Snapping three days of bearish spell, the Qatar Stock Exchange on Tuesday gained 52 points to inch near the 9,800 mark, mainly on the back of buying support from domestic, Gulf and foreign institutions.
Mainly led by realty and telecom sectors, the 20-stock rose 0.54% to 9,756.38 points despite nervousness in the global oil front, ahead of next week’s vote on Brexit.
However, local and non-Qatari retail investors turned net profit takers and there was weakened net buying by their Gulf counterparts in the market where trade turnover increased amid lower volumes.
The Islamic stocks were seen gaining slower than the conventional ones on the bourse, which is down 6.45% year-to-date.
Buying was seen in the large and microcap segments in the market, where banking, real estate, telecom and industrials stocks together constituted more than 90% of the total trading volume.
Market capitalisation was up 0.17% or QR89mn to QR525.92bn as large and microcap equities gained 0.26% and 0.17%; while small and midcaps fell 0.98% and 0.03% respectively.
The Total Return Index gained 0.54% to 15,785.17 points, All Share Index by 0.3% to 2,719.42 points and Al Rayan Islamic Index by 0.15% to 3,785.15 points.
Realty stocks soared 1.62%, telecom (1.15%), insurance (0.38%), transport (0.35%) and banks and financial services (0.01%); but consumer goods and industrials declined 0.5% and 0.35% respectively.
Major gainers included Ezdan, Ooredoo, Nakilat, Commercial Bank, Masraf Al Rayan, Alijarah Holding, Qatar Insurance and United Development Company; even as QNB, Industries Qatar, Qatar National Cement, Qatari Investors Group, Mannai Corporation, Gulf International Services, Aamal Company, Mazaya Qatar, Barwa, Vodafone Qatar and Al Khaliji bucked the trend.
Non-Qatari institutions turned net buyers to the tune of QR5.24mn compared with net sellers of QR2.86mn on June 13.
The GCC (Gulf Cooperation Council) institutions were also net buyers to the extent of QR2.73mn against net sellers of QR2.9mn on Monday.
Domestic institutions’ net buying increased to QR6.89mn compared to QR1.19mn the previous day.
However, local retail investors’ net profit booking strengthened to QR13.53mn against QR1.09mn on June 13.
Non-Qatari individual investors turned net sellers to the tune of QR1.98mn compared with net buyers of QR4.24mn on Monday.
The GCC individual investors’ net buying weakened to QR0.67mn against QR1.42mn the previous day.
Total trade volume fell 5% to 2.27mn shares, while value rose 41% to QR123.56mn and deals by 11% to 1,562.
There was 75% plunge in the consumer goods sector’s trade volume to 0.06mn equities, 59% in value to QR2.76mn and 46% in transactions to 83.
The insurance sector’s trade volume plummeted 63% to 0.03mn stocks and value by 50% to QR1.85mn, while deals were up 5% to 46.
The transport sector reported 41% shrinkage in trade volume to 0.13mn shares, 35% in value to QR4.49mn and 28% in transactions to 95.
The telecom sector’s trade volume tanked 26% to 0.28mn equities, value by 23% to QR6.76mn and deals by 8% to 202.
The market witnessed 4% decline in the industrials sector’s trade volume to 0.27mn stocks but on 54% increase in value to QR16.96mn and 54% in transactions to 417.
However, the real estate sector’s trade volume soared 43% to 0.4mn shares, value by 43% to QR7.45mn and deals by 75% to 275.
The banks and financial services sector saw 21% surge in trade volume to 1.1mn equities, 84% in value to QR83.28mn and 4% in transactions to 444.
In the debt market, there was no trading of treasury bills and government bonds.