The Qatar Stock Exchange on Tuesday witnessed incessant gyrations mainly on sustained increased buying interests of foreign and domestic funds, leading its key barometer inch near the 10,300 levels.
An across the board buying – particularly in the insurance and telecom counters – lifted the 20-stock Qatar Index 53 points or 0.52% to 10,294.79 points.
The local retail investors’ weakened net selling pressure also had role in the bourse, whose year-to-date losses declined to 1.35%.
The Islamic stocks were seen gaining slower than the other indices in the market, whose capitalisation saw QR3bn or 0.5% increase to QR597.32bn, mainly owing to mid and small cap segments.
About 49% of the traded constituents extended gains to investors in the bourse, which saw increased net selling pressure from both Gulf funds and individuals.
Trade turnover and volumes were on the increase in the market, where the industrials sector alone accounted for about 55% of the trading volume.
A total of 247,626 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR1.19mn changed hands across 27 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 0.6% to 20,291.15 points, the All Share Index by 0.55% to 3,255.48 points and the Al Rayan Islamic Index (Price) by 0.01% to 2,368.81 points.
The insurance sector index soared 3.39%, telecom (2.58%), transport (0.52%), banks and financial services (0.44%), consumer goods and services (0.35%), real estate (0.22%) and industrials (0.1%).
Major gainers included Qatar Insurance, Ooredoo, Commercial Bank, Ezdan, Vodafone Qatar, Milaha, QNB, industries Qatar, Medicare Group, QLM, Qatar Islamic Insurance and Gulf Warehousing; even as Mannai Corporation, Ahlibank Qatar, Doha Bank, Al Khaleej Takaful, Qatar National Cement, Baladna and Mesaieed Petrochemical Holding were among the losers.
The foreign institutions’ net buying increased noticeably to QR42.14mn compared to QR31.03mn on March 15.
The domestic funds’ net buying strengthened markedly to QR20.32mn against QR17.62mn the previous day.
Local retail investors’ net profit booking declined perceptibly to QR39.23mn compared to QR46.49mn on Monday.
However, the Gulf individuals’ net selling shot up significantly to QR11.96mn against QR0.55mn on March 15.
The Arab individuals turned net sellers to the tune of QR6.18mn compared with net buyers of QR1.02mn the previous day.
The Gulf institutions’ net profit booking grew notably to QR5.14mn against QR4.67mn on Monday.
The Arab funds were net sellers to the extent of QR0.02mn compared with net buyers of QR0.1mn on March 15
The foreign individuals’ net buying weakened perceptibly to QR0.09mn against QR1.91mn the previous day.
Total trade volume grew 23% to 219.39mn shares and value by 7% to QR454.6mn, while transactions were down 7% to 9,732.
The market witnessed a 32% plunge in the consumer goods and services sector’s trade volume to 36.08mn equities, 19% in value to QR66.03mn and 15% in deals to 1,640.
The banks and financial services sector’s trade volume plummeted 12% to 25.12mn stocks, value by 18% to QR121.23mn and transactions by 30% to 2,621.
The transport sector reported a 2% shrinkage in trade volume to 6.96mn shares and 2% in value to QR48.09mn but on 26% growth in deals to 717.
However, the telecom sector’s trade volume more than doubled to 10.42mn equities and value also more than doubled to QR42.99mn on 12% jump in transactions to 944.
There was a 75% surge in the industrials sector’s trade volume to 120.18mn stocks, 43% in value to QR133.47mn and 17% in deals to 2,653.
The insurance sector’s trade volume soared 73% to 6.13mn shares, value by 50% to QR18.17mn and transactions by 53% to 514.
The real estate sector saw an 11% expansion in trade volume to 14.5mn equities and 16% in value to QR24.63mn but on 14% contractions in deals to 643.
