26/12/2014 05:42 AST
Domestic institutions’ buying interests kept up the bullish momentum in the Qatar Stock Exchange for the second day on Thursday.
An across the board buying – particularly in the real estate, telecom and insurance counters – led the 20-stock Qatar Index (based on price data) gain 0.74% to 12,449.05 points as volume also rose.
However, local retail investors’ profit booking strengthened in the bourse, which is up 19.94% year-to-date.
Market capitalisation rose 0.68% or about QR5bn to QR679.33bn with micro and mid cap equities notably gaining 2.44% and 1.66% respectively.
The index that tracks Shariah-principled stocks was seem gaining faster than the other indices in the market, where trade was highly skewed towards realty, which alone accounted for more than 64% of the total trade volume.
The Total Return Index gained 0.74% to 18,567.64 points, All Share Index by 0.74% to 3,163.86 points and Al Rayan Islamic Index by 1.58% to 4,176.28 points.
Real estate stocks appreciated 2.26%, telecom (1.61%), insurance (0.99%), consumer goods (0.69%), industrials (0.55%), transport (0.52%), banks and financial services (0.24%).
About 70% of the stocks extended gains with major movers being Barwa, Mazaya Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Islamic Holding Group, Dlala, Commercial Bank, Qatar Islamic Bank, Aamal Company and Vodafone Qatar. However, Industries Qatar, Milaha and al khaliji bucked the trend.
Domestic institutions’ net buying strengthened to QR89.89mn against QR27.89mn the previous day.
Non-Qatari individual investors’ net buying fell to QR12.39mn compared to QR20.18mn on Wednesday.
Foreign institutions’ net profit booking weakened to QR3.01mn against QR10.29mn on December 24.
However, Qatari retail investors’ net selling surged to QR99.37mn compared to QR37.79mn the previous day.
Total trade volume rose 73% to 22.83mn shares, value by 38% to QR910.77mn and transactions by 37% to 8,651.
The telecom sector’s trade volume more than doubled to 2.01mn equities, value surged 36% to QR38.99mn and deals by 15% to 575.
The real estate sector’s trade volume more than doubled to 14.63mn stocks and value doubled to QR466.28mn on 86% jump in transactions to 3,628.
The transport sector witnessed 39% expansion in trade volume to 0.75mn shares and value more than doubled to QR45.3mn on 41% rise in deals to 379.
The banks and financial services sector reported 14% gain in trade volume to 2.97mn equities, 7% in value to QR192.44mn and 49% in transactions to 2,116.
The consumer goods sector’s trade volume was up 12% to 0.73mn stocks, while value fell 22% to QR43.72mn and deals by 8% to 594.
However, there was 10% plunge in the insurance sector’s trade volume to 0.27mn shares but value rose 4% to QR18.36mn and transactions by 29% to 217.
The industrials sector’s trade volume was down 3% to 1.48mn equities, value by 14% to QR105.68mn and deals by 15% to 1,142.
In the debt market, there was no trading of treasury bills and government bonds.
Gulf Times
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