The Qatar Exchange yesterday entered a seventh consecutive day of bull run, paced mainly by the telecom and insurance sectors.
Foreign institutions’ buying lifted the 20-stock QE Index (based on price data) by 0.44% to 8,402.19 points. The market is, however, down 4.29% year-to-date.date.
Total Return Index and All Share Index (comprising wider constituents) also rose 0.41% and 0.44% to 2,020.79 and 11,371.19 points respectively. Both the indices factored in dividend income as well.
Major gainers included Commercialbank, Industries Qatar, Qatar Telecom, Milaha and Nakilat; even as National Leasing bucked the trend.
Under the All Share Index category, the telecom index surged 2.54%, insurance (1.44%), industrials (0.84%) and transport (0.76%), while that of consumer goods fell 0.24%, banks and financial services (0.11%) and realty (0.09%).
Market capitalisation gained 0.51% or more than QR2bn to QR461.14bn with mid and small cap equities gaining 0.44% each and large cap 0.36%; whereas micro caps lost 0.56%.
Of the 42 stocks, 17 advanced, while 15 declined, seven were unchanged and three were not traded.
Foreign institutions turned bullish that they were net buyers to the tune of 0.50% compared with net sellers of 9.55% the previous day. Their net buying was QR0.88mn.
A much higher 34.17% of them were into buying against 13.59% on Tuesday and a higher 33.67% of them into selling compared to 23.14%.
Domestic institutions continued to be bullish but with lesser intensity as their net buying fell to 5.09% from 11.03% the previous day. Their net buying was QR8.95mn.
A much lower 19.14% of them bought equities compared to 31.38% on Tuesday and a lower 14.05% offloaded against 20.35%.
Qatari individual investors were increasingly bearish as their net selling soared to 3.49% from 0.52% the previous day. Their net selling amounted to QR6.14mn.
A lower 35.40% of them purchased equities compared to 41.42% on Tuesday and a lower 38.89% sold against 41.94%.
Non-Qatari retail investors’ bearish grip strengthened as their net selling rose to 2.11% from 0.96% the previous day. Their net selling was QR3.71mn.
A lower 11.28% of them were into buying against 13.61% on Tuesday and a marginally lower 13.39% were into offloading against 14.67%.
Total trading volume fell 14% to 3.88mn equities, value by 11% to QR175.86mn and deals by 4% to 2,634.
The consumer goods and services sector’s trading volume plummeted 77% to 0.23mn shares, value by 80% to QR10.65mn and transactions by 71% to 237.
The industrials sector’s trading volume plunged 17% to 0.39mn shares, whereas value rose 31% to QR36.62mn and deals by 27% to 483.
However, the telecom sector’s trading volume soared 30% to 0.26mn shares, value by 49% to QR11.40mn and transactions by 66% to 254.
The transport sector’s trading volume expanded 24% to 0.31mn shares, value by 45% to QR12.30mn and deals by 52% to 256.
The insurance sector’s trading volume gained 17% to 0.07mn shares and value by 8% to QR3.23mn while transactions fell 14% to 71.
The real estate sector’s trading volume rose 9% to 1.04mn shares, value by 2% to QR17.80mn and deals by 14% to 359.
The banks and financial services sector’s trading volume was up 1% to 1.58mn shares, value by 5% to QR83.85mn and transactions by 16% to 974.
Actively traded stocks (in terms of volume) were Mazaya Qatar (516,900 shares); Masraf Al Rayan (336,147); NLC (319,070); United Development Company (271,632) and Barwa (248,349).
In the debt market, there was no trading of treasury bills.
Ma’aden Wins Two Global Industry Awards
Ma’aden has earned international recognition from Forbes Middle East and MEED for being among the top companies in the region, as well as for its outstanding contribution to development of the mining
Qatar plans overseas energy investment fund
Three Qatari state-backed entities, including the nation's acquisitive sovereign wealth fund, are to establish a new overseas fund which will look to invest in energy infrastructure, a statement sai
Apicorp posts $109m profit
The Arab Petroleum Investments Corporation (Apicorp), the multilateral development bank owned by the ten members of the Organisation of Arab Petroleum Exporting Countries, said it has registered a ne