QE sustains high buy interest …

Buying interests — especially in transport, telecom and consumer goods — yesterday extended the bullish momentum on the Qatar Exchange for the second day.

Domestic institutions continued to be net buyers but with lesser vigour as the 20-stock Qatar Index (based on price data) gained 0.21% to 10,375.06 points.

The market, which is up 24.12% year-to-date, yesterday witnessed losers outnumbering gainers.

The key index has been remaining above the 10,000 mark since November 11.

Local retail investors were seen to extend buying support, resulting in their reduced net selling.

Faster slippage in trading volumes in real estate, telecom and industrials led to overall erosion in the market liquidity.

Prime movers included Commercial Bank, Nakilat, Barwa, Vodafone Qatar and Qatar Insurance Company.

However, QNB, Industries Qatar, Doha Bank, Qatari Investors Group, United Development Company and Mazaya Qatar bucked the trend.

The 20-stock Total Return Index rose 0.21% to 14,823.59 points, All Share Index (with wider constituents) by 0.06% to 2,582.45 points and Al Rayan Islamic Index by 0.7% to 3,031.88 points.

All the three indices factored in dividend income as well.

Insurance stocks gained 0.76%, transport (0.69%), telecom (0.56%), consumer goods (0.44%) and industrials (0.06%); while banks and financial services fell 0.24%.

Market capitalisation was down 0.06% or QR36mn to QR555.03bn. Small cap equities were seen to lose more than 1% and micro caps by 0.21%; while mid caps gained 0.58%.

Domestic institutions were net buyers to the tune of QR23.58mn compared to QR47.61mn on Wednesday.

Foreign institutions’ net buying stood at QR10.76mn against QR7.31mn the previous day.

Qatari individual investors were net sellers to the extent of QR9.01mn compared with net buyers of QR47.57mn on Wednesday.

Non-Qatari individuals were increasingly profit takers as their net selling rose to QR25.3mn against QR7.35mn the previous day.

Total trading volume fell 29% to 10.5mn stocks, value by 25% to QR317.39mn and transactions by 27% to 4,386. The real estate sector’s trading volume plummeted 65 to 1.43mn shares, value by 67% to QR30.91mn and deals by 55% to 505.

The market witnessed 65% plunge in industrials sector’s trading volume to 0.31mn equities, 59% in value to QR29.47mn and 47% in transactions to 572.

The telecom sector’s trading volume tanked 53% to 2.13mn stocks, value by 58% to QR27.23mn and deals by 36% to 507.

The insurance sector saw its trading volume decline 50% to 0.13mn stocks, value by 43% to QR8.02mn and transactions by 52% to 106.

There was 23% shrinkage in consumer goods sector’s trading volume to 0.77mn shares, while value rose 31% to QR33.37mn. Deals fell 32% to 460.

However, the banks and financial services sector reported 51% surge in trading volume to 3.84mn equities, 23% in value to QR146.8mn and 1% in transactions to 1,737.

The transport sector’s trading volume gained 28% to 1.9mn shares, value by 21% to QR41.6mn and deals by 32% to 500.

In the debt market, there was no trading of bonds and treasury bills. Gulf Times

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