Qatar Exchange index above 12,200 mark…

Qatar Exchange yesterday entered the 10th consecutive day of bull-run, lifting the key index above the 12,200 mark; thus reaching the pre-2008 levels with ease, and capitalisation added about QR10bn.

Buying interests of local retail investors and foreign institutions led the 20-stock Qatar Index (based on price index) gain about 1% to 12,216.75 points.

Heavy buying demand was particularly seen in telecom and transport sectors on the bourse, which is up 17.7% year-to-date.

Trading volumes, however, fell and was skewed mainly towards real estate, industrials, banking and telecom equities.

The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the bourse.

The 20-stock Total Return Index gained 0.98% to 18,171.25 points, All Share Index (with wider constituents) by 0.73% to 3,127.93 and Al Rayan Islamic Index by 1.18% to 3,840.94 points. All the three indices factored in dividend income as well.

Telecom stocks surged 2.35%, transport (2.08%), banks and financial services (0.81%), consumer goods (0.65%), industrials (0.22%) and realty (0.1%); while insurance fell 0.34%.

About 61% of the stocks extended gains with major movers being QNB, Ooredoo, Nakilat, Masraf Al Rayan, al khaliji, Commercial Bank, Doha Bank, Mazaya Qatar, Ezdan, United Development Company, Gulf International Services, Mesaieed Petrochemical Holding and Al Meera. However, Industries Qatar, Qatar Islamic Bank, Barwa and Vodafone Qatar were seen to buck the trend.

Market capitalisation rose 1.45% to QR683.05bn. Small, large and mid cap equities gained 1.98%, 1.06% and 0.52% respectively, while micro caps were largely flat.

Qatari retail investors turned net buyers to the tune of QR21.88mn against net sellers of QR2.97mn on Sunday.

Foreign institutions’ net buying amounted to QR74.46mn, compared to QR31.94mn the previous day.

Domestic institutions’ net selling surged to QR100.44mn against QR13.89mn on Sunday.

Non-Qatari individual investors were net buyers to the extent of QR4.1mn, compared with net profit takers of QR14.96mn the previous day.

Total trading volume fell 15% to 32.6mn stocks, while value was up 5% to QR1.24bn and transactions by 3% to 13,266.

The telecom sector’s trading volume plummeted 67% to 4.28mn equities, value by 61% to QR80.16mn and deals by 50% to 963. The insurance sector witnessed 63% plunge in trading volume to 0.11mn shares; value by 71% to QR4.78mn and transactions by 45% to 137.

The consumer goods sector’s trading volume tanked 52% to 1.66mn stocks, value by 36% to QR124.91mn and deals by 38% to 1,082.

The banks and financial services sector reported 8% decline in trading volume to 7.03mn equities but on a 14% gain in value to QR309.26mn and 12% in transactions to 3,347.

However, the industrials sector’s trading volume shot up 57% to 7.26mn shares, value by 39% to QR401.79mn and deals by 28% to 4,566.

The market witnessed 42% surge in the transport sector’s trading volume to 1.19mn stocks, 24% in value to QR28.51mn and 40% in transactions to 528.

The real estate sector’s trading volume expanded 35% to 11.06mn equities, value by 61% to QR293.67mn and deals by 29% to 2,643.

In the debt market, there was no trading of treasury bills and government bonds. Source: gulf Times

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