The Qatar Stock Exchange on Monday witnessed more than 78% of the traded constituents make gains, a day after it lost more than 300 points on reports of Omicron variant of Covid-19, as investors discounted apprehensions.
The insurance, consumer goods and industrials sectors saw higher than average demand even as the 20-stock Qatar Index rose by mere 0.06% higher to 11,471.36 points, although it touched an intraday high of 11,547 points.
The Gulf funds and foreign individuals were seen bullish in the market, whose year-to-date gains were at 9.92%.
The local retail investors continued to be net buyers but with lesser intensity in the bourse, which saw Islamic index gain faster than the other indices.
Similarly, domestic funds also continued to be net buyers but with lesser vigour in the market, whose capitalisation saw about QR2bn or 0.26% decline to QR659.14bn, mainly on small cap segments.
The Gulf individuals’ net selling weakened in the bourse, where the industrials and banking sectors together constituted about 65% of the total trading volume.
The overall trade turnover grew amidst decline in volumes in the main market, which saw a total of 105,840 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR1.15mn trade across 13 deals.
The Total Return Index was up 0.06% to 22,708.25 points and Al Rayan Islamic Index (Price) by 0.48% to 2,567.79 points, while All Share Index was down 0.17% to 3,629.85 points.
The insurance index shot up 1.38%, consumer goods and services (1.18%), industrials (0.9%), real estate (0.5%) and transport (0.14%); while banks and financial services declined 0.95% and telecom (0.35%).
Major gainers in the main market included Investment Holding Group, Qatar Insurance, Industries Qatar, Woqod, Alijarah Holding, Salam International Investment, Doha Bank, Inma Holding, Widam Food, Qatari Investors Group and Mazaya Qatar. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their share appreciate in value.
Nevertheless, QNB, Dlala, Ooredoo, Qatar Electricity and Water and Qatar Cinema and Film Distribution were among the losers in the main market.
The Gulf institutions turned net buyers to the tune of QR25.13mn against net sellers of QR17.57mn on November 28.
The foreign individuals were net buyers to the tune of QR9.47mn compared with net sellers of QR13.17mn on Sunday.
The Gulf individuals’ net selling declined markedly to QR0.9mn against QR3.34mn the previous day.
The Arab individuals’ net buying eased marginally to QR8.45mn compared to QR8.55mn on November 28.
However, the foreign funds’ net profit booking increased considerably to QR81.24mn against QR57.94mn on Sunday.
Qatari individuals’ net buying weakened noticeably to QR49.79mn compared to QR62.13mn the previous day.
The domestic institutions’ net buying fell drastically to QR6.21mn against QR38.44mn on November 28.
The Arab institutions had no major net exposure for the second straight session.
Total trade volume in the main market fell 22% to 156.5mn shares, while value rose 2% to QR486.63mn and transactions by 59% to 15,118.
The real estate sector’s trade volume plummeted 50% to 15.56mn equities, value by 45% to QR23.82mn and deals by 21% 9% to 755.
The market witnessed 37% plunge in the insurance sector’s trade volume to 1.11mn stocks, 31% in value to QR3.44mn and 42% in transactions to 111.
The consumer goods and services sector’s trade volume tanked 31% to 30.91mn shares, value by 36% to QR48.3mn and deals by 7% to 1,292.
There was 24% contraction in the industrials sector’s trade volume to 58.42mn equities and 22% in value to QR125.96mn but on 5% increase in transactions to 2,887.
However, the telecom sector’s trade volume soared 16% to 3.82mn stocks and value by 64% to QR17.5mn on about five-fold jump in deals to 1,073.
The banks and financial services sector saw 9% expansion in trade volume to 42.91mn shares and 57% in value to QR252.24mn on more than doubled transactions to 8,515.
The transport sector’s trade volume was up 2% to 3.77mn equities, whereas value shrank 15% to QR15.36mn despite 20% higher deals at 485.
In the venture market, volume, value and deals were seen expanding 42.54%, 75.18% and 68.75% respectively.