QSE surged 3.42%, gained QR21bn
January 08 2015 05:04 PM


By Santhosh V. Perumal/Business Reporter

More than 90% of the stocks gained and as much as QR21bn was added in capitalisation as the Qatar Stock Exchange surged 3.42% on Thursday; its best performance so far in this year.

An across the board buying – particularly in the banks and industrials – led the 20-stock Qatar Index (based on price data) add 407 points for the second consecutive day to 12,305.52 points, seen as a reaction to the rebound of oil prices.

The index that tracks Shariah-principled stocks was seen powering the bourse, which is up 0.16% year-to-date.

Market capitalisation expanded 3.15% to QR677.44bn with large, micro, mid and small cap equities gaining 3.83%, 2.83%, 2.43% and 1.3% respectively.

Domestic institutions were seen bullish in the market, where trade was highly skewed towards realty, industrials and banks, which accounted for about 82% of the total trade volume.

The Total Return Index gained 3.42% to 18,353.57 points, All Share Index by 3.11% to 3,151.47 points and Al Rayan Islamic Index by 3.83% to 4,130.69 points.

Banks and financial services stocks appreciated 3.65%, industrials (3.42%), realty (3.22%), transport (2.18%), insurance (1.72%), telecom (1.31%) and consumer goods (1.29%).

Major movers included Industries Qatar, QNB, Qatar Islamic Bank, Commercial Bank, Doha Bank, Masraf Al Rayan, Nakilat, Vodafone Qatar, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Barwa, Mazaya Qatar, United Development Company, Ezdan and Islamic Holding Group; even as Mannai Corporation bucked the trend.

Domestic institutions’ net buying rose to QR119.28mn compared to QR65.81mn the previous day.

Non-Qatari individual investors were net buyers to the tune of QR7.6mn.

Foreign institutions’ net profit booking rose to QR70.79mn against QR43.31mn on Wednesday.

Qatari retail investors’ net selling strengthened to QR56.09mn compared to QR22.56mn on January 7.

Total trade volume vaulted 71% to 20.78mn shares, value by 94% to QR999.83mn and transactions by 41% to 10,475.

The insurance sector’s trade volume grew more than six-fold to 0.19mn stocks and value by about 11-fold to QR15.46mn on more than tripled deals to 161.

The transport sector’s trade volume more than tripled to 1.07mn equities and value also more than tripled to QR33.97mn on 90% jump in transactions to 299.

The market witnessed 97% surge in the consumer goods sector’s trade volume to 0.67mn shares, value more than doubled to QR46.34mn and deals rose 54% to 722.

The industrials sector’s trade volume shot up 81% to 4.67mn stocks and value more than doubled to QR338.82mn on 76% expansion in transactions to 3,446.

The real estate sector saw its trade volume soar 78% to 9.4mn equities, value by 98% to QR301.96mn and deals by 49% to 2,835.

The banks and financial services reported 33% surge in trade volume to 2.89mn shares, 33% in value to QR225.02mn and 4% in transactions to 2,279.

The telecoms sector saw its trade volume gain 31% to 1.89mn stocks, value by 27% to QR38.26mn and deals by 3% to 733.

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

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