The foreign and domestic institutions’ increased buying interests on Wednesday lifted the Qatar Stock Exchange more than 30 points and its key index inched near the 10,800 levels.
Higher than average demand, especially in the industrials, telecom and transport counters led the 20-stock Qatar Index to gain 0.28% to 10,799.22 points, having recovered from an intraday low of 10,728 points.
The weakened net selling by the Gulf individuals was also seen helping the positive sentiments in the market, whose year-to-date gains were at 3.48%.
More than 51% of the traded constituents extended gains to investors in the bourse, whose capitalisation saw more than QR1bn or 0.24% increase to QR626.03bn, mainly on mid and small cap segments.
Trade turnover grew amidst lower volumes in the market, where the Islamic equities were seen gaining slower than the other indices.
Local retail investors and the Gulf funds were seen increasingly into profit booking in the market, where the banking and consumer goods and services sectors accounted for about 53% of the total trading volume.
A total of 17,259 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR103,394 changed hands across two deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index rose 0.28% to 20,761.14 points and the All Share Index by 0.15% to 3,307.59 points, while the Al Rayan Islamic Index (Price) was down 0.06% to 2,436.36 points.
The industrials index gained 1.74%, telecom (1.64%), transport (0.89%) and insurance (0.2%); whereas banks and financial services declined 0.51%, real estate (0.31%) and consumer goods and services (0.25%).
Major gainers included Qatari German Medical Devices, Dlala, QLM, Qatar First Bank, Industries Qatar, Aamal Company, Doha Insurance, Ooredoo and Milaha; even as Inma Holding, Masraf Al Rayan, Qatar Industrial Manufacturing, Al Khaliji, Qatari Investors Group and Al Meera Consumer Goods were among the losers.
The foreign institutions’ net buying strengthened substantially to QR44.18mn compared to QR30.27mn on January 19.
The domestic institutions’ net buying enhanced significantly to QR24.88mn against QR2.46mn the previous day.
The Gulf individuals’ net profit booking weakened marginally to QR0.37mn compared to QR0.56mn on Tuesday.
However, Qatari retail investors’ net selling rose markedly to QR41.96mn against QR34.64mn on January 19.
The Gulf funds’ net selling also increased noticeably to QR26.24mn compared to QR1.57mn the previous day.
The foreign individuals were net sellers to the extent of QR2.4mn against net buyers of QR1.57mn on Tuesday.
The Arab funds turned net profit takers to the tune of QR0.07mn compared with net buyers of QR0.15mn on January 19.
The Arab individuals’ net buying eased perceptibly to QR1.84mn against QR2.41mn the previous day.
Total trade volume fell 2% to 221.7mn shares, while value rose 10% to QR614.42mn despite 14% lower transactions at 11,849.
The realty sector’s trade volume plummeted 47% to 35.29mn equities, value by 45% to QR66.74mn and deals by 53% to 1,372.
The transport sector reported a 29% plunge in trade volume to 5.16mn stocks, 30% in value to QR21.44mn and 1% in transactions to 636.
The consumer goods and services sector’s trade volume tanked 20% to 44.72mn shares, while value was up 5% to QR108.32mn despite 1% lower deals at 1,877.
However, the insurance sector’s trade volume more than doubled to 15.66mn equities and value also more than doubled to QR40.4mn on a 34% increase in transactions to 733.
There was a 50% surge in the telecom sector’s trade volume to 9.65n stocks and 6% in value to QR31.81mn but on a 12% decline in deals to 1,014.
The banks and financial services sector’s trade volume shot up 46% to 71.87mn shares and value by 32% to QR277.14mn; whereas transactions were down 10% to 4,549.
The industrials sector saw a 17% expansion in trade volume to 39.36mn equities, 48% in value to QR68.57mn and 7% in deals to 1,668.
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