The Qatar Stock Exchange on Wednesday witnessed higher than average demand at the insurance, transport and telecom counters as it closed 37 points higher.
The bullish outlook of foreign and Arab individuals lifted the 20-stock Qatar Index 0.36% to 10,248.15 points.
Local retail investors’ weakened net profit booking also helped in sustaining the positive sentiments in the market, whose year-to-date losses were at 1.7%.
The Islamic stocks were seen declining vis-à-vis gains in the other indices in the bourse, which saw more than 51% of the traded constituents in the red.
Market capitalisation saw more than QR1bn, or 0.26%, jump to QR591.04bn, mainly owing to small cap segments.
A total of 10,000 exchange traded funds (Doha Bank sponsored QETF) valued together at QR99,880 changed hands across one deal; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on the decline in the bourse, where the banks, realty and industrials sectors together accounted for about 63% of the total trading volume.
The Total Return Index gained 0.36% to 19,702.31 points and the All Share Index by 0.36% to 3,164.37 points, while the Al Rayan Islamic Index (Price) was down 0.02% to 2,323.75 points.
The insurance index soared 1.86%, transport (0.91%), telecom (0.89%), banks and financial services (0.44%) and industrials (0.17%); whereas realty declined 0.57% and consumer goods and services (0.4%).
Major gainers included Qatar Insurance, Al Khaleej Takaful, Qatar Islamic Insurance, Nakilat, Qatar National Cement, QNB, Commercial Bank, Widam Food, Al Meera and Ooredoo; even as Medicare Group, Mazaya Qatar, Alijarah Holding, Aamal Company, Investment Holding Group, Al Khaliji and Ezdan were among the losers.
Foreign individuals turned net buyers to the tune of QR1.93mn compared with net sellers of QR4.11mn on November 17.
Arab individuals were also net buyers to the extent of QR0.98mn against net sellers of QR8.77mn on Tuesday.
Qatari investors’ net selling weakened considerably to QR0.74mn compared to QR17.25mn the previous day.
However, Gulf individuals’ net profit booking shot up notably to QR4.59mn against QR2.83mn on November 17.
Gulf institutions were net sellers to the tune of QR3.32mn compared with net buyers of QR1.04mn on Tuesday.
Foreign funds turned net sellers to the extent of QR1.97mn against net buyers of QR13.83mn the previous day.
Domestic funds’ net buying eased noticeably to QR7.99mn compared to QR18.04mn on November 17.
Arab institutions continued to have no major exposure.
Total trade volumes fell 20% to 162.5mn shares, value by 17% to QR409.74mn and transactions by 5% to 10,037.
The telecom sector saw a 56% plunge in trade volume to 2.51mn equities, 23% in value to QR12.04mn and 30% in deals to 438.
The insurance sector’s trade volume plummeted 35% to 8.6mn stocks, value by 29% to QR21.39mn and transactions by 30% to 291.
The real estate sector reported a 31% shrinkage in trade volume to 30.38mn shares, 26% in value to QR49.82mn and 9% in deals to 1,348.
The industrials sector’s trade volume tanked 27% to 29.96mn equities, value by 6% to QR46.43mn and transactions by 7% to 1,605.
There was a 16% contraction in the transport sector’s trade volume to 26.59mn stocks, 22% in value to QR84.94mn and 5% in deals to 1,745.
The consumer goods and services sector’s trade volume eased 10% to 22.86mn shares, value by 4% to QR43.36mn and transactions by 23% to 820.
The market witnessed a 2% jump in the banks and financial services sector’s trade volume to 41.6mn equities and 15% in value to QR151.75mn but on 12% growth in deals to 3,790.