Qatar Stock Exchange on Thursday largely treaded a flat course despite strong buying at the transport, consumer goods, banking and telecom counters.
Foreign and Gulf institutions’ selling pressure substantially weakened amidst a marginal 0.03% rise in the 20-stock Qatar Index to 9,207.01 points.
Local and Gulf retail investors turned bearish and there was lower net buying support from domestic funds and non-Qatari individuals in the bourse, which is up 8.02%.
Small and midcap segments, however, witnessed buying interests in the market, whose capitalisation rose 0.1% to QR501.8bn.
Islamic stocks were seen gaining faster than the other indices in the bourse, where losers outnumbered gainers by a wafer thin margin.
Trade turnover and volumes were on the decline in the bourse, where the banking, telecom and real estate sectors together accounted for more than 74% of the total volume.
The Total Return Index was up 0.03% to 15,439.62 points and the Al Rayan Islamic Index by 0.2% to 3,638.12 points, while the All Share Index was flat at 2,590.87 points
The transport index gained 0.75%, followed by consumer goods (0.36%), banks and financial services (0.35%) and telecom (0.28%); whereas realty declined 0.78%, industrials (0.49%) and insurance (0.07%).
Major gainers included Milaha, Ooredoo, Commercial Bank, Qatar Islamic Bank, QNB, Al Khaliji, Gulf Warehousing, Qatar National Cement, Aamal Company and Qatari German Company for Medical Devices.
Nevertheless, Doha Bank, Islamic Holding Group, Qatari Investors Group, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Gulf International Services, Ezdan, Barwa and United Development Company were among the losers.
Non-Qatari funds’ net profit-booking weakened significantly to QR6mn compared to QR36.12mn on January 31.
Gulf institutions’ net selling declined considerably to QR2.11mn against QR13.15mn the previous day.
However, local individuals turned net sellers to the tune of QR3.93mn compared with net buyers of QR30.47mn on Wednesday.
Gulf individuals were also net sellers to the extent of QR1.21mn against net buyers of QR1.15mn on January 31.
Domestic institutions’ net buying shrank influentially to QR10.64mn compared to QR16.01mn the previous day.
Non-Qatari retail investors’ net buying fell marginally to QR1.58mn against QR1.61mn on Wednesday.
Total trade volume fell 59% to 3.84mn shares, value by 62% to QR100.79mn and deals by 55% to 2,095.
The banks and financial services sector saw a 70% plunge in trade volume to 1.36mn equities, 64% in value to QR42.95mn and 55% in transactions to 748.
The industrials sector’s trade volume plummeted 63% to 0.54mn stocks, value by 64% to QR23.12mn and deals by 55% to 514.
The real estate sector reported a 62% shrinkage in trade volume to 0.73mn shares, 65% in value to QR11.42mn and 54% in transactions to 364.
The transport sector’s trade volume tanked 46% to 0.13mn equities, value by 34% to QR4.39mn and deals by 41% to 127.
There was a 38% decline in the consumer goods sector’s trade volume to 0.2 stocks, 72% in value to QR5.83mn and 55% in transactions to 137.
The telecom sector’s trade volume shrank 9% to 0.77mn shares, value by 42% to QR9.54mn and deals by 62% to 150.
The market witnessed an 8% fall in the insurance sector’s trade volume to 0.12mn equities, 47% in value to QR3.54mn and 62% in transactions to 55.
In the debt market, there was no trading of treasury bills and sovereign bonds.