Strong selling, especially in the industrials and transport counters, notwithstanding, the Qatar Stock Exchange on Tuesday remained flat, a day after it made a huge leap.
Foreign institutions’ robust buying was to a great extend contained by severe selling of their domestic counterparts that the 20-stock Qatar Index was up mere 0.01% to 9,126.4 points.
Doha Bank and Masraf Al Rayan sponsored exchange traded funds QATR and QETF reported 0.55% and 0.12% gains respectively.
There was weakened net selling by local retail investors and Gulf institutions in the market, which is however up 7.07% year-to-date.
Although micro, small and large cap stocks witnessed gains, the market capitalisation was largely flat at QR506bn.
Trade turnover expanded amidst lower volumes in the market, where banking, industrials and transport sectors together accounted for about 85% of the total volume.
The Total Return Index was up 0.01% to 16,079.71 points and All Share Index by 0.02% to 2,671.27 points, while Al Rayan Islamic Index (Price) was down 0.08% to 2,210.79 points.
The insurance index gained 0.68%, banks and financial services (0.36%) and realty (0.25%); whereas industrials declined 0.68%, transport (0.62%), consumer goods (0.3%) and telecom (0.28%).
Major gainers included Commercial Bank, Medicare Group, Qatar Insurance, Ezdan, United Development Company, Qatari Investors Group and QNB; while Doha bank, Alijarah Holding, Qatari German Company for Medical Devices, Industries Qatar, Aamal Company, Mesaieed Petrochemical Holding, Nakilat and Vodafone Qatar were among the losers.
Non-Qatari institutions’ net buying grew substantially to QR280.24mn compared to QR219.26mn on May 28.
Local individual investors’ net selling declined significantly to QR41.59mn against QR129.63mn the previous day.
The Gulf funds’ net selling also weakened considerably to QR39.5mn compared to QR60.59mn on Monday.
However, domestic institutions’ net profit booking expanded influentially to QR191.62mn against QR28.13mn on May 28.
The Gulf individuals turned net sellers to the tune of QR4.34mn compared with net buyers of QR2mn the previous day.
Non-Qatari individual investors’ net profit booking increased perceptibly to QR3.08mn against QR2.9mn on Monday.
Total trade volume fell 8% to 11.02mn shares, while value rose 22% to QR789.2mn despite 5% lower transactions at 6,415.
The telecom sector’s trade volume plummeted 69% to 0.73mn equities, value by 29% to QR21.47mn and deals by 16% to 358.
The insurance sector reported 38% plunge in trade volume to 0.08mn stocks, 40% in value to QR2.66mn and 49% in transactions to 57.
The consumer goods sector’s trade volume tanked 24% to 0.22mn shares, while value soared 54% to QR18.3mn and deals by 13% to 295.
The market witnessed 7% decline in the industrials sector’s trade volume to 2.43mn equities but on 17% growth in value to QR126.85mn despite 11% fall in transactions to 1,372.
However, the real estate sector’s trade volume soared 35% to 0.66mn stocks, value by 9% to QR7.66mn and deals by 17% to 245.
There was 23% surge in the transport sector’s trade volume to 2mn shares and 23% in value to QR34.85mn but on 27% decline in transactions to 1,108.
The banks and financial services sector’s trade volume expanded 8% to 4.9mn equities, value by 27% to QR577.42mn and deals by 10% to 2,980.
In the debt market, there was no trading of treasury bills and sovereign bonds.
