The Qatar Exchange opened the week on a stronger note yesterday with more than 68% of its stocks extending gains, after four straight sessions of a losing run.
Though foreign institutions were tilted towards selling, the bourse’s 20-stock Qatar Index (based on price data) rose 0.57% to 9,257.81 points despite investors largely remaining cautious due to the simmering Syrian tension.
Buying was more pronounced in the telecom, transport, consumer goods and insurance sectors, which outperformed the market’s key benchmarks.
The market, which is up 10.75% year-to-date, saw further squeezing of liquidity, especially on lower volumes in transport, industrials and banking counters.
Major gainers included Ooredoo, Vodafone Qatar, Nakilat, Milaha, al khaliji, Qatar Islamic Bank, Mazaya Qatar, Barwa and Qatari Investors Group, even as Gulf International Services, United Development Company and Salam International Investment bucked the trend.
The 20-stock Total Return Index gained 0.57% to 13,227.28 points, the All Share Index (with wider constituents) by 0.49% to 2,338 points and the Al Rayan Islamic Index by 0.50% to 2,654.33 points. All the three indices factored in dividend income as well.
Telecom stocks appreciated 2.45%, followed by transport (0.96%), consumer goods (0.92%), insurance (0.65%), banks and financial services (0.37%) and realty (0.02%), while industrials fell 0.01%.
Total market capitalisation expanded 0.22%, or more than QR2bn, to QR507.63bn. Small caps gained more than 1%, while micro and large caps rose 0.50% respectively.
Of the 42 stocks, 26 advanced, while only nine declined, three were unchanged and four were not traded.
Qatari individual investors continued to be bullish, but with lesser intensity, as their net buying fell to 3.99%, or QR6.75mn, against QR36.57mn last Thursday.
Domestic institutions’ bullish grip also slackened as their net buying sunk to 6.67%, or QR11.29mn, compared to QR32.35mn the previous trading day.
Non-Qatari individuals were bullish as their net buying was at 1.53%, or QR2.59mn, against QR2.05mn last Thursday.
Foreign institutions remained profit-takers, but with lesser intensity, as their net selling fell to 12.21%, or QR20.66mn, compared to QR70.97mn the previous day.
Total trading volume shrank 50% to 3.77mn stocks, value by 56% to QR169.23mn and transactions by 41% to 2,849.
The transport sector saw its trading volume plummet 60% to 0.38mn stocks, value by 50% to QR17.27mn and deals by 53% to 199.
The industrials sector witnessed a 58% plunge in trading volume to 0.51mn stocks, 66% in value to QR40.45mn and 51% in transactions to 616.
The banking sector’s trading volume tanked 57% to 1.22mn shares, value by 62% to QR52.13mn and deals by 38% to 936.
The real estate sector saw its trading volume tank 35% to 0.74mn equities, value by 35% to QR14.48mn and transactions by 27% to 368.
There was a 34% decline in telecom sector’s trading volume to 0.42mn equities, 50% in value to QR14.39mn and 45% in deals to 292.
The market witnessed 33% shrinkage in consumer goods sector’s trading volume to 0.48mn shares, 34% in value to QR28.49mn and 27% in transactions to 414.
However, the insurance sectors’ trading volume gained 50% to 0.03mn shares, but value more than doubled to QR2.03mn. Deals were down 11% to 24.
In the debt market, there was no trading of bonds and treasury bills.