QATAR: Strong buying support from foreign institutions lifted the Qatar Exchange …

Doha / QATAR: Strong buying support from foreign institutions yesterday further lifted the Qatar Exchange. An across-the-board-buying momentum, particularly in consumer goods and telecom, resulted in the 20-stock Qatar Index (based on price data) to gain 0.45% to 9,808.46 points amidst shrinkage in trading volumes.

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Major gainers included United Development Company, Barwa, Qatar Islamic Bank, Commercial Bank, Industries Qatar and Gulf International Services; even as Alijarah Holding and Milaha bucked the trend.

The market is up 17.34% year-to-date. The 20-stock Total Return Index was also up 0.45% to 14,014.03 points, the All Share Index (comprising wider constituents) by 0.45% to 2,467.36 points and the Al Rayan Islamic Index by 0.25% to 2,814.59 points. All the three indices factored in dividend income as well.

Under the All Share Index category, the consumer goods returned 1.05% gains; followed by telecom (0.86%), insurance (0.71%), real estate (0.54%), industrials (0.40%), banks and financial services (0.35%) and transport (0.04%). Market capitalisation expanded to QR537.18bn. Of the 42 stocks, 27 advanced; while only 12 declined, two were unchanged and one was not traded.

Foreign institutions were increasingly net buyers to the tune of 8.10% or QR19.79mn, while their domestic counterparts were net sellers to the extent of 7.93%, or QR19.37mn. On the retail side, Qatari individuals were net buyers to the tune of 1.24%, or QR3.03mn, and non-Qatari investors were also net buyers to the extent of 1.07% or QR2.61mn. A total of 4.96mn stocks valued at QR244.27mn changed hands across 3,251 transactions.

The realty sector saw a total of 1.45mn shares with a value of QR28.84mn trade across 414 deals; while the banks and financial services sector witnessed 1.74mn equities worth QR79.38mn change hands across 1,026 transactions. A total of 0.85mn industrials stocks valued at QR80.87mn traded in 1,011 deals and a total of 0.17mn insurance equities worth QR9.04mn changed hands across 122 transactions.

The consumer goods sector witnessed 0.30mn shares worth QR22.69mn change hands across 305 deals. Telecom and transport sectors reported stock trading volume of 0.22mn and 0.23mn valued at QR12.78mn and QR10.67mn across 125 and 248 transactions respectively. In the debt market, there was no trading of treasury bills and bonds.

Sources: The Peninsula, Gulf Times, Caye Global News, BBC News

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