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By Santhosh V Perumal
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The Qatar Exchange yesterday witnessed a sustained bullish momentum for the second day to inch near the 10,500 levels with only one week left for the QR3.23bn maiden offer from a Qatar Petroleum subsidiary to hit the market.
Buying interests was particularly visible in industrials, real estate and telecom sectors as the 20-stock Qatar Index (based on price data) rose 0.43% to 10,498.45 points.
The index that tracks Shariah-principle stocks were high in demand in the day, which also witnessed small cap equities mainly coming under buying pressure.
Mesaieed Petrochemical Holding Company — which comprises Q-Chem I, Q-Chem II and Qatar Vinyl Company — is offering 323.19mn shares at QR10.2 per share through its IPO, which will hit the market later this month.
The Qatari bourse’s key index has been remaining above the 10,000 mark for the 30th consecutive day.
Foreign institutions remained bullish amidst lower exposure in the market, which is up 25.6% year-to-date.
About 54% of the stocks extended gains with influential movers being Industries Qatar, Qatar Electricity and Water, Barwa, Mazaya Qatar, Vodafone Qatar and Commercial Bank.
However, Masraf Al Rayan, Gulf International Services and Nakilat bucked the trend.
The 20-stock Total Return Index rose 0.43% to 14,999.88 points, All Share Index (with wider constituents) by 0.37% to 2,610.72 and Al Rayan Islamic Index by 1.04% to 3,097. All the three indices factored in dividend income as well.
Industrials stocks surged 1.03%, realty (1%), telecom (0.58%), insurance (0.35%), consumer goods (0.11%) and transport (0.11%); while banks and financial services fell 0.08%.
Market capitalisation gained 0.32% or about QR2bn to QR558.71bn. Small cap stocks appreciated more than 2% and mid caps about 1%; while large and micro caps fell.
Qatari individual investors net selling was QR4.27mn against QR47.75mn the previous day.
Non-Qatari institutions’ were net sellers to the tune of QR3.15mn compared to net buyers QR3.53mn on Monday.
Domestic institutions were net sellers to the extent of QR7.98mn against net buyers of QR14.34mn the previous day.
Foreign institutions’ net buying was QR15.44mn compared to QR36.84mn on Monday.
Total trading volume fell 29% to 10.6mn stocks, value by 28% to QR374.79mn and transactions by 25% to 5,260.
The insurance sector’s trading volume plummeted 93% to 0.15mn equities, value by 95% to QR0.45mn and deals by 58% to 28. The transport sector witnessed 68% plunge in trading volume to 0.56mn shares, 62% in value to QR16.03mn and 64% in transactions to 189.
The telecom sector’s trading volume tanked 38% to 1.77mn stocks, value by 39% to QR22mn and deals by 39% to 431.
There was a 31% decline in the consumer goods sector’s trading volume to 0.56mn equities, 48% in value to QR22.16mn and 28% in transactions to 355.
The banks and financial services sector reported 25% shrinkage in trading volume to 2.54mn shares, 53% in value to QR101.8mn and 29% in deals to 1,460.
The real estate sector’s trading volume fell 19% to 2.73mn stocks, value by 26% to QR62.8mn and transactions by 25% to 917.
The industrials sector’s trading volume was down 7% to 2.43mn equities, value by 3% to QR149.55mn and deals by 2% to 1,880.
In the debt market, there was no trading of treasury bills and government bonds.
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