QATAR: QE extends rally …market cap crosses QR500bn

Local retail investors’ buying interests yesterday helped extend the bullish run on the Qatar Exchange to the second day as the benchmark touched a new 27-month high and capitalisation crossed the QR500bn mark.

Realty, banking and telecom sectors witnessed robust appreciation as the 20-stock Qatar Index (based on price data) rose 0.60% to 8,938.10 points.

More than 57% of the stocks witnessed gains with major movers being United Development Company (UDC), QNB, Commercial Bank, Doha Bank, Gulf International Services, Barwa, Mazaya Qatar, Vodafone Qatar and Nakilat. Industries Qatar and Qatari Investors Group bucked the trend.

The 20-stock Total Return Index also gained 0.43% to 12,770.56 points, the All Share Index (comprising wider constituents) by 0.34% to 2,280.11 points and the Al Rayan Islamic Index by 0.45% to 2,715.82 points.

All the three indices factored in dividend income as well.

Under the All Share Index category, the index of real estate surged 1.38%, followed by banks and financial services (0.60%), telecom (0.58%), insurance (0.45%), consumer goods (0.40%) and transport (0.32%); while that of industrials fell 0.29%.

Industrials, consumer goods, telecom, transport, insurance and banks and financial services stocks have gained YTD 20.84%, 17.77%, 17.43%, 14.46%, 8.95% and 8.63% respectively. The index of realty has gained 3.95%.

Market capitalisation expanded 0.29%, or more than QR1bn, to QR500.86bn with mid, micro, small and large cap equities gaining 0.68%, 0.31%, 0.28% and 0.26% respectively.

Qatari individual investors’ net profit-booking plummeted to 3.47% or QR12.16mn. A much higher 44.24% of them purchased equities against 26.07% on Monday, while a lower 47.71% sold compared to 54.27%.

Non-Qatari individual investors’ net selling rose to 1.29% or QR4.52mn. A higher 12.59% of them bought equities against 7.62% the previous day and a higher 13.88% sold compared to 8.10%.

Domestic institutions turned net sellers to the tune of 4.94% or QR17.31mn. A much lower 22.11% of them were into buying against 38.80% on Monday and a lower 27.05% of them into selling compared to 32.73%.

Foreign institutions’ net buying plunged to 9.71% or QR34.03mn. A lower 21.07% of them bought equities against 27.50% the previous day, whereas a higher 11.36% offloaded compared to 4.89%.

Total trading volume fell 14% to 11.53mn shares and value by 32% to QR350.45mn but deals were up 2% to 5,158.

The industrials sector’s trading volume plummeted 44% to 0.78mn shares and value by 27% to QR49.81mn while transactions rose 1% to 855.

The consumer goods and services sector’s trading volume plunged 33% to 0.63mn shares, value by 26% to QR44.85mn and deals by 10% to 643.

The telecom sector’s trading volume tanked 32% to 2.39mn shares, value by 30% to QR31.31mn and transactions by 34% to 436.

The real estate sector’s trading volume declined 12% to 3.41mn shares, value by 11% to QR68.44mn and deals by 7% to 1,106.

The banks and financial services sector’s trading volume was down 4% to 3.01mn shares and value by 50% to QR124.63mn but deals surged 40% to 1,697.

However, the transport sector’s trading volume more than doubled to 1.20mn shares and value more than doubled to QR26.81mn on a mere 1% rise in transactions to 362.

The insurance sector’s trading volume expanded 25% to 0.10mn shares and value by 23% QR4.61mn whereas transactions shrank 17% to 59.

Actively traded stocks (in terms of volume) were Vodafone Qatar (2.31mn shares); UDC (2.28mn); Nakilat (1mn); Masraf Al Rayan (675,924) and Barwa (636,323).

In the debt market, there was no trading of treasury bills.

Sources: Caye Global News, Gulf Times

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