16/04/2015 08:59 AST
Snapping the bearish trend of the last two days, Qatar Stock Exchange yesterday gained 114 points to inch near the 11,900 mark mainly on buying support from domestic and foreign institutions.
An across the board buying – notably in the real estate and industrials – helped the 20-stock Qatar Index gain about 1% to 11,892.15 points as trade volumes also grew.
Small and mid cap stocks were seen outperforming the main index in the bourse, which is however down 3.2% year-to-date.
However, local retail investors were seen profit takers and buying interests of non-Qatari individual investors were seen weakening in the market; where overall trading volume was skewed towards realty, industrials, telecom and banking stocks, which together accounted for more than 86%.
Market capitalisation rose 0.79% or QR5bn to QR638.83bn with small, mid, micro and large cap stocks gaining 2.02%, 1.23%, 0.85% and 0.31% respectively.
The Total Return Index gained 0.97% to 18,479.47 points, All Share Index by 0.92% to 3,174.59 points and Al Rayan Islamic Index by 1.6% to 4,474.51 points.
Real estate stocks appreciated 2.11%, industrials (1.47%), transport (0.84%), consumer goods (0.75%), telecom (0.57%), banks and financial services (0.3%) and insurance (0.16%).
More than 78% of the stocks witnessed gains with major movers being Industries Qatar, Qatari Investors Group, Aamal Company, Dlala, Ahlibank Qatar, Barwa, Ezdan, Mazaya Qatar, United Development Company and Vodafone Qatar; even as QNB bucked the trend.
Domestic institutions turned net buyers to the tune of QR15.89mn against net sellers of QR8.59mn on Tuesday.
Non-Qatari institutions were also net buyers to the extent of QR1.89mn compared with net sellers of QR30.92mn on April 14.
The GCC (Gulf Cooperation Council) institutions’ net profit booking weakened to QR5.6mn against QR11.36mn the previous day.
Local retail investors turned net sellers to the tune of QR13.82mn compared with ent buyers of QR28.47mn on Tuesday.
The GCC individual investors were net sellers to the extent of QR0.15mn against net buyers of QR1.27mn on April 14.
Non-Qatari individual investors’ net buying weakened to QR1.76mn against QR21.14mn the previous day.
Total trade volume was up 2% to 7.24mn shares, even as value fell 19% to QR309.13mn but transactions rose 1% to 4,584.
The consumer goods sector’s trade volume more than tripled to 0.79mn equities and value gained 36% to QR23.78mn on more than doubled deals to 510.
There was 36% surge in the transport sector’s trade volume to 0.15mn stocks, 88% in value to QR8.24mn and 79% in transactions to 136.
The real estate sector saw its trade volume expand 27% to 2.11mn shares, value by 19% to QR56.13mn and deals by 28% to 805.
The banks and financial services sector reported 20% increase in trade volume to 1.32mn equities, 12% in value to QR76.27mn and 34% in transactions to 1,240.
The telecom sector’s trade volume rose 9% to 1.27mn stocks, value by 6% to QR25.02mn and deals by 7% to 319.
However, the industrials sector’s trade volume tanked 44% to 1.55mn shares, value by 47% to QR117.55mn and transactions by 34% to 1,542.
Although the insurance sector’s trade volume was flat at 0.04mn equities, there was 11% decline in value by 75% to QR2.12mn and 22% in deals to 32.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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