By Santhosh V Perumal/Business Reporter
Foreign institutions’ increased buying support largely masked the selling pressure from other classes of investors as the Qatar Stock Exchange reached yet another all-time high yesterday.
Telecom and banking sectors were seen to experience buying interests, resulting in the 20-stock Qatar Index (based on price data) to gain another 0.32% to 13,393.34 points, ahead of the bourse entering the global index compiler Morgan Stanley Composite Index’s ‘emerging’ market segment from next week.
However, market capitalisation fell 0.24%, or about QR2bn, to QR733.65bn.
Although the market witnessed profit-booking in the first 60 minutes to reach a low of about 13,200 points, buying interests ensued for the next 180 minutes, which resulted in the index to surpass the 13,400 level.
However, strong selling pressure was seen for the next 30 minutes that drove the index down to the levels of 13,300, but at the fag end buying interests was seen to lift the index to settle a tad below the 13,400 level.
The index that tracks Shariah-principled stock was seen gaining much slower than the main index in the market, which is up 29.04% year-to-date.
Trading volume was on the rise and was skewed towards banks, real estate and telecom stocks.
The 20-stock Total Return Index gained 0.32% to 19,972.36 points, the All Share Index (with wider constituents) by 0.01% to 3,368.27 and the Al Rayan Islamic Index by 0.07% to 4,448.03. All the three indices factored in dividend income as well.
Telecom stocks gained 1.98% and banks and financial services 0.46%, while consumer goods shrank 2.75%, insurance 1.19%, transport 0.93%, realty 0.87% and industrials lost 0.05%.
About 70% of the stocks extended gains with major movers being Industries Qatar, Ooredoo, Masraf Al Rayan, Qatar Islamic Bank, Vodafone Qatar, Doha Bank and Commercial Bank.
However, QNB, Woqod, Ezdan, Aamal Company, Nakilat, Mazaya Qatar, Barwa, United Development Company, Gulf International Services, Mesaieed Petrochemical Holding, Alijarah Holding, Widam Food and Qatari Investors Group were seen to lose the steam.
Masraf Al Rayan, Barwa and Vodafone Qatar were the most active in terms of volume and value.
Foreign institutions’ net buying soared to QR260.94mn against QR110.23mn the previous day.
However, domestic institutions’ net selling surged to QR118.93mn compared to QR39.8mn on Sunday.
Qatari retail investors’ net selling rose to QR70.31mn against QR58.77mn the previous day.
Non-Qatari individual investors’ net profit booking strengthened to QR71.85mn compared to QR11.67mn on Sunday.
Total trading volume was up 3% to 27.69mn stocks, value by 16% to QR1.54bn and transactions by 14% to 13,231.
The insurance sector’s trading volume zoomed 93% to 0.27mn equities, value more than doubled to QR15.06mn and deals gained 65% to 214.
The market witnessed a 50% surge in the consumer goods sector’s trading volume to 1.9mn shares, 62% in value to QR197.1mn and 45% in transactions to 1,891.
The telecom sector’s trading volume soared 18% to 5.1mn stocks, value by 76% to QR202.98mn and deals by 49% to 1,289.
The banks and financial services sector reported a 17% expansion in trading volume to 11.54mn equities, 21% in value to QR717.01mn and 18% in transactions to 5,335.
However, the real estate sector’s trading volume plunged 26% to 6.39mn shares, value by 24% to QR217.81mn and deals by 9% to 2,240.
The transport sector saw its trading volume shrink 3% to 0.69mn stocks, value by 10% to QR19.49mn and transactions by 27% to 323.
The market witnessed a 3% decline in the industrials sector’s trading volume to 1.82mn equities and 7% in value to QR169.13mn but on 3% rise in deals to 1,939.
In the debt market, there was no trading of treasury bills and government bonds.
