30/12/2010 00:00 AST
Qatar’s bourse yesterday overcame a two-day bearish spell to gain 0.21% mainly on domestic institutions’ buying support.
Led by Commercialbank, Industries Qatar (IQ) and National Leasing Company (NLC), the 20-stock benchmark settled higher at 8,664.21 points.
The market is up 24.55% year-to-date.
Market capitalisation was up 0.09% or QR39mn to QR448.88bn mainly on micro cap equities, which rose 0.87%.
Industrial stocks gained 0.61%, followed by insurance (0.60%) and banks and financial institutions (0.31%), while services stocks fell 0.14%.
Of the 43 stocks, 22 gained, while 12 declined, six were unchanged and three were not traded.
Total trading volume fell 12% to 11.78mn equities, value by 8% to QR493.44mn and transactions by 14% to 5,405.
The services sector’s trading volume plunged 16% to 6.87mn, value by 13% to QR239.87mn and deals by 17% to 2,760.
The industrial sector witnessed a 9% slump in trading volume to 1.13mn shares, value by 19% to QR89.74mn and transactions by 26% to 699.
Banks and financial institutions trading volume was down 6% to 3.74mn equities whereas value rose 13% to QR161.34mn. Deals fell 4% to 1,886.
The insurance sector’s trading volume doubled to 0.04mn shares, value almost tripled to QR2.48mn as transactions more than doubled to 60.
Domestic institutions turned bullish as they were net buyers to the tune of 9.22% against net sellers of 13.23% in the previous day.
A much higher 58.01% of them bought stocks compared with 46.05% on Tuesday, while a lower 48.79% sold against 59.28%.
Foreign institutions, on the other hand, turned profit-takers, as they were net sellers to the extent of 3.28% compared with net buyers of 2.12% in the previous day.
A lower 11.80% were into buying against 14.43% on Tuesday, while a higher 15.08% were into selling compared with 12.31%.
Local retail investors also turned bearish as they were net sellers to the tune of 6.76% against net buyers of 6.67% in the previous day.
A lower 22.96% of them were into buying against 28.92% on Tuesday, while a higher 29.72% were into selling compared with 22.25%.
Non-Qatari retail investors continued to be bullish, but with lesser intensity, as their net buying sunk to 0.82% from 4.45% in the previous day.
A lower 7.24% of them bought stocks against 10.60% on Tuesday, while a marginally higher 6.42% sold compared with 6.15%.
Actively traded stocks (in terms of volume) were Barwa (4.29mn shares); Masraf Al Rayan (2.19mn); IQ (581,563); Nakilat (520,996); and NLC (475,336).
Gulf Times
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