Arab funds’ increased net buying and their domestic counterparts’ bullish outlook on Monday lifted the Qatar Stock Exchange by another 17 points; but the key barometer failed to break the 10,500 levels.
A higher than average demand for the banking, consumer goods and industrials equities led the 20-stock Qatar Index to gain 0.16% to 10,481.96 points, having regained from an intraday low of 10,427 points.
Arab funds’ net buying marginally increased and Gulf individuals turned bullish, albeit at lower levels, in the market, whose year-to-date gains were at 0.54%.
Trade turnover gained amidst lower volumes in the bourse, where the banking, real estate and industrials sectors together accounted for more than 77% of the total trading volume.
The Islamic stocks were seen treading a flat course in the bourse, which otherwise saw losers outnumber gainers.
Market capitalisation saw about QR2bn or 0.26% increase to QR606.97bn, mainly on small and microcap segments.
A total of 31,428 exchange traded funds valued at QR75,197 changed hands across five deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index rose 0.16% to 20,151.21 points and the All Share Index by 0.16% to 3,218.15 points; while the Al Rayan Islamic Index (Price) was unchanged at 2,399.94 points.
The telecom index grew 1.55%, consumer goods and services (0.38%), banks and financial services (0.28%) and industrials (0.21%); whereas insurance declined 0.87%, transport (0.7%) and realty (0.61%).
Major gainers included Ooredoo, Industries Qatar, Medicare Group, Woqod, Qatar Islamic Insurance, QNB, Ezdan and Gulf International Services; while about 57% of the traded constituents were in the red with major losers being Qatari German Medical Devices, Qatar First Bank, Inma Holding, Salam International Investment, Widam Food, Al Meera, Baladna, Milaha and Qatar Insurance.
Gulf institutions’ net buying increased significantly to QR15.33mn against QR2.98mn on December 13.
Domestic funds turned net buyers to the tune of QR8.54mn compared with net sellers of QR8.85mn the previous day.
Arab institutions’ net buying grew perceptibly to QR0.25mn against QR0.03mn on Sunday.
Gulf individuals were net buyers to the extent of QR0.08mn compared with net sellers of QR0.21mn on December 13.
However, foreign funds’ net selling shot up substantially to QR11.74mn against QR1.68mn the previous day.
Local individuals’ net selling also strengthened notably to QR11.19mn compared to QR9.13mn on Sunday.
Arab individuals turned net sellers to the tune of QR2.22mn against net buyers of QR13.13mn on December 13.
Foreign individuals’ net buying eased perceptibly to QR0.97mn compared to QR3.72mn the previous day.
Total trade volumes fell 12% to 141.59mn shares, while value grew 11% to QR389.97mn and transactions by 43% to 10,078.
The banks and financial services sector’s trade volume plummeted 48% to 45.17mn equities and value by 29% to QR166.76mn, while deals were up 6% to 3,953.
The consumer goods and services sector reported an 8% decline in trade volume to 15.71mn stocks but on a 52% increase in value to QR37.47mn and 17% in transactions to 902.
However, the insurance sector’s trade volume grew almost five-fold to 3.53mn shares and value by almost five-fold to QR7.45mn on more than tripled deals to 161.
The telecom sector’s trade volume more than doubled to 7.25mn equities and value rose by more than five-fold to QR36.76mn on more than quadrupled transactions to 926.
The transport sector saw a 62% surge in trade volume to 5.94mn stocks and 55% in value to QR19.93mn on more than doubled deals to 691.
The real estate sector’s trade volume shot up 51% to 38.39mn shares and value by 61% to QR68.2mn on more than doubled transactions to 2,085.
The market witnessed an 8% jump in the industrials sector’s trade volume to 25.6mn equities on more than doubled value to QR53.41mn and a 32% surge in deals to 1,360.