The bullish outlook of the foreign institutions on Wednesday lifted the Qatar Stock Exchange about 33 points and placed its key index above the 10,200 levels.
The insurance and banking counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.19% higher at 10,213.13 points, having touched an intraday low of 10,170 points.
The Arab individuals’ weakened net selling also had its influence in the bourse, whose year-to-date losses were at 2.14%.
The Islamic index was seen declining vis-à-vis gains in the other indices in the market, whose capitalisation saw about QR2bn or 0.29% increase to QR593.38bn, mainly owing to midcap segments.
Four of the seven sectors were under buying spotlight in the bourse, where local retail investors turned bearish.
A total of 31,200 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR271,451 changed hands across four deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index gained 0.19% to 20,189.88 points and All Share Index by 0.35% to 3,248.63 points, while Al Rayan Islamic Index (Price) was down 0.03% to 2,373.35 points.
The insurance index shot up 2.15%, banks and financial services (0.6%), real estate (0.14%) and telecom (0.1%); whereas transport declined 0.62%, consumer goods and services (0.17%) and industrials (0.05%).
Major gainers included Investment Holding Group, Qatar General Insurance and Reinsurance, Salam International Investment, Qatar Insurance, Widam Food, QNB, Qatar First Bank and Qatar Oman Investment.
Nevertheless, al khaliji, Mannai Corporation, Qatar National Cement, QLM, Gulf International Services, Milaha and Gulf Warehousing were among the losers.
The foreign funds turned net buyers to the tune of QR15.36mn against net sellers of QR2.32mn on March 23.
The foreign individuals were net buyers to the extent of QR0.39mn compared with net sellers of QR4.8mn on Tuesday.
The Arab individuals’ net profit booking eased marginally to QR0.54mn against QR0.76mn the previous day.
However, local retail investors were net sellers to the tune of QR8.83mn compared with net buyers of QR6.86mn on March 23.
The Gulf individuals’ net selling increased considerably to QR5.41mn against QR1.98mn on Tuesday.
The domestic funds’ net profit booking strengthened perceptibly to QR2.84mn compared to QR0.27mn the previous day.
The Gulf institutions’ net buying weakened markedly to QR1.87mn against QR3.28mn on March 23.
The Arab funds continued to have no major net exposure.
Total trade volume rose 57% to 293.55mn shares and value by 2% to QR388.88mn, while transactions were down 6% to 8,959.
The consumer goods and services sector’s trade volume almost tripled to 72.08mn equities, value soared 67% to QR81.64mn and deals by 57% to 1,811.
The industrials sector’s trade volume more than doubled to 178.04mn stocks, value shot up 80% to QR170.74mn and transactions by 18% to 3,196.
However, the insurance sector’s trade volume plummeted 65% to 5.58mn shares, value by 66% to QR16.54mn and deals by 61% to 343.
The banks and financial services sector saw 63% plunge in trade volume to 18.57mn equities and 34% in value to QR79mn but on 1% jump in transactions to 2,352.
The transport sector’s trade volume tanked 60% to 2.62mn stocks, value by 63% to QR11.05mn and deals by 72% to 284.
There was 39% shrinkage in the telecom sector’s trade volume to 3.16mn shares, 35% in value to QR10.38n and 49% in transactions to 369.
The real estate sector’s trade volume shrank 14% to 13.51mn equities, value by 15% to QR19.53mn and deals by 17% to 604.