DSM edges up on Barwa, Doha Bank
21/05/2009 00:00 AST Gulf Times
Qatar’s bourse yesterday gained for the third day by 0.32% to cross the 6,700 mark, led by Doha Bank and Barwa.
Foreign retail and institutional investors helped the 20-stock benchmark Qatar Share Index add 21 points to close at 6,709.93 with mid and small caps witnessing the maximum accretion.
Gainers equaled decliners on a day that saw 0.95mn shares of United Development Company (UDC) being traded on the special market.
Local retail and institutional investors continued to be profit-takers at the Doha Securities Market, which is now down just 2.56% year-to-date.
Doha Bank, Barwa and UDC stocks gained 2.7%, 2.09% and 3.05% respectively.
The services and lenders segments witnessed buying as their indices rose 0.79% and 0.29%, while those of insurance and industries fell 0.66% and 0.18% respectively.
Market capitalisation, however, fell 0.23% or QR65mn to QR276.26bn as large cap stocks pared 0.50%, while small, mid and micro cap equities gained 1.22%, 1.09% and 0.16% respectively.
Of the 43 stocks, 16 each gained and declined, while seven were unchanged and four not traded.
Opening weak at 6,679.95 points against the previous close of 6,688.71, the market kept falling to reach a low of 6,658.21 points within the first 15 minutes mainly on lenders.
The index gained fast for the next 15 minutes and then remained strong for the rest of the session to wind up 21 points higher.
Foreign institutions continued to be bullish but with lesser vigour as their net buying (in terms of value) fell to 2.83% from 10.32% in the previous day.
A much lower 15.43% of them bought equities against 25.04% on Tuesday and a lower 12.60% sold compared with 14.72%.
Local institutional investors’ profit-booking became marginally intense as their net selling rose to 2.29% from 2.23% in the previous day.
A lower 12.59% of them were into buying yesterday compared with 13.85% on Tuesday and a lower 14.88% into selling against 16.08%.
Qatari retail investors’ bearish grip weakened as their net selling fell to 1.03% from 6.94% in the previous day.
A higher 50.69% of them were into buying compared with 44.01% on Tuesday and a higher 51.72% into selling against 50.95%.
Non-Qatari retail investors turned bullish as they were net buyers to the extent of 0.48% compared with net sellers of 1.15% in the previous day.
A higher 21.29% of them picked up equities against 17.10% on Tuesday and a higher 20.81% offloaded compared with 18.25%.
Total trading volume fell 14% to 20.67mn shares, value by 18% to QR0.51bn and deals by 6% to 9,010.
Lenders’ trading volume plunged 24% to 9.88mn shares, value by 24% to QR194.07mn and transactions by 11% to 3,363.
Industries’ trading volume shrank 19% to 2.20mn shares, value by 35% to QR91.42mn and deals by 30% to 952.
Insurance’s trading volume was down 17% to 0.19mn shares, value by 21% to QR7.50mn and transactions by 22% to 197.
Services’ trading volume however gained 2% to 8.41mn shares but value fell 1% to QR216.66mn. Deals rose 8% to 4,498.
Actively traded stocks were Masraf Al Rayan (5.36mn shares), Barwa (3.02mn), Alkhaliji (2.66mn), UDC (1.33mn), Nakilat (1.21mn) and Doha Bank (1.10mn).
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