The Qatar Stock Exchange on Monday saw frenzied trading, especially in the transport sector; amidst overall buying interests in the Islamic equities and six of the seven sectors extended gains.
The bullish outlook of foreign and domestic funds notwithstanding, the 20-stock Qatar Index settled lower for the third consecutive session. It was down 22 points or 0.21% to 10,262.1 points, although it recovered from an intraday low of 10,238 points.
Local and Arab retail investors were increasingly net sellers, while the Gulf funds turned net profit takers in the market, whose year-to-date losses were at 1.57%.
The strong selling particularly in the banking sector was responsible for the overall bearish overhang on the bourse, which, however, witnessed strong demand for the industrials and insurance stocks.
Market capitalisation saw QR6mn or 0.01% gain to QR590.51bn, mainly owing to microcap segments.
A total of 525,931 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued together at QR1.32mn changed hands across 54 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
Trade turnover and volumes were on an expansive mode on the bourse, where the transport sector alone accounted for more than 49% of the total trading volume.
The Total Return Index fell 0.21% to 19,728.55 points and All Share Index by 0.37% to 3,149.43 points; while Al Rayan Islamic Index (Price) gained 0.56% to 2,352.02 points.
The banks and financial services index tanked 1.39%; while telecom index gained 1.35%, industrials (1.27%), insurance (0.73%), consumer goods (0.51%), transport (0.5%) and real estate (0.1%).
Major losers included Commercial Bank, Widam Food, QNB, Al Meera, Qatar Islamic Bank, Doha Bank, Dlala, Mazaya Qatar and Milaha; even as Qatar Industrial Manufacturing, Ezdan, Qamco, Qatar National Cement, Mesaieed Petrochemical Holding, Ahlibank Qatar, QIIB, Medicare Group, Woqod, Qatar Electricity and Water, Qatar Insurance, Vodafone Qatar, Ooredoo and Nakilat were among the gainers.
Qatari individuals’ net selling increased substantially to QR42.51mn compared to QR4.57mn on November 29.
The Gulf institutions turned net sellers to the tune of QR15.29mn against net buyers of QR13.86mn on Sunday.
The Arab individuals’ net profit booking rose perceptibly to QR5.38mn compared to QR1.83mn the previous day.
However, foreign funds’ net buying shot up considerably to QR49.56mn against QR3.6mn on November 29.
Domestic funds turned net buyers to the extent of QR10.58mn compared with net sellers of QR11.97mn on Sunday.
The foreign individuals’ net buying grew markedly to QR3.53mn against QR1.86mn the previous day.
The Arab institutions turned net buyers to the tune of QR0.08mn compared with no major exposure on November 29.
The Gulf individuals’ net profit booking eased marginally to QR0.34mn against QR0.88mn on Sunday.
Total trade volumes more than tripled to 424.29mn shares and value grew more than five-fold to QR1.68bn on more than doubled transactions to 21,0332.
The transport sector’s trade volume rose more than seven-fold to 206.33mn equities and value also by more than seven-fold to QR664.1mn on more than doubled deals to 5,525.
The telecom sector’s trade volume grew more than five-fold to 9.74mn stocks and value by more than eight-fold to QR41.38mn on more than quadrupled transactions to 1,304.
The real estate sector’s trade volume more than doubled to 71.07mn shares and value almost quadrupled to QR158.07mn on more than doubled deals to 2,645.
The banks and financial services sector’s trade volume more than doubled to 72.2mn equities and value expanded more than six-fold to QR580.19mn on almost tripled transactions to 6,797.
The industrials sector’s trade volume more than doubled to 44.43mn stocks and value more than tripled to QR142.63mn on more than tripled deals to 3,359.
There was 87% surge in the insurance sector’s trade volume to 6.41mn shares and 74% in value to QR14.69mn but on 5% shrinkage in transactions to 185.
However, the consumer goods and services sector’s trade volume shrank 15% to 14.11mn equities but value more than doubled to QR79.03mn and deals grew 26% to 1,217.