By Santhosh V. Perumal/Business Reporter
Qatar Stock Exchange on Sunday opened the week on a stronger note and its key index inched near the 10,500 level, mainly lifted by domestic institutions.
Industrials, banking and insurance counters witnessed higher than average buying interests, which led the 20-stock Qatar Index gain 0.2% to 10,499.96 points amid shrinkage in overall volumes.
However, strong profit booking was seen, especially in the transport and telecom counters in the market, which is down 14.54% year-to-date.
Foreign institutions and Qatari retail investors were increasingly net profit takers in the bourse, where the banking, industrials and realty sector dominated the trading ring as their stocks accounted for more than 69% of volumes.
The index that tracks Shariah-principled stocks was seen gaining slower than the other indices in the market.
Market capitalisation rose 0.27% or more than QR1bn to QR552.11bn with large and micro cap equities gaining 0.55% each; while mid and small caps lost 0.27% and 0.05% respectively.
The Total Return Index was up 0.2% to 16,320.67 points, All Share Index by 0.2% to 2,795.53 points and Al Rayan Islamic Index by 0.09% to 3,898.81 points.
Industrials stocks gained 0.75%, banks and financial services (0.45%), insurance (0.45%) and consumer goods (0.06%); whereas transport fell 1.06%, telecom (1%) and real estate (0.32%).
Major gainers included QNB, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Barwa, Commercial Bank and Qatar Islamic Insurance; even as Nakilat, Vodafone Qatar, Ooredoo, United Development Bank, Mazaya Qatar, Ezdan and Qatar Islamic Bank bucked the trend.
Domestic institutions’ net buying strengthened to QR50.25mn compared to QR41.02mn the previous trading day.
The GCC (Gulf Cooperation Council) individual investors’ net selling weakened to QR0.97mn against QR1.3mn on December 3.
However, non-Qatari institutions’ net profit booking increased to QR37.15mn compared to QR33.62mn last Thursday.
The GCC institutions’ net selling increased to QR8.41mn against QR3.73mn the previous trading day.
Local retail investors’ net profit booking rose to QR3.27mn compared to QR3.01mn on December 3.
Non-Qatari individual investors turned net sellers to the tune of QR0.45mn against net buyers of QR0.66mn last Thursday.
Total trade volume fell 16% to 4.21mn shares, value by 16% to QR179.73mn and deals by 16% to 2,609.
The insurance sector saw 71% plunge in trade volume to 0.02mn equities, 94% in value to QR0.23mn and 83% in transactions to 10.
The banks and financial services sector’s trade volume plummeted 39% to 1.05mn stocks, value by 36% to QR52.38mn and deals by 43% to 511.
There was 31% shrinkage in the real estate sector’s trade volume to 0.81mn shares, 24% in value to QR20mn and 23% in transactions to 303.
However, the consumer goods sector’s trade volume surged 50% to 0.12mn equities and value more than doubled to QR9.14mn on 38% jump in deals to 172.
The market witnessed 36% increase in telecom sector’s trade volume to 0.64mn stocks and 22% in value to QR19.17mn but on 10% fall in transactions to 598.
The transport sector’s trade volume expanded 8% to 0.54mn shares, value by 8% to QR13.63mn and deals by 8% to 184.
The industrials sector saw 4% rise in trade volume to 1.05mn equities but on 5% decline in value to QR65.19mn. Transactions were up 5% to 831.
In the debt market, there was no trading of treasury bills and government bonds.
