29/03/2017 05:54 AST
The Qatar Stock Exchange on Tuesday witnessed gains for the second day, mainly on foreign institutions’ increased buying support, but failed to break the 10,500 levels.
Industrials, telecom and realty sectors mainly lifted the 20-stock Qatar Index up 0.32% or 33 points to 10,461.81 points, rebounding from an intra-day low of less than 10,400 points.
The Gulf individual investors’ bullish outlook also helped the market, which was back in positive trajectory year-to-date with gains of 0.24%.
The maximum buying was in micro and large cap equities on the bourse, which however saw increased net selling by domestic institutions and local retail investors.
Islamic stocks were seen gaining faster than the main index as well as other indices in the market, where non-Qatari individuals turned net sellers and there was weakened net buying support from Gulf institutions.
Trade turnover and volumes expanded in the bourse, where telecom, banking and real estate sectors together accounted for about 89% of the total volumes.
Market capitalisation expanded more than QR2bn or 0.45% to QR560.48bn as micro, large and midcap equities gained 0.99%, 0.36% and 0.03% respectively; while small caps fell 0.18%.
The Total Return Index rose 0.32% to 17,338.95 points, All Share Index by 0.29% to 2,944.72 points and Al Rayan Islamic Index by 0.37% to 4,148.1 points.
The industrials sector saw its index add 0.72%, telecom (0.65%), realty (0.47%), banks and financial services (0.18%) and consumer goods (0.08%); whereas insurance and transport declined 0.53% and 0.06% respectively.
More than 57% of the stocks saw gains with major movers being Industries Qatar, Vodafone Qatar, Commercial Bank, Qatari German Company for Medical Devices, Al Khaleej Takaful, Aamal Company, Mesaieed Petrochemical Holding, Gulf International Services, QNB, Barwa, Mazaya Qatar, Dlala, Islamic Holding Group, Widam Food and Gulf Warehousing.
Nevertheless, Ooredoo, Milaha, Masraf Al Rayan, Alijarah Holding, Qatari Investors Group and Qatar General Insurance and Reinsurance were among the losers.
Non-Qatari institutions’ net buying strengthened substantially to QR69.4mn compared to QR23.8mn the previous day.
The GCC (Gulf Cooperation Council) retail investors turned net buyers to the tune of QR2.74mn against net sellers of QR0.53mn on Monday.
However, domestic institutions’ net selling increased considerably to QR44.91mn compared to QR13.08mn on March 27.
Local retail investors’ net profit booking increased to QR20.07mn against QR17.06mn the previous day.
Non-Qatari individual investors turned net sellers to the extent of QR10.92mn compared with net buyers of QR0.6mn on Monday.
The GCC institutions’ net buying weakened perceptibly to QR3.76mn against QR6.31mn on March 27.
Total trade volumes rose 18% to 15.7mn shares, value by 17% to QR391.22mn and deals by 7% to 5,043.
The insurance sector’s trade volume almost tripled to 0.21mn equities and value more than tripled to QR13.03mn on more than doubled transactions to 174.
There was 70% surge in the real estate sector’s trade volume to 3.79mn stocks, 62% in value to QR68.34mn and 46% in deals to 930.
The consumer goods sector’s trade volume soared 64% to 0.36mm shares, value by 89% to QR23.68mn and transactions by 55% to 393.
The industrials sector reported 35% expansion in trade volume to 0.88mn equities but on 18% decline in value to QR33.88mn. Deals were up 1% to 643.
The telecom sector’s trade volume increased 17% to 5.89mn stocks, value by 1% to QR64.23mn and transactions by 1% to 1,060.
However, the banks and financial services sector saw 9% decline in trade volume to 4.23mn shares but on 9% jump in value to QR171.65mn despite 7% fall in deals to 1,680.
The transport sector’s trade volume was down 8% to 0.34mn equities; while value rose 24% to QR16.41mn. Transactions shrank 38% to 163.
Gulf Times
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