Qatar bourse extends gains to 2nd day on financials

Foreign institutions’ buying interests yesterday extended the bullish run on the Qatar Exchange for the second day yesterday.

Banks and financial institutions particularly came under buying spotlight as the QE Index (based on price data) rose 0.23% to 8,314.33 points.

The market is, however, down 5.29% year-to-date.

The All Share Index (comprising wider constituents) and the Total Return Index were up 0.17% and 0.23% to 2,002.01 and 11,252.30 points respectively. Both the indices factored in dividend income as well.

Among the gainers were Commercialbank, Doha Bank, Barwa and Mazaya Qatar.

Under the All Share Index category, the index of banks and financial services gained 0.44% and insurance and real estate rose 0.12% each; while the indices of consumer goods, telecom, transport and industrials fell 0.27%, 0.16%, 0.08% and 0.08% respectively. Market capitalisation was up 0.12% or QR56mn to QR455.27bn with large and mid cap equities gaining 0.30% and 0.21%. Small and micro caps lost 0.17% and 0.10% respectively.

Of the 42 stocks, 13 advanced, while 14 declined, 10 were unchanged and five were not traded.

Foreign institutions turned bullish as they were net buyers to the tune of 6.65% compared with net sellers of 2.55% the previous day. Their net buying was worth QR9.57mn.

A much higher 37.62% of them were into buying against 14.47% on Monday, although a higher 30.97% of them into selling compared to 17.02%.

Domestic institutions’ bullish grip marginally strengthened as net buying rose to 0.99% from 0.95% the previous day. Their net buying was worth QR1.42mn.

A lower 9.01% of them bought equities compared to 12.70% on Monday and a lower 8.02% offloaded against 11.75%.

Qatari individual investors turned profit-takers as they were net sellers to the extent of 4.18% against net buyers of 2.54% the previous day. Their net selling amounted to QR6.02mn. A much lower 39.50% of them purchased equities compared to 53.91% on Monday and a lower 43.68% sold against 51.37%.

Non-Qatari retail investors were increasingly bearish as their net selling soared to 3.47% from 0.93% the previous day. Their net selling was worth QR4.99mn.

A lower 13.87% of them were into buying against 18.93% on Monday and a lower 17.34% were into offloading against 19.86%.

Total trading volume rose 3% to 4.96mn equities, whereas value fell 6% to QR143.91mn and deals by 19% to 2,378.

The real estate sector’s trading volume doubled to 1.76mn shares, value surged 73% to QR25.62mn and transactions by 13% to 455.

The insurance sector’s trading volume doubled to 0.02mn shares, value gained 38% to QR0.77mn and deals by 4% to 27.

The banks and financial services sector’s trading volume shot up 18% to 2.11mn shares, while value fell 5% to QR62.85mn and transactions by 5% to 973.

However, the consumer goods and services sector’s trading volume plummeted 68% to 0.16mn shares, value by 64% to QR8.06mn and deals by 54% to 228.

The telecom sector’s trading volume plunged 59% to 0.15mn shares, value by 55% to QR2.49mn and transactions by 40% to 84.

The industrials sector’s trading volume tanked 52% to 0.40mn shares, whereas value rose 10% to QR35.78mn but deals shrank 34% to 338.

The transport sector’s trading volume declined 18% to 0.36mn shares, value by 21% to QR8.35mn and transactions by 22% to 273.

Actively traded stocks (in terms of volume) were Mazaya Qatar (1.43mn shares); Qatar Oman Investment (1.01mn); Masraf Al Rayan (627,672); Nakilat (266,100) and Barwa (253,720).