Gulf institutions turned bullish and there was increased buying support from their foreign counterparts as the 20-stock Qatar Index rose 0.63% to 11,186.14 points on increased trading turnover amidst declining volumes.
Transport and banking stocks outperformed the main barometer in the market, which is up 7.26% year-to-date.
Islamic stocks were seen gaining slower than the conventional ones in the bourse, where banking and realty stocks together constituted about 52% of the total trading volume.
Market capitalisation expanded 0.58% or more than QR3bn to QR598.38bn as large, mid, small and microcap equities gained 0.68%, 0.38%, 0.31% and 0.23% respectively.
The Total Return Index rose 0.63% to 18,098.43 points, All Share Index by 0.56% to 3,074.97 points and Al Rayan Islamic Index by 0.37% to 4,214.25 points.
Transport stocks soared 0.95%, banks and financial services (0.89%), telecom (0.62%), real estate (0.57%), consumer goods (0.25%), insurance (0.1%) and industrials (0.03%). A three-fourth of the equities were in the red with major losers being Nakilat, Milaha, QNB, Qatar Islamic Bank, Commercial Bank, Doha Bank, QIIB, Gulf International Services, Aamal Company, Mazaya Qatar, Ezdan, Barwa, Ooredoo and Vodafone Qatar.
Non-Qatari institutions’ net buying strengthened to QR14.13mn compared to QR7.89mn the previous day.
The GCC (Gulf Cooperation Council) institutions turned net buyers to the tune of QR20.21mn against net sellers of QR5.22mn on Tuesday.
However, local retail investors’ net profit booking increased to QR15.83mn compared to QR8.94mn on August 23.
Domestic institutions’ net selling also rose perceptibly to QR23.33mn against QR2.77mn the previous day.
The GCC individual investors’ net buying weakened to QR0.8mn compared to QR1.56mn on Tuesday.
Non-Qatari individual investors’ net buying also declined to QR4.02mn against QR7.46mn on August 23.
Total trade volume fell 19% to 3.32mn shares, while value rose 4% to QR166.63mn but on 7% decline in deals to 2,971.
The transport sector saw 69% plunge in trade volume to 0.13mn equities, 40% in value to QR7.77mn and 42% in transactions to 161.
The banks and financial services sector’s trade volume plummeted 38% to 0.98mn stocks and value by 15% to QR50.23mn, while deals were up 4% to 917.
There was 30% shrinkage in the industrials sector’s trade volume to 0.57mn shares, 7% in value to QR33.5mn and 20% in transactions to 654.
The consumer goods sector’s trade volume tanked 29% to 0.17mn equities, value by 31% to QR11.32mn and deals by 17% to 209.
However, the insurance sector’s trade volume more than tripled to 0.3mn stocks and value also more than tripled to QR26.27mn on 43% expansion in transactions to 160.
The market witnessed 26% surge in the real estate sector’s trade volume to 0.73mn shares and 42% in value to QR18.07bn but on 2% fall in deals to 420.
The telecom sector’s trade volume soared 19% to 0.44mn equities, value by 23% to QR19.46mn and transactions by 3% to 450.
In the debt market, there was no trading of treasury bills and government bonds.