Foreign and Gulf institutions turned bullish yesterday to overall lift the Qatar Stock Exchange 63 points and place its key index near 10,300 levels.
The telecom, industrials, real estate and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.62% higher at 10,283.68 points, ending three days of bearish spell.
Domestic institutions’ buying interests however considerably weakened in the market, whose key benchmark is down 0.15% year-to-date.
Market capitalisation saw more than QR4bn, or 0.78%, increase to QR568.94bn mainly owing to mid and small cap segments.
Islamic equities were seen gaining faster than the other indices in the market, where the Gulf individuals continued to be net profit takers but with lesser intensity.
Trade turnover and volumes were on the decline in the bourse, where the real estate, banking and industrials sectors together accounted for about 79% of the total volume.
The Total Return Index rose 0.62% to 18,922.84 points, the All Share Index by 0.56% to 3,034.43 points and the Al Rayan Islamic Index (Price) by 0.75% to 2,308.56 points.
The telecom index shot up 1.16%, industrials (0.9%), realty (0.88%), consumer goods (0.71%), banks and financial services (0.61%) and transport (0.26%); while insurance plunged 2.24%.
About 49% of the traded constituents extended gains with major movers being Industries Qatar, Ooredoo, Qatar Islamic Bank, Islamic Holding Group, Qatari German Company for Medical Devices, Gulf International Services, Barwa, Milaha and Masraf Al Rayan; even as Commercial Bank, Salam International Investment, Qatar General Insurance and Reinsurance, Al Khaleej Takaful, Ezdan and Gulf Warehousing were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR15.44mn compared with net sellers of QR43.79mn on October 27.
Gulf institutions were also net buyers to the extent of QR5.47mn against net profit takers of QR20.44mn the previous day.
Gulf individuals’ net selling weakened marginally to QR5.77mn compared to QR5.84mn on Tuesday.
However, local retail investors turned net sellers to the tune of QR3.9mn against net buyers of QR12.12mn on October 27.
Non-Qatari individuals were also net sellers to the extent of QR1.47mn compared with net buyers of QR0.24mn the previous day.
Domestic institutions’ net buying declined influentially to QR0.2mn against QR57.74mn on Tuesday.
Total trade volume fell 20% to 62.72mn shares, value by 25% to QR177.51mn and transactions by 11% to 4,373.
The telecom sector’s trade volume plummeted 50% to 2.74mn equities, value by 8% to QR14.63mn and deals by 24% to 551.
There was a 37% plunge in the industrials sector’s trade volume to 14.28mn stocks, 54% in value to QR23.93mn and 24% in transactions to 996.
The transport sector’s trade volume tanked 32% to 2.54mn shares, value by 28% to QR7.19mn and deals by 38% to 153.
The real estate sector saw a 29% shrinkage in trade volume to 18.69mn equities, 36% in value to QR15.43mn and 19% in transactions to 500.
However, the consumer goods sector’s trade volume more than doubled to 5.38mn stocks and value also more than doubled to QR38.58mn on 12% jump in deals to 637.
The insurance sector reported a 31% surge in trade volume to 2.75mn shares and 32% in value to QR7.8mn, whereas transactions were down 3% to 255.
The banks and financial services sector’s trade volume was up 8% to 16.35mn equities, while value shrank 37% to QR69.74mn despite 6% higher deals at 1,281.
In the debt market, there was no trading of treasury bills and sovereign bonds.