By Santhosh V Perumal
Qatar Stock Exchange yesterday added another 128 points to inch near the 13,800 levels on strong buying interests, especially in telecom, industrials and transport stocks.
Foreign institutions’ sustained buying support lifted the 20-stock Qatar Index (based on price data) for the second day by 0.94% to 13,775.89 points.
Micro, small and large caps largely came under buying spotlight in the market, which is up 32.72% year-to-date.
The index that tracks Shariah-principled stock was seen rising faster than the other indices in the bourse, where trading volume was largely skewed towards realty, banking, consumer goods and transport stocks.
The Total Return Index rose 0.94% to 20,546.6 points, All Share Index by 0.92% to 3,475.53 points and Al Rayan Islamic Index by 1.13% to 4,595.86 points.
Market capitalisation expanded 0.92% or about QR7bn to QR741.8bn with micro, small, large and mid cap equities gaining 1.64%, 1.39%, 1.02% and 0.37% respectively.
Telecom stocks appreciated 2.58%, industrials (1.31%), transport (1.12%), banks and financial services (0.76%), realty (0.56%) and consumer goods (0.28%); while insurance was down 0.16%.
About 67% of the stocks extended gains with major gainers being Industries Qatar, Ooredoo, Vodafone Qatar, Commercial Bank, Doha Bank, Qatar Islamic Bank, Masraf Al Rayan, Barwa, Ezdan, Salam International Investment, Gulf Warehousing, Islamic Holding and Qatar Oman Investment.
However, al khaliji, Qatar Electricity and Water, Mazaya Qatar and Qatar Islamic Insurance were seen bucking the trend.
Ezdan continued to be the most active in terms of volume and value.
Foreign institutions’ net buying fell to QR70.04mn against QR80.49mn on Tuesday.
However, domestic institutions turned net sellers to the tune of QR6.41mn compared with net buyers of QR6.03mn the previous day.
Qatari retail investors’ net profit booking fell to QR48.8mn against QR56.95mn on Tuesday.
Non-Qatari individual investors’ net selling sunk to QR15.02mn compared to QR29.58mn the previous day.
Total trade volume rose 13% to 25.96mn shares, value by 13% to QR956.78mn and transactions by 12% to 9,002.
There was 19% expansion in the industrials sector’s trade volume to 1.25mn equities; 26% in value to QR125.12mn and 47% in deals to 1,749.
The transport sector’s trade volume soared 18% to 2mn stocks, value by 67% to QR110.76mn and transactions by 51% to 612.
The telecom sector saw its trade volume surge 15% to 1.02mn shares; even as value fell 17% to QR29.12mn and deals by 5% to 423.
The insurance sector’s trade volume expanded 15% to 0.3mn equities and value by 8% to QR22.22mn but transactions were down 2% to 254.
The banks and financial services sector’s trade volume gained 14% to 3.52mn stocks but value fell 1% to QR250.26mn. Deals were up 6% to 2,203.
The market witnessed 12% rise in the real estate sector’s trade volume to 15.46mn shares, 8% in value to QR351.12mn and 2% in transactions to 3,092.
The consumer goods sector saw its trade volume enhance 9% to 2.42mn equities, value by 11% to QR68.18mn and deals by 8% to 669.
In the debt market, there was no trading of treasury bills and government bonds.
