Qatar Stock Exchange on Wednesday witnessed buying interests for the third straight session, mainly lifted by telecom, insurance and consumer goods.
Local retail investors and Gulf institutions witnessed lower net selling pressure as the 20-stock Qatar Index added 0.19% to 9,327.77 points.
Doha Bank sponsored exchange traded fund QETF saw 0.29% gains; whereas Masraf Al Rayan sponsored QATR was down 0.04%.
Islamic stocks were however seen underperforming the market, which is up 9.44% year-to-date.
Stronger gains – especially in the small and microcap stocks – led the market capitalisation expand 0.17% to QR515.32bn.
Trade turnover and volume were on the decline in the market, where transport, banking and telecom sectors together accounted for about 64% of the total volume.
The Total Return Index rose 0.19% to 16,434.49 points, All Share Index by 0.22% to 2,727.95 points and Al Rayan Islamic Index (Price) by 0.05% to 2,255.15 points.
The telecom index soared 2.41%, insurance (1.87%), consumer goods (0.59%) and banks and financial services (0.03%); while realty, industrials and transport declined 0.26%, 0.12% and 0.05% respectively.
More than 52% of the stocks extended gains with major movers being Qatar Insurance, Al Mazaya Qatar, United Development Company, Vodafone Qatar, Ooredoo, Nakilat, Woqod, Qatar Electricity and Water, Aamal Company and Al Khaleej Takaful.
Nevertheless, Industries Qatar, Milaha, Qatari Investors Group, Ezdan, Medicare Group and Ahlibank were among the losers.
Local individual investors’ net selling declined substantially to QR50.08mn compared to QR96.9mn the previous day.
The Gulf institutions’ net profit booking weakened influentially to QR15.14mn against QR31.74mn on Tuesday.
Non-Qatari individual investors’ net selling shrank perceptibly to QR7.88mn compared to QR11.94mn on June 5.
The Gulf individual investors’ net profit booking fell considerably to QR1.12mn against QR5.47mn the previous day.
However, non-Qatari institutions’ net buying contracted significantly to QR82.51mn compared to QR147.22mn on Tuesday.
Domestic institutions’ net profit booking strengthened sizeably to QR8.33mn against QR1.17mn on June 5.
Total trade volume fell 14% to 14.18mn shares, value by 20% to QR447.92mn and transactions by 20% to 6,014.
The industrials sector’s trade volume plummeted 59% to 1.01mn equities, value by 38% to QR50.08mn and deals by 20% to 1,067.
The banks and financial services sector saw 37% plunge in trade volume to 2.58mn stocks, 35% in value to QR168.68mn and 36% in transactions to 1,818.
The transport sector’s trade volume declined 9% to 3.91mn shares, value by 9% to QR65.31mn and deals by 22% to 854.
There was 6% fall in the real estate sector’s trade volume to 1.91mn equities, 30% in value to QR22.31mn and 6% in transactions to 595.
The consumer goods sector’s trade volume was down 6% to 0.5mn stocks, while value grew 45% to QR42.66mn despite 4% lower deals at 511.
However, the insurance sector reported 57% surge in trade volume to 1.68mn shares, 65% in value to QR66.3mn and 62% in transactions to 549.
The telecom sector’s trade volume expanded 28% to 2.58mn equities, whereas value shrank 28% to QR32.57mn and deals by 20% to 620.
In the debt market, there was no trading of treasury bills and sovereign bonds.