The Qatar Stock Exchange opened the week with a marginal gain of six points despite strong buying interests at the insurance and transport counters.
Domestic institutions were seen increasingly into buying as the 20-stock Qatar Index settled mere 0.06% higher at 10,118.1 points.
Foreign institutions were marginally bullish on the market, whose sensitive index registered 1.76% declines year-to-date.
Market capitalisation shed 0.16% or about QR1bn to QR577.74bn mainly owing to mid and microcap cap segments.
Islamic equities were seen gaining as fast as the main index on the market, where local and Gulf individual investors were increasingly profit takers.
Trade turnover declined amidst higher volumes in the bourse, where industrials sector alone accounted for about 49% of the total volume.
The Total Return Index rose 0.06% to 18,123.38 points and Al Rayan Islamic Index (Price) by 0.06% to 2,392.23 points, while All Share Index was down 0.04% to 3,076.7 points.
The insurance index gained 1.36%, transport (0.54%), realty (0.11%) and banks and financial services (0.05%); whereas telecom plunged 2.03%, consumer goods (0.74%) and industrials (0.12%).
Major gainers included Nakilat, Qatar Islamic Bank, Commercial Bank, Dlala, Salam International Investment, Mesaieed Petrochemical Holding, Qatar Insurance, Qatar Islamic Insurance and Mazaya Qatar; even as Ooredoo, Al Khaleej Takaful, Qatar National Cement, Qatar Industrial Manufacturing and Islamic Holding Group were among the losers.
Domestic funds’ net buying grew impressively to QR26.69mn compared to QR18.25mn the previous trading day.
Non-Qatari institutions turned net buyers to the tune of QR1.6mn against net sellers of QR10.05mn last Thursday.
The Gulf individuals’ net profit booking declined perceptibly to QR2.05mn compared to QR4.05mn on February 28.
However, local retail investors’ net selling increased influentially to QR15.34mn against QR6.24mn the previous day.
Non-Qatari individuals were net sellers to the extent of QR8.46mn compared with net buyers of QR3.51mn last Thursday.
The Gulf institutions’ net profit booking strengthened marginally to QR2.4mn against QR1.88mn on February 28.
Total trade volume rose 5% to 9.95mn shares, while value fell 21% to QR266.85mn despite 27% higher transactions at 6,531.
The telecom sector’s trade volume soared 92% to 0.69mn equities, value by 51% to QR14.08mn and deals by 65% to 430.
The transport sector reported 88% surge in trade volume to 0.47mn stocks, 49% in value to QR9.83mn and 48% in transactions to 323.
The industrials sector’s trade volume shot up 74% to 4.85mn shares, value by 25% to QR92.57mn and deals by 55% at 2,629.
However, the real estate sector saw 48% plunge in trade volume to 1.89mn equities, 47% in value to QR29.75mn and 5% in transactions to 1,271.
The insurance sector’s trade volume plummeted 33% to 0.26mn stocks, value by 37% to QR8.37mn and deals by 21% to 216.
The banks and financial services sector witnessed 12% shrinkage in trade volume to 1.63mn shares and 39% in value to QR98.48mn but on 32% growth in transactions to 1,413.
The consumer goods sector’s trade volume was down 6% to 0.16mn equities, value by 13% to QR13.77mn and deals by 6% to 249.
In the debt market, there was no trading of treasury bills and sovereign bonds.
Business / Business
Insurance and transport counters witness strong buying interests on QSE
