The Qatar Stock Exchange on Wednesday showed resiliency with its index gaining more than 166 points, mainly on the back of strong buying in the banking and real estate counters.
Foreign funds turned bullish as the 20-stock Qatar Index gained 1.46% to 11,552.42 points, recovering from an intraday low of 11,417 points.
The Gulf retail investors were seen net buyers, albeit at lower levels, in the market, whose year-to-date gains were at 10.7%.
The Islamic index was seen gaining faster than the other indices in the bourse, which also saw the Arab institutions turn net buyers.
More than 74% of the traded constituents extended gains in the market, whose capitalisation saw more than QR9bn or 1.45% increase to QR663.39bn, mainly on large cap segments.
The weakened net selling pressure from the Gulf funds and foreign individuals also had its role in the bourse, where the industrials and banking sectors together constituted about 76% of the total trading volume.
The overall trade turnover shrank amidst higher volumes in the main market, which saw a total of 112,090 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR596,110 trade across 15 deals.
However, the both local retail investors and domestic funds were seen net profit takers.
The Total Return Index shot up 1.46% to 22,868.71 points, Al Rayan Islamic Index (Price) by 1.61% to 2,587.27 points and All Share Index by 1.22% to 3,653.62 points.
The banks and financial services sector index shot up 1.63%, realty (1.58%), industrials (1.42%), telecom (1.03%) and transport (0.82%); while insurance declined 1.96% and consumer goods and services (0.32%).
Major gainers in the main market included Investment Holding Group, Qamco, Gulf International Services, Masraf Al Rayan, Widam Food, Aamal Company, Mesaieed Petrochemical Holding, QNB, Qatar Islamic Bank, Qatar Oman Investment, Barwa, Ezdan, Mazaya Qatar and Vodafone Qatar. In the venture market, Mekdam Holding saw its shares gain.
Nevertheless, Qatar Cinema and Film Distribution, Qatar General Insurance and Reinsurance, Qatar Islamic Insurance, Qatar Insurance, Medicare Group, Mannai Corporation and QLM were among the losers in the main market.
The foreign funds turned net buyers to the tune of QR88.41mn compared with net sellers of QR76.5mn on November 30.
The Arab institutions were seen net buyers to the extent of QR0.43mn against no major net exposure for three previous sessions.
The Gulf individuals were net buyers to the extent of QR0.31mn compared with net sellers of QR2.97mn the previous day.
The Gulf institutions’ net selling declined noticeably to QR5.43mn against QR12.63mn on November 30.
The foreign individuals’ net selling weakened markedly to QR2.67mn compared to QR7.37mn on Tuesday.
However, Qatari individuals turned net sellers to the tune of QR60.56mn against net buyers of QR52.75mn the previous day.
The domestic funds were net profit takers to extent of QR19.99mn compared with net buyers of QR43.2mn on November 30.
The Arab individuals turned net sellers to the tune of QR0.52mn against net buyers of QR3.51mn on Tuesday.
Total trade volume in the main market grew 17% to 230.84mn shares, while value declined 41% to QR613.85mn despite 13% higher transactions at 17,429.
The industrials sector’s trade volume soared 80% to 97.63mn equities, while value was down 4% to QR184.33mn amidst 29% higher deals at 3,296.
The market witnessed 43% surge in the consumer goods and services sector’s trade volume to 30.87mn stocks but on 27% shrinkage in value to QR40.83mn despite 15% higher transactions at 1,028.
The banks and financial services sector’s trade volume rose 5% to 77.59mn shares, while value eroded 47% to QR342.43mn amidst 29% rise in deals to 11,539.
However, there was 91% plunge in the insurance sector’s trade volume to 0.57mn equities, 92% in value to QR1.73mn and 45% in transactions to 93.
The telecom sector’s trade volume plummeted 77% to 1.83mn stocks, value by 87% to QR5.03mn and deals by 75% to 281.
The transport sector reported 72% contraction in trade volume to 2.47mn shares, 63% in value to QR12.76mn and 32% in transactions to 433.
The real estate sector’s trade volume tanked 17% to 19.89mn equities, value by 42% to QR26.75mn and deals by 24% to 759.
In the venture market, volume, value and deals were seen declining 75.39%, 69.04% and 63.79% respectively.