By Santhosh V Perumal
The Qatar Stock Exchange yesterday was back in the positive terrain, mainly buoyed by domestic institutions’ hunt for equities.
Buying interests - especially in the industrials, consumer goods and banking segments - led the 20-stock Qatar Index (based on price data) to gain 0.22% to 13,758.55 points amidst shrinking volumes.
However, net buying support from non-Qatari individual investors weakened in the market, which is up 32.55% year-to-date.
The index that tracks Shariah-principled stock was seen gaining faster than the other indices in the bourse, where trading volume was largely skewed towards real estate and banking stocks.
The Total Return Index rose 0.22% to 20,520.75 points, the All Share Index by 0.24% to 3,480.54 points and the Al Rayan Islamic Index by 0.32% to 4,674.79 points.
Foreign institutions continued to be bearish but with lesser vigour in the bourse, where capitalisation rose 0.33%, or more than QR2bn, to QR738.51bn.
Industrials stocks appreciated 0.81%, followed by consumer goods (0.61%), insurance (0.52%), banks and financial services (0.37%) and telecom (0.11%); whereas realty and transport fell 0.95% and 0.42% respectively.
Major gainers included Industries Qatar, QNB, Barwa, Commercial Bank, Doha Bank, Gulf International Services and Vodafone Qatar.
However, International Islamic, Alijarah Holding, Ezdan, Mazaya Qatar, United Development Company and Milaha bucked the trend.
Domestic institutions’ net buying surged to QR61.24mn against QR49.41mn the previous day.
Qatari retail investors’ net buying rose to QR8.28mn compared to QR4.71mn on Tuesday.
Non-Qatari individual investors’ net buying sunk to QR15.4mn against QR63.2mn the previous day.
Foreign institutions’ net profit-booking fell to QR84.93mn compared to QR117.23mn on Tuesday.
Total trading volume shrank 34% to 15.3mn shares, value by 24% to QR613.63mn and transactions by 23% to 5,869.
The consumer goods sector’s trade volume plummeted 58% to 0.33mn equities, value by 29% to QR26.8mn and deals by 29% to 323.
The real estate sector saw its trade volume plunge 42% to 8.92mn stocks, value by 36% to QR214.8mn and transactions by 36% to 2,053.
The transport sector’s trade volume tanked 29% to 0.41mn shares and value by 36% to QR12.38mn but deals were up 7% to 222.
The banks and financial services sector reported a 19% decline in trade volume to 3.2mn equities, 17% in value to QR214.77mn and 17% in transactions to 1,530.
The industrials sector’s trade volume contracted 14% to 0.95mn stocks, value by 16% to QR86.71mn and deals by 8% to 1,169.
However, the telecom sector saw its trade volume expand 6% to 1.29mn shares and value by 1% to QR40.59mn. Transactions were down 8% to 416.
Although the insurance sector’s trade volume was flat at 0.21mn equities, its value rose 26% to QR17.58mn despite 19% erosion in deals to 156.
In the debt market, there was no trading of treasury bills and government bonds.
Abu Dhabi’s Dana Gas jumps
Abu Dhabi shares rose 0.5% yesterday as heavyweight Abu Dhabi Commercial Bank climbed 1.5%.
Shares in energy firm Dana Gas gained 2.9% after it announced a deal with Egypt that will help it to recover most of the $280mn it is owed by the Cairo government.
Dubai’s index was flat in low-volume trading, while Saudi Arabia’s bourse slipped 0.05% as trading volume fell ahead of the long break for the holiday of Eid al-Adha.
The Cairo index pulled back 0.7% after hitting a fresh six-year closing high of 9,811 points on Tuesday. Elsewhere in the Gulf, Kuwait’s index edged up 0.2% to 7,634 points; Oman’s measure was flat at 7,484 points, while Bahrain’s index was flat at 1,476 points.
