Qatar stocks extend gains to inch near 8,500 mark

31/01/2012 07:46 AST

The Qatar Exchange extended gains to the fourth day yesterday by 0.61% to inch near the 8,500 mark, mainly paced by Masraf Al Rayan and Commercialbank.

The 20-stock benchmark settled at 8,491.56 despite profit-booking by both local and foreign retail investors.

The market is down 3.21% year-to-date.

About 55% of the stocks, which included Dlala Holding, extended gains to investors.

The industrial sector witnessed the maximum buying interest as its group index rose 0.71%, followed by banks (0.70%), services (0.43%) and insurance (0.12%).

Market capitalisation gained 0.47% or more than QR2bn to QR440.18bn with large, micro, small and mid cap equities gaining 0.77%, 0.65%, 0.24% and 0.18% respectively.

Of the 42 stocks, 23 advanced, while only 10 declined, two were unchanged and seven not traded.

Domestic institutions turned bullish as they were net buyers to the tune of 14.85% against net sellers of 1.69% the previous day.

A lower 23.30% of them bought equities compared to 27.27% on Sunday but a much lower 8.45% offloaded against 28.96%.

On the other hand, foreign institutions turned profit-takers as they were net sellers to the extent of 4.49% compared with net buyers of 0.55% the previous day.

A much higher 25.59% of them were into buying against 14.70% on Sunday and a much higher 30.08% of them into selling compared to 14.15%.

Qatari individual investors turned bearish as they were net sellers to the tune of 7.69% against net buyers of 0.12% the previous day.

A lower 38.86% of them purchased equities compared to 45.09% on Sunday whereas a higher 46.55% sold against 44.97%.

Non-Qatari retail investors also turned profit-takers that they were net sellers to the extent of 2.67% compared with net buyers of 1.03% the previous day.

A marginally lower 12.25% of them were into buying against 12.95% on Sunday while a higher 14.92% were into offloading compared to 11.92%.

Total trading volumes shrank 34% to 4.90mn equities, value by 26% to QR170.86mn and deals by 24% to 2,657.

The industrial sector’s trading volume plummeted 73% to 0.91mn shares, value by 52% to QR46.90mn and transactions by 62% to 494.

The insurance sector’s trading volume plunged 60% to 0.04mn shares, value by 48% to QR2.80mn and deals by 13% to 63.

The services sector’s trading volume tanked 38% to 1.33mn shares, value by 38% to QR36.19mn and transactions by 19% to 885.

However, banks’ trading volume soared 39% to 2.62mn shares, value by 22% to QR84.97mn and deals by 15% to 1,215.

Actively traded stocks (in terms of volume) were Rayan (2.11mn shares); United Development Company (469,032); Barwa (266,697); Industries Qatar (254,553) and Nakilat (221,987).

There were no trades in the 10 treasury bills.

Gulf Times