The Qatar Stock Exchange Wednesday gained 45 points to cross the 11,400 points, mainly on the back of strong buying interests of the Gulf institutions.
The transport, telecom and industrials counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.39% higher at 11,431.15 points, recovering from an intraday low of 11,344 points.
The Gulf individuals turned net buyers, albeit at lower levels, in the market, whose year-to-date gains improved to 9.54%.
The Islamic index was seen gaining slower than the other indices in the bourse, whose capitalisation grew more than QR2bn or 0.31% to QR657.74bn, mainly due to midcap segments.
The domestic institutions’ weakened net selling pressure also had its influence in the market, which saw the industrials and banking sectors together constitute about 63% of the total trading volume.
The overall trade turnover and volumes were on the decline in the main market, where the foreign institutions continued to be net buyers but with lesser intensity.
Local retail investors were seen net profit takers in the market, which saw a total of 58,440 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR634,469 change hands across nine deals.
The Total Return Index gained 0.39% to 22,628.65 points, Al Rayan Islamic Index (Price) by 0.08% to 2,596.69 points and All Share Index by 0.3% to 3,603.35 points in the market, which saw no trading of sovereign bonds and treasury bills.
The transport sector index rose 0.92%, telecom (0.79%), industrials (0.72%), real estate (0.23%) and banks and financial services (0.16%); while insurance declined 0.63% and consumer goods and services 0.13%.
Major gainers in the main market included Industries Qatar, Zad Holding, Milaha, Doha Bank, Ooredoo, Mesaieed Petrochemical Holding, Commercial Bank, Qatar Islamic Insurance, Barwa and Nakilat. In the venture market, Al Faleh Educational Holding saw gains.
Nevertheless, more than 53% of the traded constituents were in the red with major losers being Al Meera, Doha Insurance, Qatar Industrial Manufacturing, Qatar First Bank, Gulf International Services, Qatar Electricity and Water, Qamco, Dlala, Qatari German Medical Devices, Mannai Corporation, Qatar Insurance, Qatar General and Reinsurance and Mazaya Qatar.
The Gulf institutions’ net buying increased substantially to QR19.75mn compared to QR1.92mn on September 28.
The Gulf individuals turned net buyers to the tune of QR0.11mn against net sellers of QR0.24mn the previous day.
The domestic institutions’ net selling fell considerably to QR32.29mn compared to QR53.99mn on Tuesday.
However, local retail investors were net sellers to the extent of QR6.29mn against net buyers of QR9.79mn on September 28.
The foreign institutions’ net buying declined markedly to QR14.51mn compared to QR35.82mn the previous day.
The Arab individuals’ net buying weakened noticeably to QR2.38mn against QR4.21mn on Tuesday.
The foreign individuals’ net buying eased marginally to QR1.83mn compared to QR2.5mn on September 28.
The Arab funds had no major net exposure for the seventh straight session.
Total trade volume fell 43% to 146.62mn shares, value by 21% to QR492.56mn and transactions by 17% to 10,271 in the main market. The venture market had seen 15%, 18% and 27% decline in volume, value and deals respectively.
In the main market, the industrials sector’s trade volume plummeted 61% to 57.1mn equities, value by 50% to QR154.86mn and transactions by 25% to 3,439.
The consumer goods and services sector reported 58% plunge in trade volume to 18.55mn stocks, 40% in value to QR41.46mn and 38% in deals to 907.
The real estate sector’s trade volume tanked 28% to 9.73mn shares, value by 31% to QR15.38mn and transactions by 55% to 481.
There was 17% shrinkage in the insurance’s sector’s trade volume to 3.8mn equities and 11% in value to QR9.81mn but on 36% increase in deals to 192.
However, the transport sector’s trade volume more than doubled to 10.58mn stocks, value soared 64% to QR45.11mn and transactions by 50% to 818.
The telecom sector saw 23% surge in trade volume to 11.88mn shares, 60% in value to QR41.73mn and 20% in deals to 1,116.
The banks and financial services sector’s trade volume was up 5% to 34.98mn equities and value by 17% to QR184.22mn; whereas transactions were down 8% to 3,318.