21/05/2015 00:36 AST
Qatar Stock Exchange added 65 points to its main index, after remaining under bearish spell for the previous two days, on the back of strong buying interests in real estate and insurance stocks.
Buying support from Gulf Cooperation Council (GCC) individuals and institutions, albeit at lower levels, was visible as the 20-stock Qatar Index rose 0.52% to 12,522.3 points amid fall in trade volumes.
The index that tracks Shariah-principled stocks was seen rising faster than the other indices in the bourse, which reported 1.93% gains year-to-date.
Foreign institutions continued to be bullish but with lesser vigour in the market, where trading was largely skewed towards realty, banking, consumer goods and industrials sectors, whose stocks together accounted for more than 90% of the overall volume.
Market capitalisation expanded 0.36% or more than QR2bn to QR664.89bn with small, mid and micro cap stocks gaining 0.49%, 0.33% and 0.06% respectively; even as large caps were unchanged.
The Total Return Index rose 0.52% to 19,460.3 points, All Share Index by 0.44% to 3,334.21 points and Al Rayan Islamic Index by 0.56% to 4,774.94 points.
Real estate stocks appreciated 2.19%, insurance (0.95%), transport (0.38%), telecom (0.16%) and consumer goods and industrials (0.12% each); while banks and financial services fell 0.13%.
About 59% of the stocks extended gains with major movers being Ezdan, Barwa, United Development Company, Qatar Insurance, Milaha, Nakilat, Industries Qatar, Ooredoo, Qatar Islamic Bank, QIIB, al khaliji and Qatari Investors Group.
However, Doha Bank, Commercial Bank, Masraf Al Rayan, Islamic Holding Group, Qatar German Company for Medical Devices, Gulf International Services and Mesaieed Petrochemical Holding bucked the trend.
The GCC institutions turned net buyers to the tune of QR1.39mn against net sellers of QR36.26mn on May 19.
The GCC individual investors were also net buyers to the extent of QR0.5mn compared with net sellers of QR0.63mn on Tuesday.
However, domestic institutions turned net sellers to the tune of QR5.92mn against net buyers of QR1.2mn the previous day.
Local retail investors’ net profit booking strengthened to QR43.24mn compared to QR31.93mn on May 19.
Non-Qatari individual investors’ net selling also rose to QR4.08mn against QR0.06mn on Tuesday.
Non-Qatari institutions’ net buying weakened to QR51.35mn compared to QR67.84mn the previous day.
Total trade volume fell 18% to 15.73mn shares, value by 13% to QR497.06mn and transactions by 10% to 6,273.
There was 52% plunge in the telecom sector’s trade volume to 0.98mn equities, 49% in value to QR25.16mn and 30% in deals to 454.
The consumer goods sector’s trade volume plummeted 36% to 1.64mn stocks, value by 33% to QR37.17mn and transactions by 11% to 871.
The market witnessed 36% decline in the transport sector’s trade volume to 0.14mn shares, 41% in value to QR7.74mn and 51% in deals to 135.
The banks and financial services sector’s trade volume shrank 22% to 1.91mn equities, value by 11% to QR103.53mn and transactions by 6% to 1,152.
The real estate sector saw 11% fall in trade volume to 9.56mn stocks, 15% in value to QR215.91mn and 11% in deals to 2,394.
However, the insurance sector’s trade volume soared 40% to 0.42mn shares, value by 33% to QR36.91mn and transactions by 45% to 222.
There was 37% surge in the industrials sector’s trade volume to 1.07mn equities, 29% in value to QR70.64mn and 1% in deals to 1,045.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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