Ahead of closing the year 2020, the Qatar Stock Exchange on Wednesday gained about 35 points to cross the 10,500 levels, mainly lifted by foreign institutions.
The transport, consumer goods, industrials and banking counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.33% higher at 10,534.65 points, having recovered from an intraday low of 10,487 points.
Foreign individuals as well as Arab and Gulf funds were seen bullish in the market, whose year-to-date gains were at 1.05%.
Trade turnover and volumes were on the decline in the bourse, where the industrials and banking sectors together accounted for about 59% of the total trading volume.
Islamic equities were seen gaining slower than the other indices in the market, whose capitalisation saw more than QR1bn or 0.17% increase to QR607.61bn, mainly on mid and small cap segments.
A total of 26,750 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR182,795 changed hands across five deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 0.33% to 20,252.51 points, the Al Rayan Islamic Index (Price) by 0.3% to 2,410.7 points and the All Share Index by 0.3% to 3,227.59 points.
The transport index gained 0.92%, consumer goods and services (0.64%), industrials (0.42%), banks and financial services (0.37%) and real estate (0.17%); while telecom and insurance declined 2.08% and 0.69% respectively.
More than 62% of the traded constituents extended gains with major movers being Nakilat, Qatar Oman Investment, Woqod, Widam Food, Gulf International Services, QNB, Mesaieed Petrochemical Holding, Barwa and Qatar Insurance; even as Qatar General Insurance and Reinsurance, Zad Holding, Ooredoo, Ahlibank Qatar and Qatari German Medical Devices were among the losers.
Foreign funds turned net buyers to the tune of QR9.98mn compared with net sellers of QR23.57mn on December 29.
Foreign individuals were also net buyers to the extent of QR2.28mn against net sellers of QR0.52mn on Tuesday.
Arab institutions turned net buyers to the tune of QR0.94mn compared with no major exposure the previous day.
Gulf funds were also net buyers to the extent of QR0.44mn against net profit takers of QR4.89mn on December 29.
However, domestic funds turned net sellers to the tune of QR28.29mn compared with net buyers QR12.58mn on Tuesday.
Arab individuals’ net selling strengthened markedly to QR3.44mn against QR2.04mn the previous day.
Gulf individuals’ net profit booking rose marginally to QR0.62mn compared to QR0.52mn on December 29.
Local retail investors’ net buying weakened marginally to QR18.7mn against QR18.99mn on Tuesday.
Total trade volumes fell 18% to 82.98mn shares and value by less than 1% to QR258.6mn, while transactions were up 1% to 5,795.
The telecom sector reported a 27% plunge in trade volume to 4.55mn equities, 3% in value to QR20.69mn and 12% in deals to 764.
The banks and financial services sector’s trade volume plummeted 21% to 27.73mn stocks, whereas value gained 8% to QR139.46mn and transactions by 18% to 2,227.
The consumer goods and services sector saw a 20% shrinkage in trade volume to 12.03mn shares, 1% in value to QR27.52mn and 7% in deals to 751.
The real estate sector’s trade volume tanked 12% to 11.74mn equities and value by 10% to QR20.68mn, while transactions shot up 24% to 663.
There was a 3% contraction in the industrials sector’s trade volume to 20.96mn stocks, 26% in value to QR30.42mn and 27% in deals to 847.
The insurance sector’s trade volume soared 60% to 2.48mn shares, value by 65% to QR5.67mn and transactions by 41% to 159.
The market witnessed a 24% surge in the transport sector’s trade volume to 3.49mn equities, 12% in value to QR14.16mn and 1% in deals to 384.