The Qatar Stock Exchange on Wednesday gained more than 27 points, or 0.27%, on the back of the consumer goods, telecom and industrials sectors.
Local retail investors turned bullish and there were increased buying interests from non-Qataris and foreign funds as the 20-stock Qatar Index settled at 10,297.54 points, although it stood above 10,300 levels and even touched 10,320 points intraday.
The Gulf individual investors were also seen marginally bullish in the market, which is down 1.23% year-to-date.
Market capitalisation saw QR87mn, or 0.15%, increase to QR574.42bn mainly owing to microcap segments.
Islamic stocks were seen gaining faster than the other indices in the bourse, where domestic funds were increasingly net profit takers.
Trade turnover and volumes were on the decline in the bourse, where the banking and industrials sectors together accounted for about 52% of the total volume.
The Total Return Index rose 0.27% to 18,948.35 points and the All Share Index by 0.17% to 3,066.45 points and the Al Rayan Islamic Index (Price) by 0.43% to 2,264.18 points.
The consumer goods index shot up 1.41%, telecom (0.97%), industrials (0.4%), real estate (0.12%) and banks and financial services (less than 1%); while insurance and transport declined 0.77% and 0.42% respectively.
Major gainers included Commercial Bank, Qatar German Company for Medical Devices, Zad Holding, Salam International Investment, Woqod, Qatari Investors Group, Qatar Electricity and Water, Mesaieed Petrochemical Holding and Vodafone Qatar; even as Doha Bank, Qatar First Bank, Medicare Group, Industries Qatar, Mazaya Qatar, Ezdan and Nakilat were among the losers.
Non-Qatari institutions’ net buying grew influentially to QR34.78mn compared to QR27.74mn on February 4.
Local retail investors turned net buyers to the tune of QR9.4mn against net sellers of QR18.88mn the previous day.
Non-Qatari individual investors’ net buying rose noticeably to QR3.01mn compared to QR0.6mn on Tuesday.
The Gulf institutions were net buyers to the extent of QR0.07mn against net sellers of QR8.17mn on February 4.
However, domestic funds’ net selling grew significantly to QR45.37mn compared to QR1.06mn the previous day.
The Gulf individuals’ net profit booking strengthened perceptibly to QR1.91mn against QR0.22mn on Tuesday.
Total trade volumes fell 20% to 54.47mn shares, value by 2% to QR216.67mn and transactions by 19% to 5,185.
The insurance sector reported a 57% plunge in trade volume to 0.92mn equities, 46% in value to QR2.68mn and 25% in deals to 146.
The banks and financial services sector’s trade volume plummeted 40% to 17.88mn stocks but on a 1% rise in value to QR135.53mn and 20% in transactions to 2,479.
The consumer goods sector’s trade volume tanked 31% to 4.76mn shares and value by 13% to QR17.06mn, while deals grew 15% to 720.
There was a 17% shrinkage in the transport sector’s trade volume to 2.62mn equities, 12% in value to QR7.28mn and 21% in transactions to 198.
The industrials sector’s trade volume declined 8% to 10.42mn stocks, while value was up less than 1% to QR27.08mn despite 29% lower deals at 836.
However, the real estate sector saw a 32% surge in trade volume to 9.37mn shares but on a 14% contraction in value to QR11.01mn and 7% in transactions to 394.
The telecom sector’s trade volume soared 11% to 8.49mn equities and value by 11% to QR16.03mn, while deals shrank 33% to 412.
In the debt market, there was no trading of sovereign bonds and treasury bills.