Strong buying, especially in the telecom, transport and banking sectors on Tuesday lifted the sentiments on the Qatar Stock Exchange, which inched near 12,700 levels.
Foreign institutions were increasingly net buyers as the 20-stock Qatar Index settled 21 points or 0.16% higher at 12,690.8 points, recovering from an intraday low of 12,592 points.
The Islamic index was seen declining vis-à-vis gains in the other indices in the market, which was up 9.16% year-to-date.
The weakened net selling pressure from the domestic funds had its role in the bourse, whose capitalisation saw more than QR1bn or 0.2% increase to QR718.69bn, mainly on the back of midcap segments.
The local retail investors’ lower net profit booking also played it part in the market, where the industrials and consumer goods sectors together accounted for about 70% of the trading volume.
The Arab individuals were nevertheless net sellers in the bourse, which saw a total of 26,638 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR277,570 changed hands across eight deals.
The Gulf individuals were seen increasingly into net selling in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the decline in the bourse, which saw no trading of treasury bills.
The Total Return Index rose 0.16% to 25,218.89 points and the All Share Index by 0.15% to 3,983.45 points, while the Al Rayan Islamic Index (Price) was down 0.1% to 2,821.87 points.
The telecom sector index gained 0.66%, transport (0.65%) and banks and financial services (0.29%); whereas realty declined 0.52%, consumer goods and services (0.43%), insurance (0.21%) and industrials (0.02%).
Major movers in the main market included Doha Insurance, Investment Holding Group, Ahlibank Qatar, Ooredoo, Qatar General Insurance and Reinsurance, QNB, Aamal Company, Nakilat and Milaha.
However, Medicare Group, Dlala, QLM, Vodafone Qatar, Mazaya Qatar, Alijarah Holding, Mesaieed Petrochemical Holding and Al Khaleej Takaful were among the losers in the main market. In the venture market, Mekdam Holding saw its shares depreciate in value.
The foreign institutions’ net buying increased significantly to QR82.67mn compared to QR39.95mn on February 21.
The domestic funds’ net selling declined markedly to QR42.03mn against QR46.96mn the previous day.
Qatari individuals’ net profit booking weakened noticeably to QR6.18mn compared to QR16.86mn on Monday.
However, the Gulf institutions’ net selling increased perceptibly to QR16.77mn against QR10.77mn on February 21.
The Arab individuals turned net sellers to the tune of QR15.71mn compared with net buyers of QR16.36mn the previous day.
The Gulf individuals were net profit takers to the extent of QR1.48mn against net buyers of QR4.81mn on Monday.
The foreign individuals turned net sellers to the tune of QR0.58mn compared with net buyers of QR6.38mn on February 21.
The Arab institutions’ net buying shrank significantly to QR0.08mn against QR7.03mn the previous day.
Total trade volume in the main market fell 37% to 181.63mn shares, value by 25% to QR545.58mn and transactions by 23% to 11,503.
The consumer goods and services sector’s trade volume plummeted 46% to 44.87mn equities, value by 35% to QR77.12mn and deals by 30% to 1,334.
The market witnessed 40% plunge in the industrials sector’s trade volume to 81.57mn stocks, 34% in value to QR225.3mn and 27% in transactions to 3,669.
The real estate sector’s trade volume tanked 38% to 12.77mn shares, value by 42% to QR18.12mn and deals by 46% to 527.
The banks and financial services sector reported 31% shrinkage in trade volume to 25.54mn equities, 16% in value to QR171.37mn and 26% in transactions to 4,119.
The insurance sector’s trade volume dipped 30% to 2.91mn stocks, value by 43% to QR7.4mn and deals by 25% to 222.
However, the telecom sector’s volume more than doubled to 7.97mn shares, value soared 89% to QR23.8mn and transactions by 2% to 804.
The transport sector’s trade volume more than doubled to 6.01mn equities and value more than doubled to QR22.48mn on more than doubled deals to 828.
The venture market saw 71.13% contraction in volumes to 0.56mn stocks, 71.5% in value to QR5.43mn and 85.57% in transactions to 153.
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