The Qatar Stock Exchange on Tuesday largely remained flat amidst increased net buying by Gulf institutions and the bullish outlook of domestic and foreign funds.
The banking sector witnessed higher than average demand as the 20-stock Qatar Index settled mere 0.75 points higher at 9,261.69 points, although it touched a high of 9,286 points intraday.
Foreign individuals were also seen increasingly net buyers in the bourse, whose year-to-date losses remained at 11.17%.
Market capitalisation saw about QR2bn or 0.35% increase to QR530.56bn mainly owing to microcap segments.
Local retail investors and Arab funds were seen bearish in the market, which saw Islamic stocks decline vis-à-vis gains in the other indices.
Trade turnover and volumes were on the increase in the market, where the realty and consumer goods sectors together accounted for about 52% of the total trading volume.
The Total Return Index was up 0.01% to 17,804.52 points and All Share Index by 0.36% to 2,889.32 points, while Al Rayan Islamic Index (Price) fell 0.12% to 2,077.21 points.
The banks and financial services index gained 0.82%, transport (0.09%) and consumer goods and services (0.03%); while telecom declined 0.7%, real estate (0.48%), industrials (0.33%) and insurance (0.21%).
Major gainers included QNB, Qatar First Bank, Dlala, Islamic Holding Group, Qatar Oman Investment, Salam International Investment, Aamal Company, Qamco, Qatar Islamic Insurance and Mazaya Qatar; even as Doha Bank, QIIB, Commercial Bank, Mannai Corporation, Industries Qatar, Ezdan, Barwa, Qatar Insurance, Ooredoo, Vodafone Qatar and Nakilat were among losers.
The Gulf institutions’ net buying increased noticeably to QR8.8mn compared to QR5.94mn on June 22.
Domestic funds turned net buyers to the tune of QR6.17mn against net sellers of QR7.35mn the previous day.
Foreign funds were also net buyers to the extent of QR3.77mn compared with net sellers of QR9.48mn on Monday.
Foreign individuals’ net buying grew considerably to QR3.22mn against QR0.58mn on June 22.
The Gulf individuals turned net buyers to the extent of QR2.72mn compared with net sellers of QR0.41mn the previous day.
However, local retail investors were net sellers to the tune of QR17.06mn against net buyers of QR13.37mn on Monday.
The Arab individuals’ net selling strengthened significantly to QR7.49mn compared to QR2.65mn on June 22.
The Arab institutions were seen net profit takers to the tune of QR0.14mn against no major exposure the previous day.
Total trade volumes grew 16% to 322.6mn shares, value by 32% to QR453.74mn and transactions by 27% to 10,501.
The transport sector’s trade volume soared 83% to 8.84mn equities and value more than doubled to QR27.46mn on more than doubled deals to 679.
The real estate sector saw 74% surge in trade volume to 89.48mn stocks, 57% in value to QR89.4mn and 24% in transactions to 1,831.
The telecom sector’s trade volume shot up 70% to 3.16mn shares and value doubled to QR11.69mn on 52% jump in deals to 484.
The banks and financial services sector reported 53% growth in trade volume to 69.49mn equities, 41% in value to QR173.35mn and 46% in transactions to 3,451.
However, there was 43% plunge in the insurance sector’s trade volume to 4.29mn stocks and 27% in value to QR7.28mn but on 5% rise in deals to 230.
The consumer goods and services sector’s trade volume tanked 19% to 78.11mn equities, whereas value was up 2% to QR78.95mn and transactions by 2% to 1,834.
The market witnessed 1% slip in the industrials sector’s trade volume to 69.29mn equities but on 15% expansion in value to QR65.61mn and 8% in deals to 1,992.
In the debt market, there was no trading of sovereign bonds and treasury bills.