Increased buying interests of foreign institutions on Wednesday led the Qatar Stock Exchange (QSE) into a positive trajectory to inch near 10,000 levels.
Transport, real estate and banking counters witnessed higher than average demand, leading to a 0.2% jump in the 20-stock Qatar Index to 9,976.8 points.
Local retail investors continued to be net sellers but with lesser intensity in the market, whose sensitive index is down 3.13% year-to-date.
Market capitalisation expanded more than QR2bn or 0.42% to QR563.43bn mainly owing to large and microcap segments.
Islamic equities were seen gaining faster than the main index in the market, where domestic institutions turned net profit takers.
Trade turnover and volumes were on the decline in the bourse, where industrials, realty and banking sectors together accounted for more than 82% of the total volume.
The Total Return Index gained 0.56% to 18,205.11 points, All Share Index by 0.72% to 3,046.06 points and Al Rayan Islamic Index (Price) by 0.32% to 2,363.49 points.
The transport index soared 1.96%, real estate (1.12%), banks and financial services (0.93%), insurance (0.34%) and industrials (0.13%); whereas consumer goods and telecom declined 0.05% and 0.04% respectively.
More than 53% of the traded constituents extended gains with major movers being Ezdan, QNB, Qatar Islamic Bank, QIIB, Alijarah Holding, Doha Insurance and Milaha; even as Nakilat, Ooredoo, Al Khaleej Takaful, Qatari German Company for Medical Devices and Commercial Bank were among the losers.
Non-Qatari institutions’ net buying increased influentially to QR34.19mn compared to QR27.19mn on Tuesday.
Non-Qatari individuals turned net buyers to the tune of QR2.37mn against net sellers of QR18.18mn on March 19.
Local retail investors’ net profit booking eased considerably to QR22.08mn compared to QR53.4mn the previous day.
The Gulf institutional investors’ net selling weakened marginally to QR4.34mn against QR4.75mn on Tuesday.
However, domestic funds were net sellers to the extent of QR8.19mn compared with net buyers of QR48.9mn on March 19.
The Gulf individuals turned net profit takers to the tune of QR1.91mn against net buyers of QR0.2mn the previous day.
Total trade volume fell 38% to 8.44mn shares, value by 48% to QR211.71mn and transactions by 20% to 5,337.
The banks and financial services sector’s trade volume plummeted 64% to 1.58mn equities, value by 54% to QR68.36mn and deals by 15% to 1,014.
The consumer goods sector reported 59% plunge in trade volume to 0.2mn stocks, 67% in value to QR19.62mn and 47% in transactions to 263.
The transport sector’s trade volume tanked 36% to 0.63mn shares and value by 66% to QR12.72mn, while deals gained 68% to 348.
There was 28% shrinkage in the real estate sector’s trade volume to 2.52mn equities, 29% in value to QR41.66mn and 21% in transactions to 1,333.
The industrials sector’s trade volume declined 21% to 2.86mn stocks, value by 42% to QR48.75mn and deals by 31% to 1,763.
However, the insurance sector saw 18% surge in trade volume to 0.2mn shares but on 29% decline in value to QR3.77mn and 14% in transactions to 145.
The telecom sector’s trade volume shot up 7% to 0.46mn equities, value by 33% to QR16.83mn and deals by 19% to 471.
In the debt market, there was no trading of treasury bills and sovereign bonds.