02/07/2014 06:44 AST
Ending the bearish spell of six consecutive days, the Qatar Stock Exchange yesterday settled above 12,100 points, gaining as much as 645 points, and market capitalisation enhanced about QR35bn.
An across the board buying – particularly in real estate, banking and telecom – led the 20-stock Qatar Index (based on price data) surge 5.62%, the largest single-day gain in the recent past, to 12,134.14 points on rising volumes.
Almost all of the traded stocks returned positive gains to investors in the market, which is up 16.9% year-to-date.
Net buying support from domestic institutions was largely responsible for the bullish momentum.
The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the market, where trading volumes were skewed towards realty, banks and telecom stocks.
Market capitalisation expanded 5.46% to QR666.76bn. Large, mid, micro and small cap equities gained 6.26%, 5.05%, 4.33% and 3.1% respectively.
The 20-stock Total Return Index shot up 5.62% to 18,097.95 points, All Share Index (with wider constituents) by 5.31% to 3,093.86 and Al Rayan Islamic Index by 5.95% to 4,024.81. All the three indices factored in dividend income as well.
Real estate stocks appreciated 7.26%, banks and financial services (6.77%), telecom (6.22%), transport (4.53%), industrials (3.89%), consumer goods (3.1%) and insurance (0.41%).
Domestic institutions’ net buying surged to QR73.04mn against QR53.49mn the previous day.
Local retail investors’ net buying fell to QR23.35mn compared to QR60.72mn on Monday.
Foreign institutions’ net selling sunk to QR73.09mn against QR109.9mn the previous day.
However, non-Qatari individual investors’ net selling rose to QR23.35mn compared to QR4.32mn on Monday.
Influential gainers included QNB, Industries Qatar, Masraf Al Rayan, Vodafone Qatar, Ooredoo, Mazaya Qatar, Ezdan, Barwa, Qatar Islamic Bank, Aamal Company and Widam Food, even as Qatar National Cement bucked the trend.
Vodafone Qatar, Masraf Al Rayan and Barwa were the most active in terms of both volume and value respectively.
Total trading volume expanded 65% to 20.88mn stocks, value by 51% to QR848.93mn and transactions by 47% to 9,953.
The consumer goods sector’s trading volume almost tripled to 1.51mn equities, value surged 25% to QR43.55mn and deals by 39% to 604.
The banks and financial services sector’s trading volume more than doubled to 6.31mn shares and value also more than doubled to QR380.05mn on 68% jump in transactions to 3,541.
The real estate sector’s trading volume and value more than doubled to 6.37mn stocks and QR155.71mn respectively on 76% rise in deals to 1,878.
The telecom sector saw its trading volume soar 63% to 3.73mn equities, value by 53% to QR109.34mn and transactions by 27% to 1,328.
The market witnessed 27% expansion in the industrials sector’s trading volume to 1.95mn shares, 23% in value to QR121.47mn and 45% in deals to 2,082.
However, the insurance sector’s trading volume plummeted 79% to 0.2mn stocks, value by 80% to QR10.97mn and transactions by 47% to 138.
There was a 29% plunge in the transport sector’s trading volume to 0.82mn equities, 28% in value to QR27.85mn and 6% in deals to 382.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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