The Islamic equities Wednesday witnessed strong buying interests in the Qatar Stock Exchange, which otherwise settled flat for the second consecutive day.
More than 54% of the traded constituents extended gains; even as the 20-stock Qatar Index settled almost flat at 10,478.61 points, having touched an intraday high of 10,526 points.
There was strong demand for the transport and telecom sectors in the market, whose year-to-date gains were limited at 0.51%.
Trade turnover and volumes were on the increase in the bourse, where the banking and industrials sectors together accounted for about 59% of the total trading volume.
Local retail investors were increasingly net profit takers and the Gulf funds turned bearish in the market, whose capitalisation saw about QR2bn or 0.32% decrease to QR603.82bn, mainly on small and microcap segments.
A total of 45,500 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank-sponsored QETF) valued at QR108,467 changed hands across seven deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index was down 0.02% to 20,144.77 points and All Share Index by 0.18% to 3,208.32 points, while Al Rayan Islamic Index (Price) rose 0.16% to 2,400.87 points.
The insurance index declined 0.74%, industrials (0.55%), real estate (0.3%), banks and financial services (0.15%) and consumer goods and services (0.07%); while transport and telecom gained 0.78% and 0.22% respectively.
Major losers included Inma Holding, United Development Company, QNB, Industries Qatar, United Development Company, Qatar Insurance and Qatar Electricity and Water; even as Gulf International Services, Qatari German Medical Devices, Qatar Islamic Bank, Qamco, Mannai Corporation, Qatar National Cement, Commercial Bank and Gulf Warehousing were among the gainers.
Local individuals’ net profit booking increased considerably to QR54.77mn against QR8.09mn on December 15.
The Gulf institutions turned net sellers to the tune of QR1.5mn compared with net buyers of QR15.03mn on Tuesday.
The Arab institutions’ net buying eased markedly to QR0.04mn against QR0.58mn the previous day.
However, foreign funds’ net buying grew substantially to QR70.67mn compared to QR19.56mn on December 15.
The Gulf individuals’ net buying grew perceptibly to QR5.85mn against QR1.59mn on Tuesday.
The foreign individuals were net buyers to the extent of QR0.14mn compared with net sellers of QR1.1mn the previous day.
The domestic funds’ net selling declined noticeably to QR15.12mn against QR20.18mn on December 15.
The Arab individuals’ net profit booking fell marginally to QR5.42mn compared to QR7.47mn on Tuesday.
Total trade volumes grew 30% to 184.77mn shares, value by 75% to QR713.11mn and transactions by 19% to 11,306.
The transport sector’s trade volume almost tripled to 16.3mn equities and value more than doubled to QR56.06mn but on 14% fall in deals to 629.
The consumer goods and services sector’s trade volume soared 65% to 26.56mn stocks and value more than doubled to QR62.87mn on 23% jump in transactions to 1,272.
There was 25% surge in the telecom sector’s trade volume to 11.66mn shares, 51% in value to QR70.4mn and 20% in deals to 1,733.
The industrials sector’s trade volume shot up 24% to 45.61mn equities and value by 55% to QR84.84mn, whereas transactions were down 1% to 1,601.
The banks and financial services sector saw 21% expansion in trade volume to 62.8mn stocks, 89% in value to QR397.7mn and 33% in deals to 4,816.
The real estate sector’s trade volume grew 12% to 19.94mn shares, value by 20% to QR36.47mn and transactions by 35% to 1,167.
However, the insurance sector reported 54% plunge in trade volume to 1.9mn equities, 61% in value to QR4.76mn and 58% in deals to 88.