By Santhosh V. Perumal/Business Reporter
Domestic and foreign institutions’ buying support extended the bullish run in the Qatar Stock Exchange for the second consecutive day and its key index gained 42 points to cross the 10,200 mark.
Although decliners outnumbered the movers, the 20-stock Qatar Index added another 0.42% to 10,217.19 points.
Buying interests in the real estate and banking counters helped sustain the positive momentum in the market, which is, however, down 16.84% year-to-date.
Large cap equities were high in demand in the bourse, where overall volumes more than halved.
Local individual investors turned bearish and there was weakened net buying among Gulf retail and institutions as well as non-Qatari retail investors in the market, where the banking, telecom and realty sectors dominated the trading ring as their stocks accounted for more than 66% of the volumes.
Market capitalisation rose 0.29% or more than QR1bn to QR539.74bn mainly on 0.6% jump in large cap equities; even as small, micro and mid cap equities fell 1.5%, 1.15% and 0.29% respectively.
The Total Return Index gained 0.42% to 15,881.15 points, All Share Index by 0.23% to 2,722.07 points and Al Rayan Islamic Index by 0.11% to 3,794.74 points.
Real estate stocks rose 1.25% and banks and financial services (0.65%); whereas insurance fell 0.78%, industrials (0.65%), telecom (0.58%), consumer goods (0.14%) and transport (0.12%).
Major gainers included QNB, Masraf Al Rayan and Ezdan; while Doha Bank, Commercial Bank, al khaliji, Alijarah Holding, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Mazaya Qatar, Barwa, Vodafone Qatar, Ooredoo and Qatari German Company for Medical Devices bucked the trend.
Domestic institutions turned net buyers to the extent of QR1.77mn against net sellers of QR14.2mn on December 22.
Non-Qatari institutions were also net buyers to the tune of QR5.47mn against net profit takers of QR27.25mn on Tuesday.
However, local retail investors turned net sellers to the extent of QR13.49mn compared with net buyers of QR9.35mn the previous day.
The GCC (Gulf Cooperation Council) individual investors’ net buying weakened to QR2.19mn against QR6.41mn on December 22.
Non-Qatari individual investors’ net buying also declined to QR3.05mn compared to QR9.73mn on Tuesday.
The GCC institutions’ net buying fell substantially to QR1mn against QR15.96mn the previous day.
Total trade volume fell 52% to 5.39mn shares, value by 49% to QR175.48mn and deals by 36% to 3,334.
There was 81% plunge in the insurance sector’s trade volume to 0.03mn equities, 87% in value to QR1.55mn and 49% in transactions to 36.
The consumer goods sector’s trade volume plummeted 64% to 0.56mn stocks, value by 68% to QR10.39mn and deals by 61% to 271.
The real estate sector saw 63% shrinkage in trade volume to 1.12mn shares, 60% in value to QR23.53mn and 45% in transactions to 537.
The telecom sector’s trade volume tanked 46% to 1.12mn equities, value by 42% to QR18mn and deals by 15% to 604.
The market witnessed 46% decline in the transport sector’s trade volume to 0.28mn stocks, 46% in value to QR8.27mn and 60% in transactions to 102.
The industrials sector’s trade volume shrank 41% to 0.95mn shares, value by 40% to QR49.73mn and deals by 32% to 761.
The banks and financial services sector reported 41% fall in trade volume to 1.34mn equities, 44% in value to QR64.01mn and 25% in transactions to 1,023.
In the debt market, there was no trading of treasury bills and government bonds.