Foreign funds’ bullish grip Sunday led the Qatar Stock Exchange open the week on a stronger note and its key index inched near the 10,800 levels.
A higher than average buying in the telecom, transport and banking counters helped the 20-stock Qatar Index break three consecutive days of bearish spell to gain 20 points or 0.18% higher at 10,763.11 points, recovering from an intraday low of 10,718 points.
Local retail investors continued to be net buyers but with lesser vigour on the market, whose year-to-date gains were at 3.13%.
Losers were nevertheless seen outnumbering gainers on the bourse, whose capitalisation saw about QR1bn or 0.14% increase to QR624.77bn, mainly owing to mid and small cap segments.
Domestic institutions and the Arab individuals were seen net sellers on the market, which saw the industrials, realty and consumer goods sectors together constituted more than 74% of the total trading volume.
The overall trade turnover and volumes were on the decline on the bourse, where the Islamic equities were seen declining vis-à-vis gains in the other indices.
Both Gulf individuals and institutions turned net profit takers on the market, which saw a total of 161,690 exchange traded funds (Masraf Al Rayan sponsored QATR) valued at QR398,898 changed hands across nine deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index rose 0.18% to 21,306.22 points and All Share Index by 0.11% to 3,412.8points, while Al Rayan Islamic Index (Price) was down 0.13% to 2,488.09 points.
The telecom sector index gained 1.1%, transport (0.86%) and banks and financial services (0.24%); whereas insurance shrank 0.6%, consumer goods and services (0.57%), real estate (0.19%) and industrials (0.11%).
Major gainers included Ooredoo, Milaha, Qatar Oman Investment, Zad Holding, Qatar Islamic Bank, Doha Bank and Al Meera; even as Qatar General Insurance and Reinsurance, Doha Insurance, Gulf International Services, Woqod and Vodafone Qatar were among the losers.
Foreign funds turned net buyers to the tune of QR15.38mn compared with net sellers of QR128.74mn on June 17.
However, domestic funds were net sellers to the extent of QR17.8mn against buyers of QR71.47mn last Thursday.
The Gulf individuals were net sellers to the tune of QR1.95mn compared with net buyers of QR3.74mn the previous day.
The Arab individuals’ net profit booking grew notably to QR1.02mn against QR0.46mn on June 17.
Foreign individuals turned net sellers to the extent of QR0.58mn compared with net buyers of QR3.17mn last Thursday.
The Gulf funds were net profit takers to the tune of QR0.48mn against net buyers of QR12.92mn the previous day.
Qatari individuals’ net buying weakened considerably to QR6.46mn compared to QR37.89mn on June 17.
The Arab institutions continued to have no major net exposure.
Total trade volume decreased by 51% to 106.64mn shares, value by 75% to QR234.37mn and transactions by 55% to 5,643.
The transport sector’s trade volume plummeted 84% to 1.95mn equities, value by 88% to QR6.33mn and deals by 84% to 123.
There was 75% plunge in the telecom sector’s trade volume to 2.7mn stocks, 71% shrinkage in value to QR10.92mn and 49% in transactions to 520.
The industrials sector’s trade volume tanked 64% to 34.48mn shares, value by 84% to QR70.25mn and 69% in deals to 1,423.
The banks and financial services sector saw 47% shrinkage in trade volume to 19.66mn equities, 77% in value to QR60.3mn and 49% in transactions to 1,781.
The consumer goods and services sector’s trade volume shrank 36% to 21.42mn stocks, value by 50% to QR35.58mn and deals by 41% to 770.
The insurance sector reported 13% contraction in trade volume to 2.97mn shares, 13% in value to QR12.14mn and 35% in transactions to 201.
The real estate sector’s trade volume was down 7% to 23.46mn equities, value by 11% to QR38.85mn and deals by 26% to 825.