The Qatar Stock Exchange on Tuesday gained 28 points to inch near 8,900 levels despite losers outnumbering gainers.
Local retail investors and Gulf institutions turned bearish as the 20-stock Qatar Index settled 0.33% higher at 8,892.44 points, having touched a low of 8,863 points within the first 15 minutes of opening.
The insurance and industrials counters witnessed higher than average demand in the bourse, whose year-to-date losses stood at 14.7%.
Market capitalisation saw about QR3bn, or 0.52%, increase to QR504.91bn mainly owing to small and midcap segments.
Islamic stocks were seen gaining slower than the other indices in the market, where foreign funds continued to be net sellers but with lesser intensity.
Trade turnover fell amidst higher volumes in the market, where the consumer goods, real estate and industrials sectors together accounted for more than three-fourth of the total trading volume.
The Total Return Index rose 0.33% to 17,095.43 points, the All Share Index by 0.48% to 2,759.03 points and the Al Rayan Islamic Index (Price) by 0.2% to 1,987.21 points.
The insurance index soared 2.17%, industrials (1.53%), and banks and financial services (0.56%); whereas real estate declined 1.46%, transport (1.37%), consumer goods and services (0.6%) and telecom (0.02%).
Major gainers included Qatar Insurance, Qatar National Cement, Qatar Industrial Manufacturing, Qatari Investors Group, Industries Qatar, QNB and Qatar German Company for Medical Devices; even as more than 70% of the traded constituents were in the red with major losers being Qamco, Gulf International Services, Commercial Bank, Alijarah Holding, Dlala, Qatar Oman Investment, Islamic Holding Group, Salam International Investment, Medicare Group, Widam Food and Mannai Corporation.
Local retail investors’ net buying increased influentially to QR10.21mn against QR5.29mn on May 11.
Gulf institutions turned net buyers to the tune of QR3.24mn compared with net sellers of QR5.04mn on Monday.
Arab funds were also net buyers to the extent of QR0.2mn against net sellers of QR0.04mn the previous day.
Foreign institutions’ net selling decreased noticeably to QR20.86mn compared to QR26.41mn on May 11.
However, foreign individuals’ net profit booking grew considerably to QR6.36mn against QR0.27mn on Monday.
Arab individuals were net sellers to the extent of QR4mn compared with net buyers of QR1.06mn the previous day.
Gulf individuals turned net sellers to the tune of QR1.32mn against net buyers of QR2.95mn on May 11.
Domestic funds’ net buying eased distinctively to QR18.89mn compared to QR22.46mn on Monday.
Total trade volumes rose 1% to 160.14mn shares, while value fell 3% to QR294.22mn despite a 7% higher transactions at 9,688.
The consumer goods and services sector’s trade volume grew more than five-fold to 46.86mn equities and value gained 36% to QR55.53mn on more than doubled deals to 1,597.
The banks and financial services sector saw a 22% surge in trade volume to 19.49mn stocks, 26% in value to QR87.6mn and 24% in transactions to 3,423.
The transport sector’s trade volume shot up 17% to 7.54mn shares, value by 18% to QR21.88mn and deals by 33% to 825.
There was a 1% rise in the insurance sector’s trade volume to 6.21mn equities, 13% in value to QR12.24mn and 20% in transactions to 475.
However, the telecom sector’s trade volume plummeted 58% to 6.11mn stocks, 57% in value to QR10.85mn and 50% in deals to 434.
The industrials sector reported a 41% plunge in trade volume to 31.69mn shares, 22% in value to QR61.24mn and 35% in transactions to 1,370.
The market witnessed a 19% shrinkage in the real estate sector’s trade volume to 42.24mn equities and 25% in value to QR44.89mn but on 2% growth in deals to 1,564.
In the debt market, there was no trading of sovereign bonds and treasury bills.
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