QE passed the 11,000 mark for first time …

The Qatar Exchange yesterday entered the tenth straight session of a bull run to surpass the 11,000 mark for the first time since 2008, mainly on foreign institutions’ QR113mn net buying support.
Led by banking, insurance and transport counters, the 20-stock Qatar Index settled 0.89% higher at 11,019.86 points.
“It’s purely a play of domestic factor. Dividend expectations have been building up, a usual phenomenon associated with earnings season,” an analyst said.
However, local retail investors’ net buying was stronger as the QR3.23bn initial public offer of Mesaieed Petrochemical Holding Company, a Qatar Petroleum subsidiary, closes next week.
Small-cap equities witnessed the maximum buying pressure in the market, which is up 6.17% year-to-date.
The index that tracks Shariah-principled stocks was seen to under perform the other indices on the bourse, whose index gained more than 1,000 points in 43 trading days.
The 20-stock Total Return Index rose 0.89% to 15,744.85 points, the All Share Index (with wider constituents) by 0.85% to 2,723.8 and the Al Rayan Islamic Index by 0.82% to 3,228.51.
All the three indices factored in dividend income as well.
Banks and financial services stocks appreciated 1.25%, followed by insurance (1.17%), transport (0.9%), industrials (0.73%), real estate (0.35%) and consumer goods (0.01%); while telecom fell 0.19%.
About 59% of the stocks extended gains with influential movers being QNB, Doha Bank, Masraf Al Rayan, International Islamic, Industries Qatar, Qatari Investors Group, Gulf International Services, United Development Company, Mazaya Qatar, Milaha and Qatar Islamic Insurance.
However, Qatar Islamic Bank, Barwa, Vodafone Qatar and Nakilat bucked the trend.
Market capitalisation expanded 0.71%, or more than QR4bn, to QR580.57bn. Small-cap stocks gained more than 1%, followed by mid (0.88%), large (0.83%) and micro (0.61%).
Foreign institutions’ net buying stood at QR112.9mn against QR24.73mn the previous day.
Domestic institutions’ net buying was QR22.32mn compared to QR27.95mn on Sunday.
Non-Qatari institutions’ net selling amounted to QR17.39mn against QR6.74mn the previous day.
Qatari individual investors’ net selling was QR117.75mn compared to QR45.94mn on Sunday.
Total trading volume more than doubled to 17.43mn stocks; value also more than doubled to QR724.64mn on an 80% jump in transactions to 7,200.
The industrials sector’s trading volume grew more than seven-fold to 2.95mn equities, while value almost quadrupled to QR188.52mn on more-than-doubled deals to 1,836.
The real estate sector’s trading volume rose more than five-fold to 4.78mn shares and value more than tripled to QR75.82mn on almost tripled transactions to 1,109.
The market witnessed an almost tripling of the insurance sector’s trading volume to 0.59mn stocks and more than tripling of value to QR33.82mn on almost tripled deals to 400.
The transport sector’s trading volume more than tripled to 0.82mn equities and value more than quadrupled to QR32.1mn on a 70% expansion in transactions to 283.
The banks and financial services sector reported more-than-doubled trading volume to 5.37mn shares, value soared 75% to QR294.32mn and transactions by 69% to 2,562.
The consumer goods sector’s trading volume surged 49% to 1.3mn stocks, value by 20% to QR78.49mn and deals by 19% to 622.
However, the telecom sector’s trading volume tanked 10% to 1.61mn equities, value by 14% to QR21.58mn and transactions by 23% to 388.
In the debt market, there was no trading of treasury bills. However a total of 10,000 government bonds valued at QR101.39mn changed hands across one deal.

UAE stocks surge on Q4 optimism

UAE stock markets surged yesterday because of optimism towards fourth-quarter earnings.
Property shares led gains in Dubai, pushing the main index up 1.3% to a new five-year high. Union Properties surged 9.6%.
Shares in Shuaa Capital climbed 4.0% after the investment bank swung to a profit in the fourth quarter of 2013 and for the full year. It made a full-year net profit of 2.8mn dirhams ($769,000), compared to a loss of 59mn dirhams in 2012.
Abu Dhabi’s index rose 0.9%, also hitting a five-year high.
In Saudi Arabia, losses in the petrochemical sector overshadowed gains in some banks. Riyad Bank surged 4.7% to its highest since September 2008, continuing a rise that began on Wednesday when it posted a 27.2% jump in fourth-quarter net profit, beating forecasts.
“People are looking at Riyad as a long-term play, given the results and solid dividends,” said John Sfakianakis, chief investment strategist at Saudi investment firm MASIC.
However, Banque Saudi Fransi shares ended well off their intra-day low of 32.50 riyals, and NCB Capital said it remained positive on the stock as it believed provisions would not be repeated at such high levels.
The Saudi petrochemical shares index slipped 0.4%, underperforming the main index, which was flat.
Oman’s index slipped 0.3% to 7,137 points.
Elsewhere, Kuwait’s measure retreated 0.2% to 7,629 points. Gulf Times

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