The increased net buying interests of foreign funds and individuals on Tuesday lifted the Qatar Stock Exchange more than 24 points but overall it failed to break the 11,800 resistance levels.
The consumer goods, banks and insurance counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.21% higher at 11,767.45 points, recovering from an intraday low of 11,721 points.
The foreign individuals were increasingly net buyers in the bourse, whose year-to-date gains improved to 12.76%.
The Gulf individuals were seen net buyers in the market, whose capitalisation saw about QR2bn or 0.25% jump to QR681.42bn, mainly owing to microcap segments.
The Islamic index was seen gaining slower than the other indices in the bourse, where the industrials and banking sectors together constituted about 66% of the total trading volume.
The overall trade turnover and volumes were on the decline in the main market, where the domestic funds were increasingly net sellers.
The Arab individuals were also seen net profit takers in the market, which saw a total of 21,029 exchange traded funds (Masraf Al Rayan sponsored QATR) valued at QR55,636 change hands across five deals.
The Total Return Index rose 0.21% to 23,294.38 points, All Share Index by 0.28% to 3,724.22 points and Al Rayan Islamic Index (Price) by 0.05% to 2,658.85 points in the market, which saw no trading of sovereign bonds and treasury bills.
The consumer goods and services sector index gained 0.43%, banks and financial services (0.39%), insurance (0.24%), industrials (0.18%), transport (0.1%) and realty (0.02%); while telecom declined 0.6%.
Major movers in the main market included Gulf International Services, Medicare Group, Qamco, Qatar General Insurance and Reinsurance, Mannai Corporation, QNB, Qatari Investors Group, Qatar Islamic Insurance and United Development Company. Al Faleh was seen gaining in the venture market.
Nevertheless, Dlala, Alijarah Holding, Qatar Cinema and Film Distribution, Mazaya Qatar, Salam International Investment, Qatari German Medical Devices, Industries Qatar, Al Khaleej Takaful, QLM, Ezdan, Ooredoo and Vodafone Qatar were among the losers. Mekdam lost its sheen in the junior bourse.
The foreign institutions’ net buying increased significantly to QR80.37mn compared to QR43.7mn on October 18.
The foreign individuals’ net buying strengthened noticeably to QR2.31mn against QR0.74mn the previous day.
The Gulf individuals turned net buyers to the tune of QR1.26mn compared with net sellers of QR0.95mn on Monday.
The local retail investors’ net selling declined markedly to QR10.94mn against QR29.47mn on October 18.
However, the domestic funds’ net profit booking grew substantially to QR85.44mn compared to QR54.66mn the previous day.
The Arab individuals were net sellers to the extent of QR1.03mn against net buyers of QR3.63mn on Monday.
The Gulf institutions’ net buying decreased drastically to QR13.48mn compared to QR36.25mn on October 18.
The Arab institutions had no major net exposure for the eighth straight session.
Total trade volume in the main market fell 16% to 202.61mn shares, value by 11% to QR601.57mn and transactions by 9% to 13,864.
There was 63% plunge in the insurance’s sector’s trade volume to 0.96mn equities, 53% in value to QR3.44mn and 40% in transactions to 78.
The telecom sector’s trade volume plummeted 47% to 3.03mn stocks, value by 14% to QR12.73mn and deals by 13% to 618.
The banks and financial services sector saw 46% shrinkage in trade volume to 36.04mn shares, 34% in value to QR194.89mn and 13% in transactions to 6,135.
The consumer goods and services sector’s trade volume tanked 46% to 23.62mn equities, value by 14% to QR63.52mn and deals by 6% to 1,641.
The market witnessed 10% contraction in the transport sector’s trade volume to 9.19mn stocks and 10% in value to QR39.2mn but on 11% jump in transactions to 722.
The real estate sector’s trade volume was down 2% to 32.81mn shares, value by 8% to QR44.24mn and deals by 18% to 757.
However, the industrials sector’s trade volume shot up 23% to 96.97mn equities and value by 28% to QR243.55mn; whereas transactions fell 1% to 3,913.
In the venture market, volumes more than doubled and value more than tripled on double deals.