06/08/2014 01:37 AST
Robust buying support from both domestic and foreign institutions yesterday helped the Qatar Stock Exchange comfortably surpass the 13,000 level and inch near the 13,200 mark.
Telecom and industrials stocks witnessed higher buying pressure as the 20-stock Qatar Index (based on price data) rose 1.4% to 13,173.64 points amid shrinking volumes.
The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the market, which is up 26.92% year-to-date.
Both local and non-Qatari retail investors were seen squaring off their position in the market, where trading volumes were skewed towards real estate, bank and consumer goods stocks.
Market capitalisation was up 0.98%, or about QR7bn, to QR699.94bn. Micro, small, mid and large cap equities gained 2.98%, 1.41%, 1.06% and 1.05% respectively.
The 20-stock Total Return Index gained 1.4% to 19,648.36points, the All Share Index (with wider constituents) 1.15% to 3,323.17 and the Al Rayan Islamic Index by 2.01% to 4,497.7 points. All the three indices factored in dividend income as well.
Telecom stocks appreciated 2.78%, followed by industrials (1.49%), realty (1.44%), banks and financial services (0.9%), consumer goods (0.88%) and transport (0.88%); while insurance fell 0.09%.
Domestic institutions turned net buyers to the tune of QR27.23mn compared with net sellers of QR45.91mn the previous day.
Foreign institutions’ net buying rose to QR50.83mn against QR18.73mn on Monday.
However, local retail investors turned net profit-takers to the extent of QR64.24mn compared with net buyers of QR11.41mn the previous day.
Non-Qatari individual investors were also net sellers to the tune of QR13.73mn against net buyers of QR15.85mn on Monday.
More than 79% of the traded stocks extended gains with major movers being Qatar Islamic Bank, Masraf Al Rayan, Ooredoo, Vodafone Qatar, Industries Qatar, Gulf International Services, United Development Company (UDC), Mazaya Qatar, Ezdan, Nakilat, Qatari Investors Group, Dlala and Salam International Investment.
However, Barwa, Commercial Bank and al khaliji were seen to buck the trend.
Mazaya Qatar, UDC and Ezdan were the most active in terms of both volume and value respectively.
Total trading volume fell 22% to 18.51mn stocks, value by 9% to QR789.25mn and transactions by 11% to 8,182.
The transport sector’s trading volume plummeted 67% to 0.85mn equities, value by 65% to QR25.53mn and deals by 56% to 354.
The real estate sector saw its trading volume plunge 46% to 6.85mn shares, value by 38% to QR189.54mn and transactions by 46% to 1,844.
However, the consumer goods sector’s trading volume soared 68% to 2.22mn stocks, value by 10% to QR98.5mn and deals by 20% to 819.
The banks and financial services sector reported a 25% surge in trading volume to 5.3mn equities, 14% in value to QR261.95mn and 24% in transactions to 2,613.
The insurance sector’s trading volume grew 23% to 0.27mn shares, value by 46% to QR15.44mn and deals by 68% to 212.
The telecom sector saw its trading volume expand 15% to 1.48mn stocks and value by 14% to QR51.82mn but on a 24% decline in transactions to 455.
The market witnessed 11% rise in the industrials sector’s trading volume to 1.54mn equities, 24% in value to QR146.45mn and 22% in deals to 1,885.
Gulf Times
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