25/06/2015 02:24 AST
Qatar Stock Exchange was back in the positive terrain on Wednesday and its key index gained 72 points to inch near the 12,200 mark.
The Gulf Cooperation Council (GCC) individual investors’ increased buying, coupled with weak selling by domestic institutions, helped the 20-stock Qatar Index gain 0.59% to 12,162.04 points amid shrinkage in volumes.
Buying was seen more pronounced in the banking, industrials and real estate counters in the market, which is, however, down 1.01% year-to-date.
The index that tracks Shariah-principled stocks was seen gaining slower than the other indices in the bourse, where trading was largely skewed towards the realty and banking sectors, whose stocks together constituted more than 66% of the overall trading volume.
Market capitalisation expanded 0.54% or more than QR3bn to QR643.82bn.
The Total Return Index rose 0.59% to 18,900.45 points, All Share Index by 0.49% to 3,244.22 points and Al Rayan Islamic Index by 0.37% to 4,742.78 points.
Banks and financial services stocks appreciated 0.68%, industrials (0.56%), real estate (0.54%), consumer goods (0.16%) and insurance (0.03%); whereas telecom fell 0.09% and transport index was flat.
About 58% of the stocks extended gains to investors with major movers being QNB, Doha Bank, Commercial Bank, QIIB, Industries Qatar, Gulf International Services, Aamal Company, Ezdan, United Development Company, Mazaya Qatar, Vodafone Qatar and Nakilat; whereas al khaliji, Ooredoo, Barwa and Qatari German Company for Medical Devices bucked the trend.
The GCC retail investors’ net buying strengthened to QR36.01mn against QR10.8mn the previous day.
Domestic institutions’ net profit booking plunged to QR18.48mn compared to QR53.51mn on Tuesday.
The GCC institutions’ net selling weakened to QR1.72mn against QR3.35mn on June 23.
However, local retail investors’ net profit booking rose to QR19.31mn compared to QR10.29mn the previous day.
Non-Qatari institutions’ net buying weakened to QR2.76mn against QR55.51mn on Tuesday.
Non-Qatari individual investors’ net buying stood unchanged at QR0.76mn.
Total trade volume fell 38% to 5.25mn shares, value by 28% to QR260.58mn and deals by 28% to 2,822.
The telecom sector saw 72% plunge in trade volume to 0.45mn equities, 65% in value to QR12.69mn and 22% in transactions to 460.
The consumer goods sector’s trade volume plummeted 63% to 0.45mn stocks, value by 87% to QR12.31mn and deals by 49% to 235.
The market witnessed 46% shrinkage in the transport sector’s trade volume to 0.13mn shares, 46% in value to QR3.46mn and 48% in transactions to 57.
The banks and financial services sector’s trade volume tanked 31% to 1.02mn equities, while value rose 20% to QR107.52mn. Deals fell 18% to 681.
There was 25% decline in the insurance sector’s trade volume to 0.09mn stocks, 27% in value to QR7.71mn and 24% in transactions to 71.
The real estate sector’s trade volume slipped 17% to 2.46mn shares, value by 5% to QR65.76mn and deals by 36% to 615.
The industrials sector’s trade volume was down 17% to 0.65mn equities, value by 7% to QR51.13mn and transactions by 20% to 703.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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