QSE rebounds on oil price rise, inches near 8,900
January 24 2016 08:59 PM
Group Securities accounted for 1.29mn QSE transactions YTD July 2014. PICTURE: Noushad Thekkayil

By Santhosh V. Perumal/Business Reporter

Sharp oil price rise on Friday appears to have profound effect on the Qatar Stock Exchange, which opened the week with robust 477 points gain to inch near the 8,900 mark.

An across the board buying – particularly in the real estate, consumer goods, insurance and industrials counters – led the 20-stock Qatar Index surge 4.63% to 8,981.61 points.

Local, Gulf and foreign retail investors’ buying interests lifted the market, where trading turnover and volumes were on the rise.

Gulf institutions’ bullish outlook and their foreign counterparts’ lower selling pressure also helped the bourse, which is however down 13.88% year-to-date.

The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the market, where the realty, banking, industrials and telecom sectors together accounted for more than 84% of the total trading volume.

Market capitalisation soared 4.15 or more than QR19bn to QR477.

The Total Return Index shot up 4.63% to 13,960.62 points, All Share Index by 4.43% to 2,388.61 points and Al Rayan Islamic Index by 5.61% to 3,209.51 points.

Real estate stocks gained the maximum of 6.08%, industrials (5.49%), insurance (5.17%), industrials (4.83%), transport (4.11%), banks and financial services (3.55%) and telecom (2.85%).

About 93% of the stocks extended gains with major movers being Industries Qatar, QNB, Barwa, Mazaya Qatar, Ezdan, Gulf International Services, Aamal Company, Qatari Investors Group, Doha Bank, Qatar Islamic Bank, Masraf Al Rayan, Ooredoo, Vodafone Qatar and Nakilat; even as Mannai Corporation and Widam Food bucked the trend.

Local retail investors turned net buyers to the tune of QR16.81mn against net sellers of QR12.25mn last Thursday.

Non-Qatari individual investors’ net buying soared to QR5.96mn compared to QR1.42mn the previous trading day.

The GCC (Gulf Cooperation Council) individuals turned net buyers to the extent of QR1.44mn against net sellers of QR2.71mn on January 21.

The GCC institutions were also net buyers to the tune of QR10.29mn compared with net sellers of QR12.89mn last Thursday.

Non-Qatari institutions’ net profit booking weakened to QR0.44mn against QR17.11mn the previous trading day.

However, domestic institutions turned net sellers to the extent of QR34.12mn compared with net buyers of QR43.51mn on January 21.

Total trade volume rose 92% to 10.29mn shares, value by 51% to QR277.41mn and deals by 44% to 4,986.

The consumer goods sector’s trade volume almost tripled to 1.14mn equities and value more than doubled to QR29.16mn on more than doubled transactions to 653.

The banks and financial services sector reported more than doubling of trade volume to 2.43mn stocks, 50% surge in value to QR84.26mn and 85% in deals to 1,298.

The telecom sector’s trade volume more than doubled to 1.41mn shares, value gained 43% to QR26.21mn and transactions by 20% to 756.

The market witnessed 67% surge in the real estate sector’s trade volume to 3.1mn equities, 52% in value to QR50.7mn and 29% in deals to 946.

The industrials sector’s trade volume expanded 62% to 1.73mn stocks, value by 53% to QR75.62mn and transactions by 51% to 1,087.

The transport sector saw 29% increase in trade volume to 0.44mn shares but on 14% fall in value to QR9.61mn and 46% in deals to 177.

However, the insurance sector’s trade volume plunged 57% to 0.03mn equities and value by 63% to QR1.84mn; while transactions grew 50% to 69.

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

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