The Qatar Stock Exchange on Tuesday gained for the third straight session, mainly on the back of strong buying interests in the industrials and telecom equities.
Foreign institutions turned bullish to lift the 20-stock Qatar Index 0.49% to 8,253.34 points.
The weakened selling pressure from domestic and Gulf institutions also helped the bourse, whose year-to-date losses were at 20.92%.
Islamic equities were seen out-performing the main index in the market, whose capitalisation grew 0.36% to QR449.14bn.
The market saw profit booking pressure in the first 30 minutes to take the index to a low of about 8,150 points, after which it was consistently on an upward path, thus settling 40 points higher.
Trade turnover and volumes were on the decline on the bourse, where industrials and banking sectors together accounted for about 74% of the total volume.
The Total Return Index gained 0.49% to 13,840.36 points, All Share Index by 0.33% to 2,316.15 points and Al Rayan Islamic Index by 0.94% to 3,327.99 points.
The industrials index soared 1.36%, telecom (0.83%), transport (0.08%), banks and financial services (0.04%, and consumer goods and real estate (0.01% each); while insurance fell 0.13%.
Major movers included Industries Qatar, Gulf Warehousing, Ooredoo, Nakilat, Gulf International Services, Qatari Investors Group, Medicare Group, Dlala and Aamal Company; whereas Milaha, Vodafone Qatar, Ezdan, Mesaieed Petrochemical Holding, Doha Bank and Commercial Bank were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR11.83mn compared with net sellers of QR14.99mn on Monday.
The GCC (Gulf Cooperation Council) funds’ net profit booking declined to QR0.4mn against QR5.47mn the previous day.
Domestic institutions’ net selling weakened marginally to QR18.81mn compared to QR19.03mn on October 9.
However, local retail investors’ net buying fell considerably to QR4.54mn against QR30.6mn on Monday.
Non-Qatari individual investors’ net buying shrank perceptively to QR2.98mn compared to QR8.37mn the previous day.
The GCC retail investors turned net profit takers to the extent of QR0.13mn against net buyers of QR0.56mn on Monday.
Total trade volume fell 41% to 6.01mn shares, value by 34% to QR122.48mn and deals by 13% to 2,136.
There was 90% plunge in the insurance sector’s trade volume to 0.02mn equities, 93% in value to QR0.79mn and 83% in transactions to 33.
The real estate sector’s trade volume plummeted 88% to 0.41mn stocks, value by 83% to QR6.53mn and deals by 68% to 222.
The telecom sector reported 75% shrinkage in trade volume to 0.28mn shares and 30% in value to QR7.02mn but on 40% rise in transactions to 174.
The banks and financial services sector’s trade volume tanked 42% to 1.94mn equities, value by 57% to QR38.87mn and deals by 9% to 631.
However, the transport sector’s trade volume almost tripled to 0.45mn stocks and value almost quadrupled to QR10mn on more than doubled transactions to 370.
The industrials sector saw 72% surge in trade volume to 2.49mn shares, 96% in value to QR49.71mn and 21% in deals to 558.
The consumer goods sector’s trade volume was up 5% to 0.42mn equities, value by 15% to QR9.57mn and transactions by 20% to 148.
In the debt market, there was no trading of treasury bills and government bonds.