The Qatar Stock Exchange on Wednesday snapped five days of bearish spell to gain about 18 points, mainly on the back of increased buying interests of the Gulf funds and lower selling pressure from foreign institutions.
Insurance, realty, banking, telecom and transport counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.17% higher at 10,440.73 points.
The non-Qatari individuals were seen marginally bullish in the market, which is up 0.15% year-to-date.
Market capitalisation saw more than QR1bn or 0.26% increase to QR579.61bn mainly owing to microcap segments.
Islamic stocks were however seen declining vis-à-vis gains in the other indices in the bourse, where domestic funds turned net profit takers.
Trade turnover grew amidst lower volumes in the bourse, where banking, industrials and consumer goods sectors together accounted for about 78% of the total volume.
The Total Return Index rose 0.17% to 19,211.83 points and All Share Index by 0.35% to 3,099.61 points, while Al Rayan Islamic Index (Price) was down 0.02% to 2,304.6 points.
The insurance index gained 1.16%, real estate (0.78%), banks and financial services (0.74%), telecom (0.4%) and transport (0.27%); whereas industrials and consumer goods declined 0.84% and 0.29% respectively.
As much as 60% of the traded constituents extended gains with major movers being Qatar First Bank, QNB, Qatar Islamic Bank, Alijarah Holding, Qatar German Company for Medical Devices, Gulf International Services, Doha Insurance, Qatar General Insurance and Reinsurance, United Development Company, Barwa, Vodafone Qatar and Nakilat; even as Industries Qatar, Mesaieed Petrochemical Holding, Commercial Bank and Islamic Holding Group were among the losers.
The Gulf institutions’ net buying increased influentially to QR5.22mn compared to QR1.41mn on January 28.
Non-Qatari individuals turned net buyers to the tune of QR1.11mn against net sellers of QR3.12mn the previous day.
Non-Qatari funds’ net profit booking declined considerably to QRR9.47mn compared to QR24.09mn on Tuesday.
The Gulf individual investors’ net selling weakened marginally to QR0.3mn against QR0.32mn on January 28.
However, local retail investors’ net buying fell substantially to QR9.28mn compared to QR15.39mn the previous day.
Domestic institutions were net sellers to the tune of QR5.85mn against net buyers of QR10.74mn on Tuesday.
Total trade volumes fell 24% to 61.89mn shares, while value was up 2% to QR184.55mnm and transactions by 7% to 5,092.
The telecom sector’s trade volume soared 92% to 2.71mn equities and value by 9% to QR7.09mn, whereas deals declined 25% to 407.
There was 77% surge in the insurance sector’s trade volume to 1.54mn stocks, 25% in value to QR3.03mn and 13% in transactions to 146.
The banks and financial services sector saw 8% increase in trade volume to 224.13mn shares but on 4% dip in value to QR93.39mn despite 22% higher deals at 2,402.
The industrials sector’s trade volume expanded 7% to 12.77mn equities, value by 11% to QR35.4mn and transactions by 26% to 1,147.
However, the consumer goods sector reported 57% plunge in trade volume to 11.09mn stocks but on 58% increase in value to QR33.02mn despite 8% lower deals at 564.
The real estate sector’s trade volume plummeted 53% to 8.62mn shares, value by 54% to QR8.51mn and transactions by 33% to 369.
The market witnessed 11% shrinkage in the transport sector’s trade volume to 1.04mn equities but on 29% growth in value to QR4.11mn despite 12% lower deals at 57.
In the debt market, there was no trading of sovereign bonds and treasury bills.