Buying interests — particularly in consumer goods, insurance, banking and telecom — lifted the 20-stock Qatar Index by 0.42% to 11,872.4 points yesterday


By Santhosh V Perumal/Business Reporter


Qatar Exchange inched yesterday near the 11,900 levels mainly on domestic institutions’ buying support.
Buying interests — particularly in consumer goods, insurance, banking and telecom — lifted the 20-stock Qatar Index (based on price data) by 0.42% to a new five-and-a-half year high of 11,872.4 points.
Trading volumes were on the decline but largely skewed towards telecom and real estate stocks in the market, which is up 14.38% year-to-date.
However, the index that tracks Shariah-principled stocks was seen to under perform the other major indices in the market.
The 20-stock Total Return Index gained 0.42% to 17,079.3 points, All Share Index (with wider constituents) by 0.71% to 2,962.05 and Al Rayan Islamic Index by 0.32% to 3,385.85 points. All the three indices factored in dividend income as well.
Consumer goods stocks appreciated 2.1%, insurance (1.41%), banks and financial services (0.83%), telecom (0.7%), realty (0.43%) and industrials (0.37%); while transport fell 0.17%.
About 58% of the traded stocks gained with influential movers being QNB, Industries Qatar, Aamal Company, Doha Bank, Barwa, Mazaya Qatar, Vodafone Qatar, Ooredoo and Qatar Insurance.
However, Qatar Islamic Bank, Gulf International Services, United Development Company and Nakilat bucked the trend.
Market capitalisation rose 0.61% or about QR4bn to QR623.91bn. Small caps gained 0.84%, large caps (0.7%), mid caps (0.6%) and micro caps (0.45%). Domestic institutions’ net buying was QR27.74mn against QR14.24mn on Wednesday.
Foreign institutions’ net buying amounted to QR72.15mn compared to QR63.64mn the previous day.
Qatari retail investors’ net selling stood at QR67.64mn against QR50.74mn on Wednesday.
Non-Qatari individual investors’ net selling was QR32.25mn compared to QR27.14mn the previous day.
Total trading volume was down 8% to 18.98mn stocks, value by 20% to QR764.3mn and transactions by 2% to 6,415.
The insurance sector’s trading volume plummeted 72% to 0.44mn equities, value by 62% to QR22.44mn and deals by 39% to 396.
The banks and financial services sector reported 38% plunge in trading volume to 2.95mn shares and 41% in value to QR215.28mn but on 1% rise in transactions to 1,728.
The transport sector’s trading volume tanked 35% to 1.6mn stocks, value by 54% to QR44.86mn and deals by 49% to 347.
There was a 35% decline in consumer goods sector’s trading volume to 1.8mn equities, 27% in value to QR101.8mn and 8% in transactions to 987.
The real estate sector’s trading volume fell 29% to 5.37mn shares, value by 20% to QR159.92mn and deals by 14% to 1,100.
However, there was about seven-fold growth in telecom sector’s trading volume to 5.67mn stocks and more than quadrupled value to QR86.86mn on 79% jump in transactions to 505.
The industrials sector’s trading volume surged 89% to 1.15mn equities, value by 78% to QR133.14mn and deals by 50% to 1,352.
In the debt market, there was no trading of treasury bills and government bonds.