The foreign funds on Wednesday turned bullish in the Qatar Stock Exchange, which otherwise was on a roller-coaster drive to finally settle almost flat.
The Arab individuals were seen increasingly into net buying as the 20-stock Qatar Index closed mere 0.03% higher at 10,916.13 points, having recovered from an intraday low of 10,886 points and touched an intraday high of 10,932 points.
More than 51% of the traded constituents saw appreciation in their share prices in the market, whose year-to-date gains were at 4.6%.
The insurance, consumer goods, banking and transport counters witnessed higher than average demand in the bourse, whose capitalisation saw more than QR2bn or 0.35% increase to QR635.09bn mainly due to small and microcap segments.
The Gulf institutions were also seen bullish in the market, which saw the industrials sector alone constitute about 59% of the total trading volume.
The overall trade turnover grew amidst lower volumes in the bourse, where the foreign and local retail investors were increasingly net profit takers.
The Islamic index was seen declining vis-à-vis gains in the other indices in the market, which saw a total of 55,250 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR544,785 change hands across seven deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index was up 0.03% to 21,609.14 points and All Share Index by 0.27% to 3,478.48 points, while Al Rayan Islamic Index (Price) declined 0.36% to 2,496.46 points.
The insurance sector index shrank 0.77%, consumer goods and services (0.53%), banks and financial services (0.5%) and transport (0.21%); while real estate gained 0.41%, industrials (0.32%) and telecom (0.07%).
Major gainers included Zad Holding, Commercial Bank, QNB, Doha Bank, Qatari Investors Group, Qatar National Cement, Qatar Electricity and Water, Qamco, Qatar Insurance and Milaha.
Nevertheless, Investment Holding Group, Qatari German Medical Devices, Qatar Islamic Bank, Qatar Oman Investment, Masraf Al Rayan, Dlala, Aamal Company, Industries Qatar, Gulf International Services and Mesaieed Petrochemical Holding were among the losers.
Foreign funds turned net buyers to the tune of QR30.05mn against net sellers of QR5.13mn on August 10.
The Arab individuals’ net buying grew considerably to QR11.38mn compared to QR1.23mn the previous day.
The Gulf funds were net buyers to the extent of QR4.74mn against net buyers of QR3.74mn on Tuesday.
However, the foreign individuals’ net selling grew significantly to QR26.95mn compared to QR1.3mn on August 10.
Qatari individuals’ net selling also increased substantially to QR17.55mn against QR9.02mn the previous day.
Domestic funds turned net sellers to the tune of QR1.75mn compared with net buyers of QR16.72mn on Tuesday.
The Gulf individuals’ net buying weakened notably to QR0.07mn against QR1.25mn on August 10.
The Arab institutions had no major net exposure for the ninth straight session.
Total trade volume fell 4% to 184.07mn shares, while value rose 3% to QR399.65mn and transactions by 12% to 9,918.
The market witnessed 51% plunge in the transport sector’s trade volume to 1.78mn equities, 55% in value to QR5.97mn and 22% in deals to 353.
The real estate sector’s trade volume plummeted 10% to 12.74mn stocks, value by 15% to QR17.28Mn and transactions by 24% to 610.
The market witnessed 9% shrinkage in the consumer goods and services sector’s trade volume to 32.9mn shares but on 3% jump in value to QR55.6mn and 7% in deals to 1,246.
The industrials sector’s trade volume was down 2% to 108.4mn equities, value by 15% to QR157.29mn and transactions by 5% to 3,327.
However, the insurance’s trade volume more than doubled to 1.98mn stocks and value almost doubled to QR5.89mn on 68% expansion in deals to 229.
There was 22% surge in the telecom sector’s trade volume to 2.14mn shares but on 19% contraction in value to QR6.16mn despite 1% higher transactions at 358.
The banks and financial services sector saw 1% jump in trade volume to 24.13mn equities, 47% in value to QR151.47mn and 56% in deals to 3,795.