Trade turnover and volumes were on the decline in the Qatar Stock Exchange but overall its key index added another 33 points for the second day to inch near the 9,800 mark, mainly on domestic institutions’ buying support.
Transport, industrials, telecom and consumer goods equities lifted the 20-stock Qatar Index 0.34% to 9,774.98 points. The market’s year-to-date losses have narrowed further to 6.27%.
Islamic stocks were seen outperforming the main barometer and other conventional indices in the market, where Gulf individual investors’ net buying strengthened perceptibly and foreign institutions’ net selling weakened.
Banking, telecom and realty stocks together constituted about 70% of the total volumes in the bourse, where local retail investors’ net profit booking strengthened and Gulf institutions turned net sellers.
Market capitalisation rose about QR2bn or 0.34% to QR528.33bn with large and small cap equities gaining 0.47% and 0.1%; whereas mid and microcaps fell 0.38% and 0.07% respectively.
The Total Return Index gained 0.34% to 15,815.27 points, All Share Index by 0.26% to 2,699.55 points and Al Rayan Islamic Index by 0.7% to 3,615.25 points.
Transport sector saw its index expand 0.91%, industrials (0.84%), telecom (0.83%), consumer goods (0.56%), banks and financial services (0.13%) and real estate (0.01%); while insurance shrank 1.38%.
More than 51% of the traded stocks extended gains with major movers being Commercial Bank, Industries Qatar, Nakilat, Qatari Investors Group, Gulf International Services, Vodafone Qatar, Ooredoo, Barwa and Medicare Group.
Nevertheless, Doha Bank, Qatar Insurance, Ezdan, al khaliji, Alijarah Holding, Qatar Electricity and Water, Aamal Company, Mesaieed Petrochemical Holding and Milaha saw their stocks lose sheen.
Domestic institutions’ net buying strengthened considerably to QR49.25mn compared to QR2.04mn on November 16.
The GCC (Gulf Cooperation Council) individual investors’ net buying increased to QR4.37mn against QR0.98mn on Wednesday.
Non-Qatari institutions’ net profit booking fell to QR15.67mn compared to QR23.19mn the previous day.
However, local retail investors’ net selling strengthened perceptibly to QR31.04mn against QR9.66mn on November 16.
The GCC institutions turned net sellers to the tune of QR5.91mn compared with net buyers of QR6.4mn on Wednesday.
Non-Qatari individual investors were also net sellers to the extent of QR0.97mn against net buyers of QR23.42mn the previous day.
Total trade volume fell 43% to 6.02mn shares, value by 3% to QR249.48mn and deals by 31% to 3,090.
The market witnessed 77% plunge in the insurance sector’s trade volume to 0.12mn equities and 76% in value to QR6.1mn but on flat transactions at 94.
The banks and financial services sector’s trade volume plummeted 64% to 1.68mn stocks, value by 41% to QR57.42mn and deals by 34% to 992.
The real estate sector reported 46% shrinkage in trade volume to 1.01mn shares, 62% in value to QR16.8mn and 64% in transactions to 365.
The telecom sector’s trade volume tanked 43% to 1.51mn equities, value by 32% to QR22.84mn and deals by 47% to 462.
However, the industrials sector’s trade volume more than doubled to 0.92mn stocks and value also more than doubled to QR65.04mn on 48% jump in transactions to 641.
The transport sector’s trade volume almost doubled to 0.29mn shares and value more than doubled to QR9.92mn on 57% increase in deals to 223.
The consumer goods sector witnessed 78% surge in trade volume to 0.48mn equities to more than double the value to QR71.35mn but on 24% decline in transactions to 313.
In the debt market, there was no trading of treasury bills and government bonds.