QSE capitalisation expanded 1.96%, or more than QR14bn, to QR752.32bn yesterday.
22/04/2014 07:11 AST
The Qatar Stock Exchange yesterday was on track to reach the 13,000 level, mainly on brightened prospects due to a breakthrough in talks among Qatar, Saudi Arabia, the UAE and Bahrain to diffuse the political tensions.
Local retail investors’ net buying support lifted the 20-stock Qatar Index (based on price data) by 1.51% to 12,768.17 points on enhanced trading activities.
The index that tracks Shariah-principled stocks was seen gaining much faster than the other indices in the bourse, which is up 23.01% year-to-date.
The bullish momentum came after Qatar, Saudi Arabia, the UAE and Bahrain “agreed to adopt mechanisms to guarantee a collective framework and to ensure that policies of any of the Gulf Co-operation Council countries would not affect the interests, security and stability of the countries or undermine their sovereignty.”
Trading volumes was mainly skewed towards realty, banking and telecom equities.
The 20-stock Total Return Index gained 1.51% to 10,040.1 points, the All Share Index (with wider constituents) by 1.18% to 3,289.59 and the Al Rayan Islamic Index by 2.71% to 4,243.26 points.
All the three indices factored in dividend income as well.
Real estate stocks appreciated 3.95%, followed by insurance (2.09%), telecom (1.39%), banks and financial services (1.15%), transport (0.93%), industrials (0.6%) and consumer goods (0.2%).
About 60% of the stocks returned gains with major movers being Ezdan, Mazaya Qatar, Barwa, United Development Company, Vodafone Qatar, Aamal Company, Commercial Bank, Qatar Islamic Bank, Masraf Al Rayan, Nakilat, Qatar Insurance and Al Khaleej Takaful.
However, Industries Qatar, QNB, Ooredoo, Mesaieed Petrochemical Holding, International Islamic and Widam Food bucked the trend.
Market capitalisation expanded 1.96%, or more than QR14bn, to QR752.32bn.
Qatari retail investors turned net buyers to the tune of QR27.49mn against net sellers of QR84.35mn on Sunday.
Foreign institutions’ net buying fell to QR39.18mn compared to QR41.41mn the previous day.
Non-Qatari individual investors turned net profit-takers to the extent of QR38.15mn against net buyers of QR24.1mn on Sunday.
Domestic institutions were also net sellers to the tune of QR28.52mn compared with net buyers of QR18.95mn the previous day.
Total trading volume surged 85% to 58.45mn stocks, value by 57% to QR1.72bn and transactions by 54% to 18,630.
The consumer goods sector’s trading volume more than doubled to 7.77mn equities, whereas value fell 5% to QR187.89mn. Deals rose 75% to 2,312.
The banks and financial services sector reported doubling of trading volume to 10.43mn shares, value soared 62% to QR381.49mn and transactions by 85% to 4,359.
The real estate sector’s trading volume more than doubled to 21.63mn stocks and value also more than doubled to QR594.63mn on a 68% jump in deals to 4,908.
The transport sector’s trading volume expanded 67% to 2.12mn equities, value by 63% to QR51.16mn and transactions by 77% to 677.
There was a 58% rise in the telecom sector’s trading volume to 10.14mn shares, 61% in value to QR181.18mn and 79% in transactions to 1,838.
The market witnessed a 58% jump in the insurance sector’s trading volume to 0.6mn stocks, 23% in value to QR27.68mn and 74% in deals to 375.
However, the industrials sector’s trading volume dipped less than 1% to 6.09mn equities but value gained 24% to QR294.3mn and transactions by 8% to 4,161.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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