By Santhosh V Perumal/Business Reporter
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The QE benchmark settled mere 0.01% higher at 8,790.73 points |
The 20-stock benchmark settled mere 0.01% higher at 8,790.73 points although there was strong buying support from local and non-Qatari retail investors. The market is up 0.13% year-to-date.
Major gainers included Gulf Warehousing, Qatar Electricity and Water and Aamal Company; even as Masraf Al Rayan, Qatar Islamic Bank, Al Khalij Holding, Mawashi, Dlala, Gulf International Services (GIS) and Mazaya Qatar bucked the trend.
The indices of insurance and services gained 1.52% and 0.10%; while those of banks and industrials fell 0.11% and 0.02% respectively.
Market capitalisation was up 0.05% or QR24mn to QR463.35bn with mid and small cap equities notably gaining 0.27% and 0.18% respectively; whereas large caps lost 0.04%.
Of the 42 stocks, 16 advanced, while 19 declined, five were unchanged and two were not traded.
Qatari individual investors continued to be profit takers but with lesser intensity as their net selling sunk to 9.72% from 15.95% the previous day.
A much higher 47.14% of them purchased equities compared to 35.19% on Wednesday although a higher 56.86% sold against 51.14%.
Non-Qatari retail investors were increasingly bullish as their net buying surged to 3.17% from 0.24% the previous day.
A higher 19.57% of them were into buying against 15% on Wednesday although a higher 16.40% were into offloading compared to 14.76%.
Domestic institutions’ bullish grip marginally eased as their net buying fell to 6.34% from 7.60% the previous day.
A lower 22.59% of them bought equities against 29.11% on Wednesday and a lower 16.25% offloaded compared to 21.51%.
Foreign institutions continue to be bullish but with lesser vigour as their net buying sunk to 0.21% from 8.12% the previous day.
A lower 10.71% of them were into buying against 20.71% on Wednesday and a lower 10.50% of them into selling compared to 12.59%.
Total trading volume was down 6% to 11.38mn equities, value by 22% to QR322.44mn and deals by 3% to 5,405.
The insurance sector’s trading volume plummeted 85% to 0.04mn shares, value by 89% to QR2.11mn and transactions by 74% to 53.
The banking sector’s trading volume plunged 28% to 1.23mn shares, value by 44% to QR50.59mn and deals by 19% to 750.
The industrials’ trading volume tanked 24% to 0.78mn shares, value by 48% to QR25.55mn and transactions by 24% to 445.
However, the services sector’s trading volume was up 3% to 9.34mn shares whereas value fell 5% to QR244.19mn but deals gained 8% to 4,157.
Actively traded stocks (in terms of volume) were Dlala (1.89mn shares); Nakilat (1.52mn); GIS (970,433); Aamal Company (942,690) and Rayan (923,684).
Reuters adds: A negative global backdrop weighed on United Arab Emirates bourses yesterday as risk-averse investors reduced positions, and most other regional markets also ended lower.
Dubai’s index retreated 2% to 1,649 points, giving back Wednesday’s gains but it remains 21.8% up year-to-date.
“We’re seeing a high-correlation with global markets and sentiment,” said Rami Sidani, Schroders Middle East head of investment. “Dubai outperformed regional markets yesterday (Wednesday) and, on days of negative global sentiment, investors here book profits.”
Abu Dhabi’s benchmark slipped 0.5% to 2,553 points, its lowest close since February 23. The move cut 2012 gains to 6.3%.
In Oman, the bourse retreated for a fifth session as some stocks went ex-dividend. The benchmark dipped 0.5% to 5,690 points, its lowest close since February 22.
Elsewhere, Kuwait’s index ended 0.4% lower 6,165 points, down for a fourth session in five. The Egyptian benchmark index retreated 0.4% to 5,019 points, while Bahrain’s measure ticked up 0.2% to 1,152 points.