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By Santhosh V. Perumal/Business Reporter
Transport and consumer goods stocks led Qatar Stock Exchange open the week on a stronger note.
Stronger net buying by domestic institutions and the Gulf Cooperation Council (GCC) individuals’ net buying interests helped the 20-stock Qatar Index gain 0.25% to 12,195.04 amid fall in trade volumes.
The index that tracks Shariah-principled stocks was seen gaining much faster than the other indices in the bourse, which is down 0.74% year-to-date.
However, local retail investors turned bearish and their GCC counterparts’ net buying weakened in the market, where trading was skewed towards realty, banking and consumer goods stocks, which together accounted for about three-fourth of the overall volume.
Market capitalisation rose 0.34% or more than QR2bn to QR655.99bn with micro, small and large cap equities gaining 1.19%, 0.84% and 0.27% respectively.
The Total Return Index was up 0.25% to 18,951.73 points, All Share Index by 0.34% to 3,261.62 points and Al Rayan Islamic Index by 1.1% to 4,667.91 points.
Transport stocks appreciated 1.56%, consumer goods (1.23%), industrials (0.66%), banks and financial services (0.06%) and real estate (0.06%); while insurance and telecom fell 0.2% and 0.11% respectively.
Major gainers included Industries Qatar, Gulf Warehousing, Nakilat, Mazaya Qatar, United Development Company, Qatar Islamic Bank, Doha Bank, Alijarah Holding, Qatari German Company for Medical Devices, Al Meera, Widam Food and Salam International Investment.
However, QNB, Barwa, Ezdan, Vodafone Qatar, Mesaieed Petrochemical Holding, Qatar Insurance, Gulf International Services and Dlala bucked the trend.
Domestic institutions’ net buying strengthened to QR25.38mn against QR1.41mn the previous trading day.
The GCC individual investors turned net buyers to the tune of QR1.41mn compared with net sellers of QR2.03mn on April 30.
Non-Qatari institutions’ net profit booking weakened to QR4.46mn against QR31.27mn last Thursday.
However, local retail investors turned net sellers to the extent of QR20.58mn against net buyers of QR12.01mn the previous day.
Non-Qatari individual investors also turned net profit takers to the tune of QR5.05mn compared with net buyers of QR3.05mn on April 30.
The GCC institutions’ net buying weakened to QR3.36mn against QR16.78mn last Thursday.
Total trade volume fell 17% to 7.06mn shares, value by 42% to QR256.33mn and transactions by 22% to 4,318.
The market witnessed 71% plunge in the telecom sector’s trade volume to 0.6mn equities, 73% in value to QR12.3mn and 72% in deals to 258.
The industrials sector’s trade volume plummeted 60% to 0.57mn stocks, value by 66% to QR46.19mn and transactions by 37% to 779.
The insurance sector saw its trade volume shrink 50% to 0.04mn shares, value by 45% to QR2.25mn and deals by 43% to 50.
The banks and financial services sector reported 5% decline in trade volume to 1.81mn equities, 56% in value to QR60.44mn and 31% in transactions to 1,079.
However, the transport sector’s trade volume more than doubled to 0.57mn stocks, value soared 36% to QR22.1mn and deals by 43% to 313.
There was 25% surge in the real estate sector’s trade volume to 2.43mn shares, 21% in value to QR77.37mn and 16% in transactions to 1,057.
The consumer goods sector’s trade volume expanded 25% to 1.05mn equities, value by less than 1% to QR35.66mn and deals by 30% to 782.
In the debt market, there was no trading of treasury bills and government bonds.
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