By Santhosh V. Perumal
Business Reporter
Banking stocks propelled the Qatar Stock Exchange on Tuesday to near 11,700 mark and capitalisation got about QR8bn thrust.
Local and non-Qatari retail investors’ net buying support lifted the 20-stock Qatar Index 1.32% to 11,673.45 points as trade volumes were also on the rise.
Foreign institutions were seen net profit takers in the market, which is, however, down 4.98% year-to-date.
Large cap stocks were mainly seen higher in demand in the bourse, where banking, real estate and telecom stocks accounted for about 77% of the total trading volume.
Market capitalisation expanded 1.24% to QR631.24bn with large, mid and small cap stocks gaining 2.4%, 0.95% and 0.79%; while micro caps were down 0.04%.
The Total Return Index gained 1.32% to 18,011.05 points, All Share Index by 1.2% to 3,111.99 points and Al Rayan Islamic Index by 1.23% to 4,246.42 points.
Banks and financial services stocks surged 2.56%, insurance (1.49%), telecom (1.34%), consumer goods (0.94%) and industrials (0.76%); even as realty and transport fell 1.13% and 0.2% respectively.
Major gainers included QNB, Qatar Islamic Bank, Commercial Bank, Masraf AL Rayan, Industries Qatar, Aamal Company, Qatar Electricity and Water and Vodafone Qatar; whereas Mesaieed Petrochemical Holding, Ezdan, Mazaya Qatar and Nakilat bucked the trend.
Qatari individual investors turned net buyers to the tune of QR33.98mn against net sellers of QR30.53mn the previous day.
Non-Qatari retail investors’ net buying strengthened to QR9.92mn compared to QR3.72mn on March 23.
However, foreign institutions turned net sellers to the tune of QR45.52mn against net buyers of QR16.84mn on Monday.
Domestic institutions’ net buying weakened to QR1.62mn compared to QR10.01mn the previous day.
Total trade volume rose 6% to 8.08mn shares and value by 12% to QR403.81mn but transactions were down 6% to 4,729.
The insurance sector’s trade volume almost quadrupled to 0.26mn stocks and value also almost quadrupled to QR20.02mn on 26% jump in deals to 82.
The telecom sector’s trade volume more than tripled to 1.21mn equities and value more than doubled to QR28.25mn on 45% expansion in transactions to 626.
However, the consumer goods sector’s trade volume plummeted 37% to 0.22mn shares, while value rose 16% to QR18.77mn. Deals were down 5% to 283.
The market witnessed 15% plunge in the industrials sector’s trade volume to 1.18mn stocks but on 7% rise in value to QR110.32mn. Transactions declined 20% to 1,551.
The transport sector’s trade volume tanked 13% to 0.21mn equities, even as value rose 12% to QR7.04mn. Deals were down 4% to 105.
The banks and financial services sector reported 4% decline in trade volume to 2.59mn shares and less than 1% value to QR152.36mn; even as there was 17% slippage in transactions to 1,227.
The real estate sector saw its trade volume decline 3% to 2.41mn stocks, whereas value gained 3% to QR67.05mn and deals by 19% to 855.
In the debt market, there was no trading of treasury bills and government bonds.
