Foreign institutions’ substantial buying interests overpowered domestic institutions’ profit-booking to impart bullish momentum to the Qatar Exchange for the fifth consecutive day.
The telecom, realty and banking sectors were influential in lifting the 20-stock Qatar Index (based on price data) by 0.14% to 8,858.29 points to hit a 13-month high.
Local retail investors were seen paring their exposure in the market, which is up 5.97% year-to-date (YTD).
Major gainers included Ezdan Real Estate, QNB, United Development Company (UDC), Qatari Investors Group and Gulf International Services; even as Commercial Bank, Doha Bank, Al Meera, Industries Qatar, Vodafone Qatar and Milaha bucked the trend.
The 20-stock Total Return Index also gained 0.14% to 12,656.46 points and the All Share Index (comprising wider constituents) by 0.22% to 2,260.05 points while the Al Rayan Islamic Index fell 0.10% to 2,678.17 points.
All the three indices factored in dividend income as well.
Under the All Share Index category, the telecom index gained 0.49%, followed by real estate (0.48%), banks and financial services (0.29%), consumer goods (0.24%), insurance (0.19%) and industrials (0.15%); while that of transport fell 0.56%.
Industrials, telecom, consumer goods, transport, insurance and banking sectors outperformed the key indices, gaining YTD 20.33%, 15.86%, 14.36%, 13.19%, 8.58% and 8.02 respectively. The realty index gained 1.28%.
Market capitalisation expanded 1.09%, or more than QR5bn, to QR494.40bn with large and small cap equities notably gaining 0.53% and 0.50% respectively; even as micro caps fell 0.60%.
Large, small and mid cap equities have gained YTD 6.87%, 6.19% and 5.26% respectively; while micro caps have fallen 3.24%.
Of the 42 stocks, 17 advanced, while 18 declined, five were unchanged and two were not traded.
Foreign institutions turned net buyers to the tune of 37.96% or QR139.93mn. A much higher 48% of them bought equities against 19.93% on Tuesday whereas a much lower 10.04% offloaded compared to 21.86%.
Non-Qatari individual investors turned net buyers to the extent of 1.26% or QR4.64mn. A lower 9.37% of them bought equities against 11.38% the previous day and a lower 8.11% sold compared to 15.11%.
However, Qatari individual investors turned net profit takers to the tune of 3.62% or QR13.34mn. A much lower 25.36% of them purchased equities against 46.51% on Tuesday and a much lower 28.98% sold compared to 40.02%.
Domestic institutions’ net selling zoomed to 35.60% or QR131.23mn. A lower 17.27% of them were into buying against 22.18% the previous day while a much higher 52.87% of them into selling compared to 23%.
Total trading volume was up 6% to 12.14mn shares, whereas value fell 11% to QR368.63mn and deals by 17% to 4,302.
The telecom sector’s trading volume more than tripled to 0.79mn shares and value almost quadrupled to QR14.66mn on a 64% jump in transactions to 242.
The real estate sector’s trading volume surged 88% to 5.85mn shares, value by 88% to QR115.18mn and deals by 45% to 1,099.
The insurance sector’s trading volume soared 50% to 0.06mn shares, value by 67% to QR3.40mn and transactions by 73% to 52.
However, the consumer goods and services sector’s trading volume plummeted 57% to 0.54mn shares, value by 48% to QR33.17mn and deals by 49% to 381.
The transport sector’s trading volume plunged 36% to 0.63mn shares, value by 23% to QR15.94mn and transactions by 45% to 310.
The industrials sector’s trading volume tanked 31% to 1.61mn shares, value by 44% to QR62.21mn and deals by 30% to 923.
The banks and financial services sector’s trading volume declined 23% to 2.65mn shares, value by 19% to QR124.09mn and transactions by 20% to 1,295.
Actively traded stocks (in terms of volume) were UDC (4.80mn shares); Qatari Investors Group (900,306); Vodafone Qatar (715,551); Masraf Al Rayan (675,263) and Commercial Bank (642,182).
In the debt market, a total of 20,000 treasury bills (TA58) worth QR198.53mn changed hands across two transactions.
Source: Caye Global News, Gulf Times
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