The Qatar Stock Exchange Tuesday gained more than 13 points, mainly on the back of buying interests of foreign institutions, amid uncertainties ahead of the US Federal Reserve’s meeting.
The telecom, banking, consumer goods and realty counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.1% higher at 12,731.47 points, recovering from an intraday low of 12,641 points.
The Arab individuals were seen net buyers in the market, whose year-to-date gains improved to 9.51%.
The foreign individuals were increasingly bearish in the bourse, whose capitalisation saw about QR2bn or 0.27% jump to QR714.94bn, mainly on the back of midcap segments.
The Islamic index was seen declining vis-a-vis gains in the other indices in the market, where the industrials and banking sectors together constituted about 66% of the total trading volume.
The domestic funds’ weakened net selling had its influence in the bourse, which saw a total of 454,389 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.42mn changed hands across 73 deals.
Nevertheless, local retail investors turned net profit takers in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the increase in the bourse, which saw no trading of treasury bills.
The Total Return Index was up 0.1% to 26,078.19 points and All Share Index by 0.28% to 4,066.89 points, while Al Rayan Islamic Index (Price) was down 0.05% to 2,785.34 points.
The telecom sector index gained 0.92%, banks and financial services (0.81%), consumer goods and services (0.78%) and realty (0.16%); while industrials declined 0.99%, insurance (0.27%) and transport (0.14%).
Major gainers in the main market included QNB, Woqod, QLM, Ooredoo, Mesaieed Petrochemical Holding, QIIB, Widam Food and Qatar General Insurance and Reinsurance. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.
Nevertheless, more than 65% of the traded constituents in the main market were in the red and included Qatar Islamic Insurance, Industries Qatar, Qamco, Qatari Investors Group, Commercial Bank, Qatar First Bank, Qatar National Cement, Gulf International Services, Ezdan and Mazaya Qatar. In the juniour bourse, Mekdam Holding saw its shares depreciate in value.
The foreign funds turned net buyers to the tune of QR108.83mn compared with net sellers of QR13.78mn on June 13.
The Arab individuals were net buyers to the extent of QR10.22mn against net sellers of QR9.01mn on Monday.
The foreign individuals’ net buying grew marginally to QR6.95mn compared to QR6.33mn the previous day.
The Arab institutions turned net buyers to the tune of QR0.73mn against no major net exposure on June 13.
The domestic institutions’ net selling declined noticeably to QR54.2mn compared to QR71.76mn on Monday.
However, Qatari individuals were net sellers to the extent of QR59.7mn against net buyers of QR67.62mn the previous day.
The Gulf funds turned net profit takers to the tune of QR11.87mn compared with net buyers of QR19.84mn on June 13.
The Gulf individuals were net sellers to the extent of QR0.96mn against net buyers of QR0.77mn on Monday.
Total trade volume in the main market rose 3% to 156.73mn shares, value by 4% to QR701.65mn and transactions by 24% to 27,396.
The insurance sector’s trade volume more than tripled to 3.07mn equities and value almost tripled to QR8.56mn on more than doubled deals to 321.
The transport sector’s trade volume soared 50% to 6.84mn stocks, value by 54% to QR35.19mn and transactions by 44% to 1,273.
The banks and financial services sector reported 11% expansion in trade volume to 45.07mn shares, 21% in value to QR382mn and 23% in deals to 14,450.
However, the telecom sector’s trade volume plummeted 38% to 2.98mn equities and value by 3% to QR18.26mn, while transactions almost doubled to 1,678.
There was 10% contraction in the consumer goods and services sector’s trade volume to 20.83mn stocks, 43% in value to QR42.86mn and 24% in deals to 1,533.
The real estate sector’s trade volume was down 3% to 19.96mn shares, whereas value gained 1% to QR31.11mn and transactions by 38% to 1,822.
The market witnessed less than 1% fall in the industrials sector’s trade volume to 57.98mn equities and 11% in value to QR183.67mn but on 23% growth in deals to 6,319.
In the venture market, trade volumes were seen flat at 0.05mn stocks; even as value shrank 10.26% to QR0.35mn and transactions by 20% to 36.