The Doha share index remained largely flat yesterday despite heavy buying by domestic institutions and non-Qatari retail investors.
The 20-stock Qatar Exchange benchmark fell by a marginal 0.05 points to 8,483.66 points as foreign institutions considerably pared their exposure. The market is down 2.28% year-to-date.
Although the market heavyweight Industries Qatar lost 0.57%, QNB, Nakilat and Aamal Company bucked the trend.
The indices of industry and services fell 0.43% and 0.05% respectively, while that of banks rose 0.14% and insurance was unchanged.
Market capitalisation was unchanged at QR451.46bn although mid and small cap equities gained 0.39% and 0.24%; even as micro and large caps lost 0.41% and 0.15% respectively.
Of the 42 stocks, 18 advanced, while 15 declined, seven were unchanged and two were not traded.
Domestic institutions turned bullish that they were net buyers to the extent of 5.96% compared with net sellers of 3.77% in the previous day.
A higher 19.23% of them bought equities against 7.68% last Thursday although a higher 13.27% of them sold compared to 11.45%.
Non-Qatari retail investors’ bearish grip considerably weakened as their net selling plunged to 0.52% from 9.39% in the previous day.
A much higher 17.63% of them were into buying compared to 9.10% last Thursday while a marginally lower 18.15% were into offloading against 18.49%.
Qatari individual investors’ bearish grip strengthened as their net selling surged to 4.65% from 0.97% in the previous day.
A higher 42.74% of them purchased equities compared to 33.05% last Thursday but a much higher 47.39% sold compared to 34.02%.
Foreign institutions turned profit takers as they were net sellers to the tune of 0.79% against net buyers of 14.13% in the previous day.
A much lower 20.40% of them were into buying compared to 50.17% last Thursday and a much lower 21.19% were into selling against 36.04%.
Total trading volume rose 16% to 3.04mn equities whereas value fell 11% to QR102.91mn and deals by 4% to 2,195.
The industrial sector witnessed a 35% jump in trading volume to 0.23mn shares, value by 24% to QR17.40mn and transactions by 9% to 263.
The banks’ trading volume shot up 16% to 1.13mn equities but value lost 9% to QR41.80mn and deals by 6% to 793.
The services sector’s trading volume gained 14% to 1.67mn shares while value shrank 20% to QR42.95mn and transactions by 4% to 1,117.
However, the insurance sector’s trading volume plunged 67% to 0.01mn shares, value by 34% to QR0.76mn and deals by 15% to 22.
Actively traded stocks (in terms of volume) were Masraf Al Rayan (750,274 shares); Gulf International Services (419,576); Vodafone Qatar (254,529); Barwa (240,606) and Nakilat (181,811).