The Qatar Stock Exchange on Wednesday crossed the 10,700 levels, having gained 40 points, mainly on the back of banking and industrials equities.
The Gulf and domestic funds were increasingly net buyers as the 20-stock Qatar Index settled 0.37% higher at 10,708.37 points, recovering from an intraday low of 10,608 points.
Local retail investors’ weakened net selling also had its influence in the market, whose year-to-date gains stood at 2.61%.
Nevertheless, about 64% of the traded constituents were in the red in the bourse, whose capitalisation saw about QR1bn or 0.16% increase to QR619.28bn, mainly owing to microcap segments.
The Gulf individuals’ net selling also weakened in the market, which saw the banking, industrials and consumer goods and services sectors together constitute more than 77% of the total trading volume.
The overall trade turnover fell amidst higher volumes in the bourse, where the foreign funds were seen net profit takers.
The Islamic index was seen declining vis-à-vis gains in the other indices in the market, which saw a total of 12,688 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR30,716 change hands across five deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 0.37% to 21,197.86 points and All Share Index by 0.32% to 3,400.43 points, while Al Rayan Islamic Index (Price) was down 0.08% to 2,438.74 points.
The banks and financial services sector index gained 0.55%, industrials (0.52%) and transport (0.02%); whereas real estate declined 0.97%, insurance (0.55%), consumer goods and services (0.22%) and telecom (0.13%).
Major gainers included Commercial Bank, Qatar National Cement, Doha Bank, Mannai Corporation, Industries Qatar, Al Meera, Qatar Electricity and Water, Mesaieed Petrochemical Holding and Milaha.
Nevertheless, 64% of the trade constituents were in the red with major shakers being Qatar Cinema and Film Distribution, Qatar First Bank, Ezdan, Qatari Investors Group, Qatar Oman Investment, Salam International Investment, Baladna, Qatar Industrial Manufacturing, Investment Holding Group, Qamco, Qatar General Insurance and Reinsurance and United Development Company.
The Gulf institutions’ net buying strengthened markedly to QR7.15mn compared to QR0.15mn on July 27.
The domestic institutions’ net buying increased marginally to QR4.74mn against QR4.28mn the previous day.
Qatari individuals’ net selling decreased notably to QR1.01mn compared to QR3.17mn on Tuesday.
The Gulf individuals’ net profit booking eased marginally to QR0.03mn against QR0.36mn on July 27.
However, foreign funds turned net sellers to the tune of QR5.01mn compared with net buyers of QR0.44mn the previous day.
The Arab individuals’ net profit booking increased noticeably to QR4.19mn against QR2.9mn on Tuesday.
Foreign individuals were net sellers to the extent of QR2.01mn compared with net buyers of QR1.55mn on July 27.
The Arab institutions continued to have no major net exposure for the sixth straight session.
Total trade volume rose 4% to 87.65mn shares, while value fell 4% to QR221.43mn and transactions by 25% to 6,963.
The banks and financial services sector saw 65% surge in trade volume to 24.66mn equities and 22% in value to QR103.65mn but on 6% decline in deals to 3,147.
The consumer goods and services sector’s trade volume soared 15% to 20.03mn stocks and value by 2% to QR27.85mn, whereas transactions were down 10% to 754.
There was 11% expansion in the real estate sector’s trade volume to 13.74mn shares, 13% in value to QR22.09mn and 11% in deals to 743.
However, the telecom sector’s trade volume plummeted 51% to 2.14mn equities, value by 69% to QR7.5mn and transactions by 73% to 473.
The transport sector reported 37% plunge in trade volume to 2.69mn stocks, 30% in value to QR11.38mn and 44% in deals to 447.
The insurance’s trade volume tanked 323% to 1.54mn shares, value by 6% to QR5.82mn and transactions by 52% to 128.
The market witnessed 20% shrinkage in the industrials sector’s trade volume to 22.85mn equities, 18% in value to QR43.14mn and 24% in deals to 1,271.