QSE market capitalisation yesterday expanded 1.44% to reach QR728.59bn.

By Santhosh V Perumal/Business Reporter

Local retail investors’ buying interests yesterday lifted the Qatar Stock Exchange to above the 12,550 level and capitalisation added more than QR10bn.

Telecom and banking counters witnessed more than average buying pressure as the 20-stock Qatar Index (based on price data) rose another 0.78% to 12,550.98 points.

The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the bourse, which is up 20.92% year-to-date.

Trading volumes rose and was mainly skewed towards realty, telecom, banking and industrials equities.

The 20-stock Total Return Index gained 0.78% to 18,716.23 points, the All Share Index (with wider constituents) by 0.74% to 3,238.25 and the Al Rayan Islamic Index by 1.42% to 4,100.03 points.

All the three indices factored in dividend income as well.

Telecom stocks appreciated 1.6%, followed by banks and financial services (1.13%), industrials (0.49%), insurance (0.35%), transport (0.3%) and consumer goods (0.05%), whereas real estate fell 0.5%.

More than 51% of the stocks returned gains with major movers being Vodafone Qatar, Ezdan, Mazaya Qatar, Aamal Company, Nakilat, Qatar Islamic Bank, International Islamic, Masraf Al Rayan, Mesaieed Petrochemical Holding, Gulf International Services, Qatari Investors Group and Widam Food.

However, Industries Qatar, QNB, Barwa and United Development Company bucked the trend.

Market capitalisation expanded 1.44% to QR728.59bn. Large and mid caps gained more than 1% each, and small and micro caps rose 0.46% and 0.13% respectively.

Qatari retail investors turned net buyers to the tune of QR37.77mn against net sellers of QR28.64mn on Wednesday.

Non-Qatari individual investors’ net profit-booking plunged to QR1.86mn compared to QR25.61mn the previous day.

Foreign institutions’ net buying fell to QR38.14mn against QR83.55mn on Wednesday.

Domestic institutions’ net profit-booking surged to QR74.06mn compared to QR29.37mn the previous day.

Total trading volume rose 6% to 37.11mn stocks, value by 9% to QR1.24bn and transactions by 19% to 14,405.

The industrials sector’s trading volume more than doubled to 4.85mn equities, value shot up 78% to QR262.79mn and deals by 45% to 3,535.

The transport sector’s trading volume also more than doubled to 2.27mn shares, value expanded 54% to QR55.11mn and transactions by 37% to 768.

The real estate sector saw its trading volume surge 18% to 12.2mn stocks, value by 17% to QR309.57mn and deals by 28% to 3,158.

However, the telecom sector’s trading volume plummeted 30% to 7.92mn equities, value by 25% to QR142.03mn and transactions by 4% to 1,729.

The market witnessed an 18% plunge in the insurance sector’s trading volume to 0.33mn shares, 26% in value to QR16.79mn and 28% in deals to 203.

The consumer goods sector saw its trading volume tank 5% to 2.8mn stocks, value by 21% to QR103.63mn and transactions by 29% to 951.

The banks and financial services sector reported less than 1% fall in trading volume to 6.74mn equities but on a less than 1% rise in value to QR348.46mn and 26% in deals to 4,061.

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