By Santhosh V Perumal
Business Reporter
The Qatar Stock Exchange largely remained flat yesterday despite strong buying interests in the telecom, insurance and industrials stocks.
Local retail investors and foreign institutions were however net buyers although the 20-stock Qatar Index (based on price data) was up mere 0.34 points to 14,137.67 points amid higher volumes.
The index that tracks Shariah-principled stocks was seen gaining in the market, which is up 36.27% year-to-date.
The Total Return Index was flat at 21,085.7 points but the All Share Index was down 0.05% to 3,569.92 points. The Al Rayan Islamic Index expanded 0.45% to 4,809.05 points.
Domestic institutions and non-Qatari retail investors were net sellers on the bourse, where trading was largely skewed towards banking, realty and telecom stocks.
Market capitalisation fell 0.28%, or more than QR2bn, to QR749.35bn. Micro, small and mid cap equities gained 0.51%, 0.38% and 0.23% respectively, whereas large caps lost 0.41%.
Telecom stocks gained 0.51%, followed by insurance (0.46%), consumer goods (0.29%), industrials (0.24%) and real estate (0.09%); while banks and financial services fell 0.42% and transport lost 0.14%.
Major gainers included Islamic Holding Group, Qatar National Cement, International Islamic and Doha Insurance; while QNB, Ezdan, Aamal Company, Al Meera and Gulf Warehousing bucked the trend.
Ezdan and Masraf Al Rayan dominated the trading ring in terms of both volume and value.
Qatari retail investors’ net buying rose to QR14.3mn against QR2.29mn on Monday.
Foreign institutions’ net buying soared to QR36.91mn compared to QR9.87mn the previous day.
Non-Qatari individual investors turned net sellers to the extent of QR12.48mn against net buyers of QR2.29mn on Monday.
Domestic institutions’ net profit-booking soared to QR38.81mn compared to QR14.44mn the previous day.
Total trading volume rose 80% to 19.59mn shares; value by 78% to QR866.48mn and transactions by 39% to 8,412.
The telecom sector’s trading volume grew more than five-fold to 3.11mn equities and value by almost five-fold to QR95.91mn on more-than-doubled deals to 937.
The market witnessed a 79% surge in the consumer goods sector’s trading volume to 2.88mn stocks, 53% in value to QR92.51mn and 8% in transactions to 780.
The banks and financial services sector reported a 75% expansion in trade volume to 7.1mn shares, 90% in value to QR422.29mn and 38% in deals to 3,344.
The real-estate sector saw its trading volume soar 65% to 4.51mn equities, value by 48% to QR102.34mn and transactions by 64% to 1,321.
The transport sector witnessed a 50% jump in trading volume to 0.48mn stocks, 33% in value to QR16.6mn and 31% in deals to 232.
The insurance sector’s trading volume was up 29% to 0.27mn shares, value by 73% to QR18.66mn and transactions by 31% to 217.
However, the industrials sector’s trading volume was down 9% to 1.24mn equities but value rose 30% to QR118.18mn and deals by 10% to 1,581.
In the debt market, there was no trading of treasury bills and government bonds.
