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Across-the-board buying yesterday helped the 20-stock Qatar Index gain for the fifth consecutive day by 1.07% to 13,985.98 points, an all-time closing high. PICTURE: Noushad Thekkayil
By Santhosh V Perumal/Business Reporter
Buoyed by buying interests from domestic institutions, the Qatar Stock Exchange yesterday inched near the psychological 14,000 mark and capitalisation gained another QR9bn.
An across-the-board buying - notably at the telecom, banking and transport counters – helped the 20-stock Qatar Index (based on price data) gain for the fifth consecutive day by 1.07% to 13,985.98 points, an all-time closing high, on higher volumes.
However, the index that tracks Shariah-principled stocks was seen gaining slower than the other indices in the market, which is up 34.75% year-to-date.
The Total Return Index rose 1.07% to 20,859.96 points, the All Share Index by 1.06% to 3,534.49 points and the Al Rayan Islamic Index by 0.4% to 4,718.21 points.
Local retail investors turned bearish and foreign institutions’ net buying support weakened in the bourse, where trading was largely skewed towards banks and realty stocks.
Market capitalisation gained 1.19% to QR742.62bn.
Telecom stocks appreciated 1.48%, followed by banks and financial services (1.27%), transport (1.11%), industrials (0.95%), insurance (0.79%), consumer goods (0.55%) and realty (0.38%).
About 70% of the stocks extended gains with major movers being QNB, Industries Qatar, Ooredoo, Vodafone Qatar, Commercial Bank, International Islamic, al khaliji, Gulf International Services, Ezdan and Nakilat.
However, Mazaya Qatar, Qatar Islamic Bank, Islamic Holding Group and Qatar National Cement were seen to buck the trend.
Domestic institutions turned net buyers to the tune of QR60.6mn against net sellers of QR56.57mn on Wednesday.
Foreign institutions’ net buying sunk to QR9.26mn compared to QR38.99mn the previous day.
However, Qatari retail investors turned net profit-takers to the extent of QR38.83mn against net buyers of QR10.49mn on Wednesday.
Non-Qatari individual investors were also net sellers to the tune of QR31.03mn compared with net buyers of QR7.14mn the previous day.
Total trading volume rose 54% to 14.85mn shares, value by 74% to QR812.38mn and transactions by 52% to 6,867.
The transport sector’s trading volume almost quadrupled to 0.57mn equities and value more than quadrupled to QR19.1mn on more-than-doubled deals to 253.
The banks and financial services sector witnessed more than tripling of trade volume to 8.87mn stocks and value more than doubled to QR491.72mn on almost-doubled-transactions to 3,183.
The market witnessed a 63% surge in the industrials sector’s trading volume to 1.32mn shares as value more than doubled to QR162.09mn and deals rose 59% to 1,699.
The real-estate sector saw its trading volume gain 4% to 2.6mn equities, value by 3% to QR60.01mn and transactions by 31% to 950.
Although the insurance sector’s trading volume was flat at 0.2mn stocks, value expanded 36% to QR16.04mn and deals by 36% to 171.
However, the consumer goods sector’s trading volume plummeted 74% to 0.57mn shares, value by 52% to QR33.25mn and transactions by 42% to 300.
The market witnessed a 14% shrinkage in the telecom sector’s trading volume to 0.72mn equities, 24% in value to QR30.17mn and 18% in deals to 311.
In the debt market, there was no trading of treasury bills and government bonds.
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