Foreign institutions’ bullish outlook on Wednesday helped the Qatar Stock Exchange to gain 50 points, yet it settled below 10,300 levels.
The insurance, industrials, consumer goods and transport counters witnessed higher than average demand, leading to a 0.5% increase in the 20-stock Qatar Index to 10,277.23 points.
Local retail investors’ increased net buying interests also helped the market, whose key benchmark is down 0.21% year-to-date.
Market capitalisation saw more than QR2bn, or 0.41%, increase to QR566.66bn mainly owing to midcap segments.
Islamic equities were seen gaining faster than the other indices in the market, where domestic funds and non-Qatari individuals turned bearish.
Trade turnover and volumes were on the decline in the bourse, where the banking, industrials and real estate sectors together accounted for more than 79% of the total volume.
The Total Return Index rose 0.5% to 18,910.97 points, the All Share Index by 0.38% to 3,027.04 points and the Al Rayan Islamic Index (Price) by 0.76% to 2,307.29 points.
The insurance index soared 1.24%, industrials (1.12%), consumer goods (0.9%), transport (0.66%) and realty (0.4%); whereas banks and financial services fell 0.04% and telecom (0.02%).
More than 69% of the traded constituents extended gains with major movers being Industries Qatar, Mesaieed Petrochemical Holding, Qatar General Insurance and Reinsurance, Qatar Islamic Insurance, Gulf Warehousing, Nakilat, Ezdan, Doha Bank, Qatar First Bank, Alijarah Holding, Islamic Holding Group, Qatari German Company for Medical Devices and Widam Food; even as QNB, Mannai Corporation, Aamal Company, Doha Insurance, Ooredoo and Milaha were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR20.89mn compared with net sellers of QR34.04mn on Tuesday.
Local retail investors’ net buying increased influentially to QR7.97mn against QR4.86mn the previous day.
The Gulf individuals’ net selling declined marginally to QR0.59mn compared to QR1.41mn on November 12.
However, domestic institutions were net sellers to the extent of QR13.08mn against net buyers of QR22.8mn on Tuesday.
The Gulf funds also turned net sellers to the tune of QR11.29mn compared with net buyers of QR4.86mn the previous day.
Non-Qatari individuals were net profit takers to the extent of QR3.85mn against net buyers of QR2.92mn on Tuesday.
Total trade volume fell 26% to 63.93mn shares, value by 21% to QR202.77mn and transactions by 17% to 6,034.
The industrials sector’s trade volume plummeted 51% to 14.68mn equities, value by 48% to QR24.23mn and deals by 34% to 1,053.
The insurance’s sector reported a 42% plunge in trade volume to 0.86mn stocks, 42% in value to QR2.25mn and 29% in transactions to 122.
The banks and financial services sector’s trade volume tanked 22% to 25.31mn shares, value by 21% to QR128.14mn and deals by 12% to 2,856.
There was a 10% shrinkage in the real estate sector’s trade volume to 10.76mn equities 11% in value to QR10.12mn and 18% in transactions to 451.
The telecom sector’s trade volume shrank 4% to 3.26mn stocks, value by 44% to QR6.87mn and deals by 56% to 353.
However, the transport sector saw a 68% surge in trade volume to 2.69mn shares, 57% in value to QR8.61mn and 38% in transactions to 390.
The consumer goods sector’s trade volume soared 24% to 6.37mn equities, value by 56% to QR22.55mn and deals by 41% to 809.
In the debt market, there was no trading of treasury bills and sovereign bonds.