02/05/2014 06:26 AST
Buying interests especially in the transport, telecom and industrials stocks yesterday further lifted the Qatar Stock Exchange, but its capitalisation kept eroding by another QR6bn.
Foreign institutions’ lower selling pressure, coupled with non-Qatari retail investors’ increased penchant for buying, helped the 20-stock Qatar Index (based on price data) gain another 0.39% to 12,727.64 points.
Domestic institutions were gripped by overall bearish sentiments in the market, which is up 22.62% year-to-date.
The index that tracks Shariah-principled stocks was seen gaining slower than the other indices in the bourse where trading activities were on the decline.
Overall, volumes were mainly skewed towards realty, banking and transport equities.
The 20-stock Total Return Index rose 0.39% to 18,979.65 points, the All Share Index (with wider constituents) by 0.24% to 3,252.72 and the Al Rayan Islamic Index by 0.06% to 4,195.24.
All the three indices factored in dividend income as well.
Transport stocks appreciated 0.8%, followed by real estate (0.79%), industrials (0.65%) and banks and financial services (0.24%), while insurance shrank 0.24%, consumer goods 0.46% and telecom fell 0.15%.
Major gainers included Industries Qatar, QNB, Barwa, Nakilat, United Development Company and Qatar Islamic Bank.
However, Aamal Company, Ezdan, Mazaya Qatar, Vodafone Qatar, Masraf Al Rayan, Woqod, Gulf International Services, Mesaieed Petrochemical Holding, Qatari Investors Group and Al Khaleej Takaful bucked the trend.
Market capitalisation eroded 0.86% to QR725.69bn.
Foreign institutions turned net buyers to the tune of QR7.45mn against net sellers of QR6.09mn on Wednesday.
Non-Qatari individual investors also turned net buyers to the extent of QR12.1mn compared with net sellers of QR16.62mn the previous day.
However, Qatari retail investors turned net profit-takers to the tune of QR9.3mn against net buyers of QR33.01mn on Wednesday.
Domestic institutions’ net profit-booking stood at QR10.1mn compared to QR10.08mn the previous day.
Total trading volume fell 20% to 21.92mn stocks, value by 28% to QR801.38mn and transactions by 3% to 10,436.
The telecom sector’s trading volume plummeted 55% to 0.84mn equities; value by 63% to QR15.84mn and deals by 37% to 363.
The insurance sector saw its trading volume plunge 47% to 0.3mn shares, value by 34% to QR15.25mn and transactions by 18% to 260.
The consumer goods sector’s trading volume tanked 30% to 1.4mn equities; value by 6% to QR120.58mn and deals by 10% to 1,103.
The real estate sector witnessed its trading volume shrink 24% to 10.7mn shares and value by 23% to QR303.58mn, while transactions were up 7% to 3,849.
The banks and financial services sector reported a 21% fall in trading volume to 4.28mn shares, 41% in value to QR181.37mn and 16% in deals to 2,258.
There industrials sector’s trading volume was down 12% to 1.65mn stocks, value by 44% to QR93.48mn and transactions by 5% to 1,756.
However, the market witnessed a 58% surge in the transport sector’s trading volume to 2.75mn shares, 47% in value to QR71.28mn and 51% in deals to 847.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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