By Santhosh V Perumal
Business Reporter
The Qatar Stock Exchange continued to be under bullish spell for the third straight session, gaining another 40 points, but failed to break the 12,000 resistance level on Thursday.
Realty and telecom counters outperformed the 20-stock Qatar Index, which rose 0.34% to 11,987.71 points as trade volumes were also on the rise.
The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the bourse, which is, however, down 2.43% year-to-date.
Domestic institutions buying interests was largely instrumental in lifting the market, where real estate, telecom and banking stocks accounted for about three-fourth of the total trading volume.
Market capitalisation was up 0.22% or more than QR1bn to QR643.85bn with large, micro and small cap stocks gaining 0.34%, 0.31% and 0.22% respectively; even as mid caps lost 0.56%.
The Total Return Index rose 0.34% to 18,627.96 points, All Share Index by 0.24% to 3,197.21 points and Al Rayan Islamic Index by 0.72% to 4,467.5 points.
Realty stocks soared 1.41%, telecom (0.68%), banks and financial services (0.33%) and consumer goods (0.08%); whereas insurance tanked 2.16%, transport (0.35%) and industrials (0.08%).
About 61% of the stocks extended gains with major movers being Ezdan, QNB, Qatar Islamic Bank, Commercial Bank, Aamal Company, Barwa, Mazaya Qatar, Vodafone Qatar, Ooredoo and Al Meera.
However, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, United Development Company and Milaha were seen bucking the trend.
Domestic institutions turned net buyers to the tune of QR11.36mn against net sellers of QR38.46mn on Wednesday.
The Gulf Cooperation Council (GCC) individual investors’ net buying strengthened to QR3.68mn compared to QR1.61mn on April 8.
Non-Qatari institutions’ net buying weakened to QR2.5mn against QR21.33mn the previous day.
Local retail investors’ net buying also fell to QR1.77mn compared to QR6.03mn on Wednesday.
However, the GCC institutions turned net sellers to the extent of QR3.55mn against net buyers of QR5.08mn on April 8.
Non-Qatari individual investors turned net profit takers to the tune of QR15.77mn compared with net buyers of QR4.38mn the previous day.
Total trade volume rose 41% to 13.46mn shares, value by 24% to QR454.54mn and transactions by 22% to 5,979.
The consumer goods sector’s trade volume more than doubled to 1.33mn equities, value was up 5% to QR52.43mn and deals by 67% to 856.
The telecom sector’s trade volume more than doubled to 1.78mn stocks and value almost tripled to QR50.48mn on 71% jump in transactions to 473.
The market witnessed 37% surge in the real estate sector’s trade volume to 6.55mn shares, 19% in value to QR142.38mn and 9% in deals to 1,705.
The transport sector’s trade volume shot up 22% to 0.45mn equities, value by 23% to QR18.63mn and transactions by 9% to 224.
There was 20% expansion in the industrials sector’s trade volume to 1.43mn stocks, 9% in value to QR85.07mn and 10% in deals to 1,292.
The insurance sector’s trade volume soared 20% to 0.18mn shares, value by 59% to QR10.75mn and transactions by 26% to 111.
The banks and financial services sector reported 6% rise in trade volume to 1.74mn equities, 20% in value to QR94.79mn and 24% in deals to 1,318.
In the debt market, there was no trading of treasury bills and government bonds.
