07/04/2014 06:30 AST
Qatar Exchange yesterday opened the week on a stronger note to cross the 12,000 mark, mainly supported by buying interests from local retail investors.
Heavy demand — especially for consumer goods, insurance, telecom, realty and transport equities — led the 20-stock Qatar Index (based on price index) gain for the ninth straight session by 0.96% to 12,098.46 points.
Amid their lower exposure, foreign institutions continued to be bullish, but with lesser vigour in the bourse, which is up 16.56% year-to-date.
Trading volumes surged and was skewed mainly towards telecom, real estate, banking, industrials and consumer goods sectors.
The index that tracks Shariah-principled stocks was seen to considerably outperform the other indices in the bourse.
The 20-stock Total Return Index gained 0.96% to 17,995.3 points, All Share Index (with wider constituents) by 0.97% to 3,105.27 and Al Rayan Islamic Index by 2.49% to 3,796.25 points.
All the three indices factored in dividend income as well.
Consumer goods stocks shot up 3.79%, insurance (3.17%), telecom (2.07%), realty (1.25%), transport (0.99%), industrials (0.72%) and banks and financial services (0.3%).
About 83% of the stocks extended gains with major movers being Vodafone Qatar, Mazaya Qatar, United Development Company, Ezdan, Gulf International Services, Qatari Investors Group, Mesaieed Petrochemical Holding, Woqod, Qatar Islamic Bank, Doha Bank, Masraf Al Rayan and Widam Food.
However, Industries Qatar, QNB and al khaliji were seen to buck the trend.
Market capitalisation rose 0.73%, or about QR5bn to QR673.32bn. Small, micro, mid and large cap equities gained 2.37%, 2.16%, 1.28% and 0.44%, respectively.
Qatari retail investors’ net selling fell to QR2.97mn against QR72.28mn last Thursday.
Foreign institutions’ net buying amounted to QR31.94mn compared to QR85.61mn the previous trading day.
Domestic institutions turned net sellers to the extent of QR13.89mn against net buyers of QR2.23mn last Thursday.
Non-Qatari individual investors’ net profit taking was QR14.96mn, compared to QR15.64mn the previous trading day.
Total trading volume zoomed 94% to 38.18mn stocks, value by 65% to QR1.19bn and transactions by 50% to 12,876.
The telecom sector’s trading volume grew more than five-fold to 13.05mn equities and value more than quadrupled to QR207.89mn on more than tripled deals to 1,918.
The industrials sector’s trading volume more than doubled to 4.61mn shares and value also more than doubled to QR289.33mn on a 62% jump in transactions to 3,558.
Although the transport sector witnessed more than doubling of trading volume to 0.84mn stocks, its value surged 46% to QR23.01mn and deals by 45% to 378.
The real estate sector’s trading volume shot up 79% to 8.22mn equities, value by 78% to QR182.73mn and transactions by 58% to 2,046.
The market witnessed 66% surge in consumer goods sector’s trading volume to 3.47mn shares, 51% in value to QR196.46mn and 47% in deals to 1,753.
The banks and financial services sector reported 2% gain in trading volume to 7.68mn stocks, while value fell 3% to QR271.57mn. Transactions were up 10% to 2,976.
However, the insurance sector’s trading volume tanked 36% to 0.3mn equities; value by 9% to QR16.35mn and deals by 6% to 247.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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