The Qatar Stock Exchange on Wednesday continued to remain under buying influence, albeit at lower levels, despite selling pressure in the real estate and insurance counters.
Foreign funds continued to be net buyers but with lesser vigour as the 20-stock Qatar Index settled a marginal 0.07% higher at 8,999.92 points.
Masraf Al Rayan-sponsored exchange traded funds QATR gained 0.23%, while Doha Bank-sponsored QETF was on a flat course.
The weakened net selling by domestic institutions and local retail investors helped the market, which is up 5.59% year-to-date.
The bourse’s capitalisation was, however, down 0.01% to QR498.96bn, mainly on the back of selling in the midcap segment.
Trade turnover and volumes were on the slide in the market, where banking and industrials sectors together accounted for about 69% of the total volume.
The Total Return Index was up 0.07% to 15,856.85 points and Al Rayan Islamic Index (Price) by 0.14% to 2,194.23 points, whereas All Share Index fell 0.08% to 2,638.45 points.
The transport index grew 0.4%, consumer goods (0.3%), telecom (0.14%), banks and financial services (0.09%) and industrials (0.02%); while realty and insurance declined 1.03% and 0.67% respectively.
More than 58% of the stocks extended gains with major movers being Qatar Islamic Bank, Alijarah Holding, Dlala, Islamic Holding Group, Widam Food, Industries Qatar, Mesaieed Petrochemical Holding, Gulf International Services, Doha Insurance, Mazaya Qatar, Vodafone Qatar and Nakilat; even as Commercial Bank, Doha Bank, Qatar Electricity and Water, Qatar Insurance, Ezdan and Gulf Warehousing were among the losers.
Non-Qatari institutions’ net buying declined perceptibly to QR101.3mn compared to QR175.47mn on May 22.
Domestic funds’ net profit booking weakened considerably to QR9.37mn against QR46.42mn the previous day.
Local individual investors’ net selling shrank substantially to QR30.66mn compared to QR79.34mn on Tuesday.
The Gulf institutions’ net selling expanded significantly to QR63.68mn against QR49.87mn on May 22.
The Gulf individuals turned net buyers to the tune of QR1.6mn compared with net sellers of QR1.16mn the previous day.
Non-Qatari individual investors’ net buying weakened marginally to QR0.82mn against QR1.29mn on Tuesday.
Total trade volume fell 1% to 8.98mn shares, value by 24% to QR326.55mn and transactions by 10% to 4,066.
There was 39% plunge in the insurance sector’s trade volume to 0.19mn equities, 39% in value to QR6.45mn and 46% in deals to 73.
The banks and financial services sector’s trade volume plummeted 25% to 3.07mn stocks, value by 30% to QR198.77mn and transactions by 21% to 1,640.
The industrials sector reported 15% shrinkage in trade volume to 2.66mn shares, 40% in value to QR63.31mn and 27% in deals to 926.
However, the telecom sector’s trade volume more than doubled to 1.59mn equities and value also more than doubled to QR15.98mn on 15% jump in transactions to 323.
The transport sector’s trade volume more than doubled to 0.57mn stocks and value almost doubled to QR11.9mn on 64% increase in deals to 349.
The consumer goods sector reported 76% increase in trade volume to 0.3mn shares to more than double value to QR23.76mn on almost doubled transactions to 483.
The real estate sector’s trade volume was up 5% to 0.6mn equities, value by 2% to QR6.36mn and deals by 1% to 323.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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