Realty, transport rally keeps QE’s winning streak intact

By Santhosh V Perumal/Business ReporterA strong upward rally, especially in real estate and transport counters, yesterday lifted the Qatar Exchange for the third straight session.Domestic institutions were seen extending the buying support as the 20-stock Qatar Index (based on price data) rose by 0.65% to 9,761.03 points. The market is up 16.77% year-to-date.Overall liquidity was on the rise as realty, consumer goods and transport stocks witnessed faster rise in volumes.About 79% of the traded stocks extended gains to investors with major movers being QNB, Barwa, United Development Company, Gulf International Services, al khaliji, Mazaya Qatar, Qatari Investors Group, Nakilat and Milaha; even as Industries Qatar and Commercial Bank bucked the trend.The 20-stock Total Return Index also gained 0.65% to 13,946.28 points, the All Share Index (with wider constituents) by 0.55% to 2,452.17 points and the Al Rayan Islamic Index by 0.88% to 2,805.35 points. All the three indices factored in dividend income as well.Real estate stocks appreciated the maximum of 2.01%, followed by transport (1.52%), insurance (0.66%), telecom (0.65%), industrials (0.41%) and banks and financial services (0.35%), while consumer goods fell marginally by 0.02%.Total market capitalisation expanded 0.42%, or more than QR2bn, to QR530.14bn. Small and mid cap equities were seen gaining more than 1% each and micro caps by about 1%.Domestic institutions’ profit-booking weakened as their net selling sunk to QR4.23mn compared to QR14.45mn the previous day.Foreign institutions continued to be bullish, but with lesser vigour, as their net buying fell to QR12.11mn against QR16.85mn on Wednesday.Qatari individual investors turned profit-takers as they were sellers to the tune of QR1.07mn compared with net buyers of QR4.98mn the previous day.Non-Qatari individuals’ bearish grip slackened as their net selling fell to QR6.81mn against QR7.41mn on Wednesday.Total trading volume rose 19% to 6.91mn stocks, value by 12% to QR289.74mn and transactions by 23% to 3,750.The consumer goods sector’s trading volume more than doubled to 0.4mn shares and value also more than doubled to QR54.61mn as deals more than doubled to 663.There was a 54% surge in transport sector’ trading volume to 0.88mn stocks, 61% in value to QR20.25mn and 58% in transactions to 379.The telecom sector’s trading volume soared 39% to 0.32mn shares, but value jumped about seven-fold to QR22.02mn as deals doubled to 202.The market witnessed a 29% gain in real estate sector’s trading volume to 2.38mn shares, 41% in value to QR55.77mn and 41% in transactions to 719.However, the insurance sector’s trading volume plummeted 88% to 0.02mn shares, value by 88% to QR1.22mn and deals by 79% to 34.The industrials sector’s trading volume plunged 12% to 0.95mn stocks, value by 34% to QR55.74mn and 8% in transactions to 896.The banking sector’s trading volume was down 3% to 1.42mn equities and value by 6% to QR80.13mn, while there was an 18% rise in deals to 857.In the debt market, there was no trading of treasury bills and bonds.