The Qatar Stock Exchange on Tuesday inched towards the 10,700 levels mainly on domestic institutions’ buying interests.
The real estate and banking counters witnessed higher than average demand as the 20-stock Qatar Index settled mere five points or 0.04% higher at 10,694.36 points, amidst a flat trade turnover.
However, non-Qatari institutions were seen bearish on the market, which is up 2.58% year-to-date.
Market capitalisation saw QR32mn or 0.05% addition to QR594.32bn mainly owing to microcap segments.
Islamic stocks were seen gaining relatively faster than the other indices on the bourse, where local retail investors continued to be net sellers but with lesser vigour.
Trade turnover was flat amid rising volumes on the bourse, where banking and realty sectors together accounted for about 82% of the total volume.
The Total Return Index was up 0.04% to 19,678.52 points, All Share Index by 0.03% to 3,171.61 points and Al Rayan Islamic Index (Price) by 0.05% to 2,359.86 points.
The real estate index gained 0.35%, banks and financial services (0.17%) and transport (0.05%); while insurance declined 0.56%, consumer goods (0.43%), telecom (0.29%) and industrials (0.08%).
Major gainers included Ezdan, Qatar First Bank, Qatari Investors Group, Qatar Oman Investment, Qatar General Insurance and Reinsurance and Nakilat; whereas Al Khaliji, Gulf International Services, Mesaieed Petrochemical Holding, Mazaya Qatar, Vodafone Qatar and Gulf Warehousing were among the losers.
Domestic institutions’ net buying strengthened significantly to QR55.18mn compared to QR12.59mn on January 20.
The Gulf institutions were net buyers to the tune of QR0.41mn against net sellers of QR2.89mn the previous day.
Local retail investors’ net profit booking declined substantially to QR42.86mn compared to QR73.56mn on Monday.
Non-Qatari individuals’ net selling weakened marginally to QR3.33mn against QR3.65mn on January 20.
However, non-Qatari funds turned net sellers to the extent of QR8.97mn compared with net buyers of QR67.56mn the previous day.
The Gulf individuals’ net profit booking expanded perceptibly to QR0.44mn against QR0.03mn on Monday.
Total trade volumes grew 17% to 140.92mn shares and value by less than 1% to QR272.62mnm, while transactions fell 15% to 4,869.
The banks and financial services sector saw 90% surge in trade volume to 74.48mn equities and 21% in value to QR179.39mn but on 6% dip in deals to 2,187.
However, the telecom sector’s trade volume plummeted 58% to 3.52mn stocks, value by 57% to QR13.46mn and transactions by 19% to 531.
The consumer goods sector reported 28% plunge in trade volume to 7.5mn shares, 18% in value to QR13.23mn and 29% in deals to 399.
The transport sector’s trade volume tanked 24% to 3.68mn equities and value by 21% to QR12.42mn, while transactions were up 1% to 142.
The insurance sector saw 23% shrinkage in trade volume to 0.43mn stocks, 51% in value to QR0.81mn and 40% in deals to 54.
The industrials sector’s trade volume declined 10% to 10.27mn shares, value by 31% to QR16.92mn and transactions by 29% to 737.
There was 10% contraction in the real estate sector’s trade volume to 41.03mn equities but on 4% jump in value to QR36.4mn despite 13% lower deals at 819.
In the debt market, there was no trading of sovereign bonds and treasury bills.