The Qatar Stock Exchange on Wednesday witnessed strong buying interests from foreign funds as it settled above 11,600 levels.
The industrials and transport counters witnessed higher than average demand as the 20-stock Qatar Index settled more than eight points or 0.07% higher at 11,603.88 points, recovering from an intraday low of 11,573 points.
The Arab individuals turned bullish in the bourse, whose year-to-date gains improved to 11.19%.
The foreign individuals were seen net buyers, albeit at lower levels in the market, whose capitalisation saw about QR1bn or 0.12% gain to QR672.26bn, mainly owing to microcap segment.
The Gulf individuals’ net selling pressure also had its influence in the bourse, where the industrials and consumer goods sectors together constituted more than 71% of the total trading volume.
The overall trade turnover and volumes were on the increase in the main market, where the local retail investors and domestic funds were increasingly net sellers.
The Gulf institutions were seen bearish in the market, which saw a total of 87,292 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR836,151 change hands across five deals.
The Total Return Index rose 0.07% to 22,970.58 points and the All Share Index by 0.13% to 3,670.87 points, while the Al Rayan Islamic Index (Price) was down 0.09% to 2,633.25 points in the market, which saw no trading of sovereign bonds and treasury bills.
The industrials sector index gained 0.65%, transport (0.15%) and banks and financial services (0.04%); while realty shrank 0.6%, telecom (0.4%), consumer goods and services (0.1%) and insurance (0.09%).
Major gainers in the main market included Investment Holding Group, Inma Holding, Qatari German Medical Devices, Qatar Investors Group, Industries Qatar, QNB, Qatar Electricity and Water, Qamco, Al Khaleej Takaful and Gulf Warehousing.
Nevertheless, Mazaya Qatar, Alijarah Holding, Baladna, Ezdan, Gulf International Services, Qatar Islamic Bank, Commercial Bank, QIIB, Widam Food, United Development Company, Mazaya Qatar and Ooredoo were among the losers in the main market.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding were shakers.
The foreign institutions’ net buying increased significantly to QR82.57mn compared to QR60.22mn on October 12.
The Arab individuals turned net buyers to the tune of QR15.42mn against net sellers of QR1.36mn the previous day.
The foreign individuals were net buyers to the extent of QR1.16mn compared with net sellers of QR0.22mn on Tuesday.
The Gulf individuals’ net profit booking eased perceptibly to QR2.58mn against QR3.21mn on October 12.
However, the domestic funds’ net selling strengthened notably to QR60.71mn compared to QR52.25mn the previous day.
The local retail investors’ net selling grew drastically to QR32.02mn against QR6.67mn on Tuesday.
The Gulf funds turned net sellers to the tune of QR3.83mn compared with net buyers of QR3.21mn on October 12.
The Arab institutions had no major net exposure for the fourth straight session.
Total trade volume in the main market rose 18% to 289.3mn shares, value by 7% to QR668.24mn and transactions by 29% to 15,605.
The industrials sector’s trade volume soared 70% to 131.31mn equities, value by 53% to QR246.68mn and deals by 55% to 4,733.
The consumer goods and services sector reported a 24% surge in trade volume to 74.64mn stocks but on 3% decline in value to QR144.9mn amidst 3% jump in transactions to 2,289.
The banks and financial services sector’s trade volume grew 21% to 40.26mn shares, value by 15% to QR193.85mn and deals by 54% to 5,683.
However, there was a 72% plunge in the insurance’s sector’s trade volume to 0.59mn equities, 62% in value to QR2.33mn and 52% in transactions to 82.
The transport sector’s trade volume plummeted 58% to 2.69mn stocks, value by 61% to QR13.82mn and deals by 37% to 359.
The real estate sector saw 41% shrinkage in trade volume to 35.18mn shares, 39% in value to QR52.24mn and less than 1% in transactions to 1,523.
The telecom sector’s trade volume was down 8% to 4.36mn equities and value by 3% to QR14.43mn, while deals expanded 12% to 936.
The venture market had seen volume, value and deals plummet 52.88%, 37.63% and 17.6% respectively.