Gulf International Services, Mazaya Qatar, Untied Development Company and Islamic Holding Group.
Nevertheless, QNB, Industries Qatar, Vodafone Qatar, Alijarah Holding, Qatar First Bank, Ahli Bank and Zad Holding were among the losers.
Domestic institutions’ net buying strengthened considerably to QR18.12mn compared to QR7.51mn the previous day.
Non-Qatari institutions’ net buying also increased substantially to QR12.37mn against QR6.6mn on May 15.
However, local retail investors’ net selling rose perceptibly to QR21.07mn compared to QR14.12mn on Monday.
The GCC (Gulf Cooperation Council) funds’ net selling increased to QR6.04mn against QR2.91mn the previous day.
Non-Qatari retail investors turned net sellers to the tune of QR2mn compared with net buyers of QR3.06mn on May 15.
The GCC individual investors’ net profit booking rose to QR1.41mn against QR0.14mn on Monday.
Total trade volumes rose 1% to 8.56mn shares, value by 42% to QR243.56mn and deals by 20% to 3,112.
The industrials sector’s trade volume more than doubled to 0.46mn equities and value more than tripled to QR30.98mn on 86% increase in transactions to 427.
The real estate sector’s trade volume soared 87% to 3.19mn stocks to more than double value to QR80.75mn on 51% jump in deals to 588.
There was 29% surge in the transport sector’s trade volume to 0.54mn shares, 99% in value to QR189.95mn on more than tripled transactions to 491.
However, the insurance sector’s trade volume plummeted 42% to 0.11mn equities, value by 21% to QR6.84mn and deals by 33% to 77.
The banks and financial services sector saw 37% plunge in trade volume to 1.67mn stocks but on less than 1% increase in value to QR66.3mn despite 11% lower transactions to 1,014.
The telecom sector’s trade volume tanked 24% to 2.42mn shares, value by 22% to QR24.76mn and deals by 8% to 328.
The market witnessed 11% decline in the consumer goods sector’s trade volume to 0.16mn equities, 7% in value to QR15.17mn and 6% in transactions to 187.
In the debt market, there was no trading of treasury bills and government bonds.
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