By Santhosh V Perumal
Business Reporter
The Qatar Stock Exchange continued to remain in the positive trajectory yesterday, mainly lifted by the banking, telecom and industrials stocks.
Local retail investors’ net buying, albeit with lesser intensity, helped the 20-stock Qatar Index (based on price data) to gain 0.19% to close at 14,165.05 points amid declining volumes.
The index that tracks Shariah-principled stocks was seen losing compared to other indices in the market, which is up 36.47% year-to-date.
The Total Return Index rose 0.19% to 21,127.04 points and the All Share Index by 0.26% to 3,579.24 points, while the Al Rayan Islamic Index fell 0.16% to 4,801.53 points.
Foreign institutions continued to be bullish, but with lesser vigour, in the bourse, where trading was largely skewed towards banks, realty and telecom stocks.
Market capitalisation rose 0.38%, or about QR3bn, to QR752.21bn. Large-cap equities gained 0.63%; while micro caps fell 0.46% and small and mid caps lost 0.1% each.
Banks and financial services appreciated 0.59%, followed by telecom (0.4%) and industrials (0.3%), whereas realty shrank 0.94%, transport 0.4%, consumer goods 0.25% and insurance fell 0.11%.
Major gainers included QNB, Industries Qatar, Ooredoo, Qatar Islamic Bank, International Islamic, Islamic Holding Group and Qatar Islamic Insurance, but Commercial bank, Barwa and United Development Company bucked the trend.
Qatari retail investors’ net buying fell to QR12.81mn against QR14.3mn on Tuesday.
Foreign institutions’ net buying also sunk to QR23.78mn compared to QR36.91mn the previous day.
Non-Qatari individual investors’ net selling surged to QR16.62mn against QR12.48mn on Tuesday.
Domestic institutions’ net profit-booking fell to QR19.92mn compared to QR38.81mn the previous day.
Total trading volume fell 50% to 9.76mn shares; value by 46% to QR470.92mn and transactions by 33% to 5,605.
The real-estate sector’s trade volume plummeted 54% to 2.07mn equities, value by 50% to QR50.78mn and deals by 43% to 759.
The consumer goods sector saw its trade volume plunge 53% to 1.34mn stocks, value by 53% to QR43.9mn and transactions by 31% to 540.
The banks and financial services sector reported a 52% decline in trade volume to 3.39mn shares, 47% in value to QR222.59mn and 32% in deals to 2,280.
The market witnessed a 50% shrinkage in the telecom sector’s trade volume to 1.57mn equities, 55% in value to QR43.58mn and 59% in transactions to 381.
The industrials sector’s trading volume dipped 36% to 0.79mn stocks, value by 37% to QR74.86mn and transactions by 24% to 1,198.
The transport sector’s trade volume was down 31% to 0.33mn shares, value by 27% to QR12.13mn and deals by 16% to 195.
However, the insurance sector’s trading volume fell 4% to 0.26mn equities, while value rose 24% to QR23.09mn and transactions by 16% to 252.
In the debt market, there was no trading of treasury bills and government bonds.
Masraf Al Rayan acquires
Al Rayan Partners
Masraf Al Rayan has acquired Al Rayan Partners, a project management company, from its fully-owned subsidiary Al Rayan Investment, as part of restructuring its group entities.
The acquisition of Al Rayan Partners, with a capital of QR10mn, is to enable Al Rayan Investment focus on its core business; investment and financial advisory activities, a Masraf Al Rayan spokesman said in a communiqué to the Qatar Stock Exchange.
Al Rayan Partners ownership has been transferred to Masraf Al Rayan at a value equal to its book value as on December 31, 2013, which is QR13.64mn, said the spokesman.
Masraf Al Rayan’s management is also studying the potential to convert the ownership of its share in Linc Facility Services Company to the ownership of Al Rayan Partners due to the similar nature of their activities.
