Strong rebound in the insurance and telecom counters on Tuesday helped the Qatar Stock Exchange enter positive trajectory after two days of bearish spell.
Robust buying interests from non-Qatari institutions steered the 20-stock Qatar Index up 0.21% to 7,873.84 points.
However, there was increased selling pressure from Gulf institutions and local retail investors in the market, whose year-to-date losses were at 24.56%.
Islamic equities were however seen declining in the bourse, whose capitalisation expanded 1.21% to QR424.49bn.
Trade turnover and volumes were on the increase in the market, where banking and real estate sectors together accounted for more than 55% of the total volume.
The Total Return Index gained 0.21% to 13,203.97 points and All Share Index fell 0.24% to 2,166.78 points, whereas Al Rayan Islamic Index was down 0.03% to 2,989.87 points.
The insurance index soared 3.89%, telecom (1.12%), industrials (0.43%), transport (0.11%) and banks and financial services (0.08%); while realty and consumer goods fell 1.2% and 0.18% respectively.
More than 51% of the stocks extended gains with major movers being Qatar Insurance, Ooredoo, QIIB, Dlala, Woqod, Gulf Warehousing, Qatar Islamic Bank, Industries Qatar and Gulf International Services; even as Qatar First Bank, Medicare Group, Qatari Investors Group and Ezdan were among the losers.
Non-Qatari institutions’ net buying increased influentially to QR32.86mn compared to QR8.9mn on November 13.
However, the GCC (Gulf Cooperation Council) fund’ net buying rose considerably to QR19.98mn against QR2.59mn the previous day.
Local retail investors’ net profit booking grew perceptibly to QR17.85mn compared to QR12.73mn on Monday.
The GCC retail investors’ net selling increased marginally to QR1.26mn against QR0.94mn on November 13.
The domestic institutions’ net buying weakened to QR5.48mn compared to QR6.48mn the previous day.
Non-Qatari individual investors’ net buying declined to QR0.75mn against QR0.9mn on Monday.
Total trade volume rose 4% to 5.7mn shares, value by 21% to QR203.07mn and deals by 18% to 3,107.
The insurance sector’s trade volume more than doubled to 0.53mn equities and valued soared 73% to QR14.4mn on more than tripled transactions to 307.
The banks and financial services sector saw 69% surge in trade volume to 2.04mn stocks, 53% in value to QR93.51mn and 19% in deals to 1,133.
The consumer goods sector’s trade volume soared 50% to 0.18mn shares and value by 59% to QR12.92 on more than doubled transactions to 309.
However, the transport sector reported 53% plunge in trade volume to 0.34mn equities, 70% in value to QR8.34mn and 10% in deals to 225.
The industrials sector’s trade volume plummeted 23% to 0.82mn stocks but value grew 35% to QR43.06mn despite 10% lower transactions to 489.
There was 22% shrinkage in the real estate sector’s trade volume to 1.11mn shares, 19% in value to QR15.34mn and 38% in deals to 248.
The telecom sector’s trade volume was down 3% to 0.68mn equities, whereas value expanded 39% to QR15.5mn and transactions by 44% to 416.
In the debt market, there was no trading of treasury bills and sovereign bonds.