Buying interests at the realty, banking and telecom counters on Thursday overcame the strong selling pressure, especially in the consumer goods, to lift the Qatar Stock Exchange after two days of sell-off.
Although decliners outnumbered gainers, the 20-stock Qatar Index settled 0.15% higher at 10,214.19 points.
Local and Gulf retail investors were seen bullish in the market, which is up 19.84% year-to-date.
Market capitalisation expanded about QR5bn, or 0.81%, to QR576.63bn, mainly on account of large cap equities.
However, foreign and Gulf funds turned bearish and there was decreased buying interests from non-Qatari individuals in the market, which saw Islamic equities decline vis-à-vis gains in other indices.
Trade turnover grew amidst higher volumes in the bourse, where the banking, real estate and consumer goods sectors together accounted for more than 87% of the total volume.
The Total Return Index rose 0.15% to 17,996.26 points and the All Share Index by 0.72% to 3,030.98 points, while the Al Rayan Islamic Index (Price) fell 0.38% to 2,378.8 points.
The realty soared 1.92%, banks and financial services (1.61%), telecom (1.24%) and transport (0.3%); whereas consumer goods plunged 3.55%, industrials (0.63%) and insurance (0.06%).
Major gainers included Ezdan, Ooredoo, QNB, Qatari Investors Group and Gulf Warehousing; while Doha Bank, Dlala, Medicare Group, Industries Qatar, Mesaieed Petrochemical Holding, Mazaya Qatar and Barwa were among the losers.
Local individuals turned net buyers to the tune of QR19.29mn compared with net sellers of QR31.91mn on November 14.
Gulf individuals were also net buyers to the extent of QR2.93mn against net sellers of QR0.65mn on Wednesday.
Domestic institutions’ net profit-booking eased considerably to QR9.87mn compared to QR21.59mn the previous day.
However, Gulf institutions turned net sellers to the tune of QR16.11mn against net buyers of QR1.35mn on November 14.
Non-Qatari funds were also net profit-takers to the extent of QR1.5mn compared with net buyers of QR43.02mn on Wednesday.
Non-Qatari individuals’ net buying weakened influentially to QR5.34mn against QR9.78mn the previous day.
Total trade volume fell 32% to 5.7mn shares, while value rose 29% to QR348.74mn despite 22% lower transactions at 4,298.
The telecom sector’s trade volume plummeted 97% to 0.04mn equities, value by 83% to QR3.16mn and deals by 79% to 105.
The transport sector reported 74% plunge in trade volume to 0.1mn stocks, 53% in value to QR3.49mn and 58% in transactions to 101.
The industrials sector’s trade volume tanked 43% to 0.47mn shares, while value expanded 34% to QR38.25mn despite 13% lower deals at 599.
The banks and financial services sector saw 38% shrinkage in trade volume to 2.05mn equities, 21% in value to QR87.12mn and 38% in transactions to 1,334.
The insurance sector’s trade volume shrank 21% to 0.11mn stocks and value by 15% to QR3.93mn, whereas deals grew 21% to 132.
There was 18% fall in the real estate sector’s trade volume to 1.78mn stocks, 36% in value to QR41.95mn and 47% in transactions to 765.
However, the consumer goods sector’s trade volume almost quadrupled to 1.15mn equities and value more than quadrupled to QR170.85mn on almost tripled deals to 1,262.
In the debt market, there was no trading of treasury bills but as many 136,000 sovereign bonds valued at QR1.36bn traded across two transactions.
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