QE extends gains on institutional buy lift
May 06 2013 11:26 PM
   More than 57% of the stocks extended gains to investors yesterday.
More than 57% of the stocks extended gains to investors yesterday.

By Santhosh V Perumal/Business Reporter

Buying interests from foreign institutions yesterday sustained the bullish momentum on the Qatar Exchange for the third consecutive day.

Banking and realty sectors were instrumental in lifting the 20-stock Qatar Index (based on price data) by 0.55% to 8,834.13 points.

A feeble buying support was also visible from domestic institutions in the market, which is up 5.68% year-to-date (YTD).

More than 57% of the stocks extended gains with major movers being QNB, Commercial Bank, Qatari Investors Group, United Development Company (UDC), Barwa, Ezdan and Nakilat; even as Industries Qatar and Vodafone Qatar bucked the trend.

The 20-stock Total Return Index also gained 0.55% to 12,621.94 points, the All Share Index (comprising wider constituents) by 0.63% to 2,252.75 points and the Al Rayan Islamic Index by 0.31% to 2,685.87 points. All the three indices factored in dividend income as well.

Under the All Share Index category, the insurance index gained the maximum of 1.85%, followed by banks and financial services (1.24%), real estate (0.60%), telecom (0.49%), transport (0.48%) and consumer goods (0.22%), while the industrials measure fell 0.19%.

Industrials, telecom, transport, consumer goods, insurance and banking sectors outperformed the key indices, gaining YTD 20.99%, 15.96%, 14.11%, 13.64%, 7.98% and 6.87% respectively. The realty index managed to drive back in positive trajectory as its index gained a wee 0.52%.

Market capitalisation rose 0.72%, or about QR4bn, to QR488.93bn with large, small and micro cap equities notably gaining 0.96%, 0.65% and 0.26% respectively.

Large, small and mid cap equities have gained YTD 6.08%, 5.14% and 4.95% respectively, while micro caps tanked 2.91%.

Of the 42 stocks, 24 advanced, while 14 declined, one was unchanged and three were not traded.

Foreign institutions’ net buying surged to 7.77% or QR26.09mn. A higher 24.50% of them bought equities against 19.18% on Sunday, whereas a marginally lower 16.73% offloaded compared to 17.32%.

Domestic institutions’ net selling sunk to 2.29% or QR7.69mn. A marginally higher 20.91% of them were into buying against 19.81% the previous day, while a lower 23.20% of them into selling compared to 25.33%.

Qatari individual investors turned net sellers to the tune of 1.62% or QR5.44mn. A lower 43.77% of them purchased equities against 46.28% on Sunday, whereas a higher 45.39% sold compared to 41.10%.

Non-Qatari individual investors’ net profit-booking rose to 3.85% or QR12.93mn. A lower 10.83% of them bought equities against 14.73% the previous day and a lower 14.68% sold compared to 16.26%.

Total trading volume was down 3% to 10.73mn shares, value by 1% to QR335.80mn and deals by 8% to 4,300.

The consumer goods and services sector’s trading volume plummeted 58% to 0.81mn shares, value by 31% to QR34.88mn and transactions by 31% to 423.

The insurance sector’s trading volume plunged 20% to 0.04mn shares, value by 17% to QR1.80mn and deals by 29% to 41.

The telecom sector’s trading volume tanked 14% to 0.55mn shares, value by 28% to QR8.75mn and transactions by 11% to 246.

However, the industrials sector’s trading volume surged 39% to 0.99mn shares, while value fell 28% to QR47.40mn and deals by 12% to 721.

The transport sector’s trading volume soared 13% to 0.96mn shares, whereas value shrank 5% to QR22.68mn and transactions by 20% to 453.

The real estate sector’s trading volume gained 8% to 5mn shares, value by 8% to QR96.02mn and deals by 1% to 1,066.

The banks and financial services sector’s trading volume was up 6% to 2.39mn shares, value by 29% to QR124.27mn and transactions by 6% to 1,350.

Actively traded stocks (in terms of volume) were UDC (4.08mn shares); Nakilat (792,514); Qatari Investors Group (749,701); Qatari German Company for Medical Devices (536,369) and Vodafone Qatar (513,972).

In the debt market, there was no trading of treasury bills.



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