QSE opens week on a strong note on QCB stance on interest rate
October 04 2015 11:32 PM

The QSE’s market capitalisation rose 0.27% or about QR2bn to QR604.91bn with small, mid and micro cap equities gaining 0.95%, 0.48% and 0.1% respectively; while large caps fell 0.2% yesterday.

By Santhosh V Perumal
Business Reporter

Qatar Stock Exchange yesterday opened the week on a stronger note as its key index gained 61 points to cross the 11,500 mark, mainly on the back of buying interests of domestic institutions.
The 20-stock Qatar Index rose 0.53% to 11,514.12 points, which is reflective of the Qatar Central Bank’s stance on maintaining soft interest rate regime to support the economic growth and bolster the corporate sector.
Qatar Central Bank governor Sheikh Abdulla bin Saoud al-Thani had on Thursday said the central bank will not necessarily increase the interest rates, considering the domestic environment.
Nevertheless, buying interests of local retail investors weakened and there was higher net profit booking by foreign institutions in the market, which is down 6.28% year-to-date.
The index that tracks Shariah-principled stocks was, however, seen gaining faster than the other indices in the bourse, where trading was largely skewed towards the real estate sector, which alone constituted more than 62% of the trading volume.
Market capitalisation rose 0.27% or about QR2bn to QR604.91bn with small, mid and micro cap equities gaining 0.95%, 0.48% and 0.1% respectively; while large caps fell 0.2%.
The Total Return Index gained 0.53% to 17,897.04 points, All Share Index by 0.44% to 3,063.74 points and Al Rayan Islamic Index by 0.78% to 4,359.49 points.
Realty stocks appreciated 2.5%, insurance (0.77%), consumer goods (0.6%), transport (0.31%) and telecom (0.2%); whereas banks and financial services fell 0.17% and industrials (0.13%).
About 59% of the stocks extended gains with major movers being Ezdan, Mazaya Qatar, Barwa, United Development Company, Aamal Company, Qatari Investors Group, Ooredoo, Nakilat, Commercial Bank and Alijarah Holding; even as QNB, Industries Qatar, Qatar Islamic Bank, Gulf International Services and Mesaieed Petrochemical Holding bucked the trend.
Domestic institutions turned net buyers to the tune of QR8.07mn against net sellers of QR17.87mn on October 1.
Non-Qatari individual investors were also net buyers to the extent of QR2.09mn compared with net sellers of QR1.92mn last Thursday.
The Gulf Cooperation Council (GCC) individual investors turned net buyers to the tune of QR1.12mn against net sellers of QR1.23mn the previous day.
However, the Gulf Cooperation Council (GCC) institutions turned net sellers to the tune of QR5.69mn compared with net buyers of QR1.61mn on October 1.
Local retail investors’ net buying considerably weakened to QR1.53mn against QR21.99mn last Thursday.
Non-Qatari institutions’ net profit booking strengthened to QR7.1mn compared to QR2.53mn the previous day.
Total trade volume rose 17% to 6.35mn shares, while value fell 8% to QR193.5mn and deals by 5% to 3,191.
The real estate sector’s trade volume more than tripled to 3.95mn equities and value almost tripled to QR84.73mn on more than doubled transactions to 1,148.
However, the insurance sector saw an 88% plunge in trade volume to 0.01mn stocks, 93% in value to QR0.48mn and 77% in deals to 14.
The consumer goods sector’s trade volume plummeted 64% to 0.49mn shares, value by 31% to QR18.01mn and transactions by 24% to 245.
The market witnessed 51% shrinkage in the industrials sector’s trade volume to 0.47mn equities, 60% in value to QR25.59mn and 37% in deals to 667.
The telecom sector’s trade volume tanked 43% to QR0.24mn stocks, value by 28% to QR9.39mn and transactions by 29% to 287.
There was 18% decline in the transport sector’s trade volume to 0.61mn shares but value rose less than 1% to QR17.7mn. Deals shrank 45% to 256.
The banks and financial services sector reported 12% fall in trade volume to 0.58mn equities and 28% in value to QR37.61mn, while transactions were up 1% to 574.
In the debt market, there was no trading of treasury bills and government bonds.

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