Foreign institutions on Thursday turned bullish on the Qatar Stock Exchange, which fell for the second day yesterday but remained above 9,500 points.
The realty and transport counters witnessed some demand amidst a 0.22% dip in the 20-stock Qatar Index to 9,563.08 points.
Local retail investors’ weakened net profit-booking also helped the market, whose year-to-date losses were at 8.37%.
Islamic stocks were seen dropping faster than the main index and other indices in the bourse, which saw lower buying support from domestic institutions and non-Qatari individual investors.
The first 90 minutes saw strong profit-booking to take the index to a low of near 9,520 points, after which the mood was largely bullish but there was some last minute sell off. Thus, the index settled 21 points lower.
The midcap segments saw some buying in the market, which, however, saw bearish outlook of Gulf individuals and increased net selling by Gulf institutions.
Market capitalisation was down 0.39% to QR517.28bn despite midcaps adding 0.09%, while micro, small and large caps saw declines.
Trade turnover declined amidst higher volumes in the bourse, where the banking and telecom sectors together accounted for about 70% of the total volumes.
The Total Return Index fell 0.22% to 16,036.72 points, the All Share Index by 0.34% to 2,716.6 points and the Al Rayan Islamic Index by 0.58% to 3,799.29 points.
The realty and transport indices were up 0.09% and 0.02% respectively; whereas consumer goods fell 1.4%, insurance (0.82%), industrials (0.59%), banks and financial services (0.23%) and telecom (0.19%).
Major gainers included Commercial Bank, Doha Bank, Qatar Electricity and Water, Barwa, Mazaya Qatar, Gulf Warehousing, Nakilat and Widam Food; even as QNB, Qatar First Bank, Industries Qatar, United Development Company, Qatari Investors Group, Vodafone Qatar and Qatari German Company for Medical Devices were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR9.64mn compared with net sellers of QR0.08mn on July 26.
Local retail investors’ net profit-booking weakened influentially to QR14mn against QR19.94mn the previous day.
However, non-Qatari retail investors’ net buying weakened considerably to QR2.71mn compared to QR9.42mn on Wednesday.
Domestic institutions’ net buying also declined perceptibly to QR6.93mn against QR11.76mn on July 26.
The GCC (Gulf Cooperation Council) funds’ net profit-booking rose to QR5.15mn compared to QR1.22mn the previous day.
The GCC individuals turned net sellers to the extent of QR0.14mn against net buyers of QR0.06mn on Wednesday.
Total trade volumes rose 3% to 6.37mn shares, while value shrank 22% to QR155.7mn and deals by 8% to 2,596.
The banks and financial services sector saw a 63% surge in trade volume to 2.41mn equities, 18% in value to QR71.08mn and 26% in transactions to 1,024.
The telecom sector’s trade volume expanded 16% to 2.02mn stocks and value by 3% to QR22.63mn, whereas deals fell 13% to 193.
There was a 6% increase in the transport sector’s trade volume to 0.18mn shares but on an 18% shrinkage in value to QR6.31mn despite 12% higher transactions to 218.
However, the insurance sector’s trade volume plummeted 63% to 0.06mn equities, 62% in value to QR3.85mn and 62% in deals to 52.
The consumer goods sector reported a 59% plunge in trade volume to 0.17mn stocks, 71% in value to QR12.09mn and 30% in transactions to 299.
The industrials sector’s trade volume tanked 51% to 0.55mn shares, value by 30% to QR24.61mn and deals by 5% to 408.
The market witnessed a 14% decline in the real estate sector’s trade volume to 0.96mn equities, 34% in value to QR15.12mn and 32% in transactions to 402.
In the debt market, there was no trading of treasury bills and government bonds.
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