By Santhosh V Perumal
Business Reporter
Buying interest, especially at the banking and telecom counters, helped the Qatar Stock Exchange sustain the bullish run for the second day yesterday as its key index breached the 13,500 mark.
Foreign institutions’ hunt for equities led the 20-stock Qatar Index (based on price data) to gain 0.24% to 13,511.11 points as volumes shrank.
Large-caps were largely sought after in the market, which is up 30.17% year-to-date.
The index that tracks Shariah-principled stock was seen melting compared to gains in the other indices in the bourse, where trading volume was largely skewed towards real estate and banking stocks.
The Total Return Index rose 0.24% to 20,151.69 points and the All Share Index by 0.15% to 3,420.09 points; even as the Al Rayan Islamic Index was down 0.03% to 4,540.64 points.
However, Qatari and non-Qatari retail investors as well as domestic institutions turned net profit-takers in the market, whose capitalisation rose 0.32%, or more than QR2bn, to QR728.41bn.
Large and micro-cap equities were seen gaining 0.99% and 0.11%; while small and mid caps fell 1% and 0.45% respectively.
Banks and financial services stocks gained 0.98%, followed by telecom (0.41%) and insurance (0.23%), but transport shrank 0.84%, realty and industrials 0.48% each and consumer goods lost 0.4%.
Major gainers included Industries Qatar, QNB, Qatar Islamic Bank, Barwa and Vodafone Qatar.
However, Doha Bank, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Ezdan, Mazaya Qatar, United Development Company and Nakilat bucked the trend.
Ezdan, Masraf Al Rayan and Doha Bank were the most active in terms of volume and value.
Foreign institutions turned net buyers to the tune of QR32.98mn against net sellers of QR118.08mn the previous day.
However, domestic institutions turned net sellers to the extent of QR11.57mn compared with net buyers of QR43.38mn on Monday.
Qatari retail investors also turned net profit-takers to the tune of QR14.37mn against net buyers of QR81.46mn the previous day.
Non-Qatari individual investors’ net selling rose to QR7.08mn compared to QR6.75mn on October 13.
Total trade volume shrank 24% to 7.85mn shares, value by 26% to QR411.7mn and transactions by 18% to 4,638.
The telecom sector’s trade volume plummeted 47% to 0.55mn equities, value by 41% to QR17.02mn and deals by 35% to 255.
The real-estate sector saw its trade volume plunge 28% to 3.06mn stocks, value by 36% to QR66.71mn and transactions by 35% to 732.
The banks and financial services sector’s trade volume reported 27% shrinkage to 2.44mn shares, 31% in value to QR197.03mn and 21% in deals to 1,656.
The transport sector’s trade volume fell 16% to 0.16mn equities, but value was up 4% to QR8.16mn. Transactions eroded 30% to 109.
However, the consumer goods sector’s trade volume zoomed 33% to 0.52mn shares, while value fell 29% to QR20.28mn and deals by 5% to 282.
The market witnessed a 22% surge in the insurance sector’s trade volume to 0.11mn stocks, 2% in value to QR7.34mn and 22% in transactions to 121.
The industrials sector’s trade volume was up 3% to 1.01mn equities but on a 3% fall in value to QR95.15mn. Deals rose 1% to 1,483.
In the debt market, there was no trading in treasury bills and government bonds.
