The Qatar Stock Exchange on Wednesday witnessed marginal gains despite strong buying interests of foreign institutions.
The 20-stock Qatar Index could add only 0.08% to 8,171.2 points even as there was robust demand in the telecoms counter.
There was also weakened net selling by Gulf and domestic funds on the market, whose year-to-date losses were seen at 21.71%.
Islamic equities rather treaded a flat course on the bourse, whose capitalisation was down 0.1% to QR443.66bn.
"Only below 8,000 points would bring back to focus the low of year 2011 at around 7,500 points," Kamco analysts had said, adding both weekly and daily relative strength index indicators are however leaning more towards the bulls at present.
Trade turnover fell amidst higher volumes in the market, where banking, real estate and insurance sectors together accounted for about 80% of the total volume.
The Total Return Index was up 0.08% to 13,702.63 points, whereas All Share Index fell 0.18% to 2,282.48 points. Al Rayan Islamic Index was flat at 3,211.36 points.
The telecom index gained 1.82%, insurance (0.1%) and industrials (0.02%); while consumer goods fell 1.05%, realty (0.7%), transport (0.68%) and banks and financial services (0.21%).
Major gainers include Ooredoo, QIIB, Industries Qatar, Aamal Company, Gulf International Services, Barwa and Gulf Warehousing; even as QNB, Mesaieed Petrochemical Holding, Ezdan, Mazaya Qatar, Nakilat, Dlala and Al Khaliji were among the losers.
Non-Qatari institutions’ net buying strengthened impressively to QR10.88mn compared to QR3.55mn on Tuesday.
The GCC (Gulf Cooperation Council) funds’ net selling declined to QR1.27mn against QR3.02mn the previous day.
Domestic institutions’ net profit booking fell perceptibly to QR3.67mn compared to QR5.01mn on October 31.
However, local retail investors’ net selling increased considerably to QR8.19mn against QR2.61mn on Tuesday.
The GCC retail investors’ net buying weakened to QR0.11mn compared to QR1.11mn the previous day.
Non-Qatari individual investors’ net buying also fell perceptibly to QR2.17mn against QR6mn on October 31.
Total trade volume rose 24% to 6.09mn shares, while value fell 6% to QR132.07mn and deals by 36% to 1,908.
The insurance sector’s trade volume grew more than five-fold to 1.37mn equities and value more than doubled to QR15.82mn but on 57% fall in transactions to 71.
There was 48% surge in the real estate sector’s trade volume to 1.42mn stocks and 22% in value to QR17.3mn but on 41% decline in deals to 238.
The banks and financial services sector’s trade volume soared 28% to 2.08mn shares and value by 34% to QR64.42mn, while transactions shrank 28% to 698.
The consumer goods sector saw 3% jump in trade volume to 0.3mn equities but on 23% decline in value to QR14.67mn and 31% in deals to 161.
However, the transport sector’s trade volume plummeted 76% to 0.12mn stocks, value by 85% to QR2.3mn and transactions by 56% to 151.
The industrials sector reported 42% plunge in trade volume to 0.56mn shares, 66% in value to QR9.57mn and 53% in deals to 297.
The telecom sector’s trade volume tanked 23% to 0.24mn equities and value by 10% to QR7.99mn, whereas transactions expanded 23% to 292.
In the debt market, there was no trading of government bonds and treasury bills.