Local retail investors lift QSE to surpass 10,000 mark
March 02 2016 05:45 PM
With a capitalisation of $193bn, the QSE is the second largest bourse in the GCC after Saudi Arabia’
With a capitalisation of $193bn, the QSE is the second largest bourse in the GCC after Saudi Arabia’

By Santhosh V. Perumal/Business Reporter

Qatar Stock Exchange surpassed the 10,000 mark mainly lifted by local retail investors.

Stronger buying in the banks, real estate and consumer goods led the 20-stock Qatar Index gain 0.45% or 45 points to 10,014.43 points, notwithstanding strong selling in telecom and insurance counters.

However, domestic institutions as well as Gulf and non-Qatari individuals turned bearish in the bourse, which is down 3.98% year-to-date.

Gulf and foreign institutions’ buying support weakened in the market, where trading turnover and volumes were on the decline.

The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the market, where realty, banking and telecom stocks together accounted for about 70% of the total trading volume.

Market capitalisation was up 0.19% or about QR1bn to QR531.5bn with micro, large and small cap equities gaining  0.77%, 0.48% and 0.28% respectively; even as mid caps fell 0.79%.

The Total Return Index gained 0.45% to 15,863.29 points, All Share Index by 0.15% to 2,713.7 points and Al Rayan Islamic Index by 0.9% to 3,711.55 points.

Banks and financial services stocks soared 1.04%, real estate (0.69%), consumer goods (0.57%) and industrials (0.44%); while telecom plunged 4.31%, insurance (4.26%) and transport (0.13%).

More than 64% of the stocks extended gains with major movers being QNB, Aamal Company, Mazaya Qatar, Vodafone Qatar, Ezdan, Barwa, Commercial Bank, Qatar Islamic Bank, Masraf Al Rayan, Dlala, Qatari German Company for Medical Devices, Qatar Electricity and Water and Nakilat; even as Ooredoo, Qatar Insurance, Industries Qatar, Doha Bank and United Development Company bucked the trend.

Local retail investors turned net buyers to the tune of QR8.05mn against net sellers of QR82.7mn on Tuesday.

However, domestic institutions turned net sellers to the extent of QR32.97mn compared with net buyers of QR24.98mn on March 1.

The GCC (Gulf Cooperation Council) were also net sellers to the tune of QR6.6mn against net buyers of QR0.36mn the previous day.

Non-Qatari individual investors turned net profit takers to the extent of QR2.31mn compared with net buyers of QR2.29mn on Tuesday.

The GCC institutions’ net buying weakened considerably to QR12.75mn against QR28.56mn on March 1.

Non-Qatari institutions’ net buying also fell to QR21.08mn compared to QR26.68mn the previous day.

Total trade volume fell 4% to 12.75mn shares and value by 32% to QR412.6mn, while deals rose 9% to 5,681.

The industrials sector saw 62% plunge in trade volume to 1.03mn equities, 72% in value to QR34.31mn and 50% in transactions to 637.

The banks and financial services sector’s trade volume plummeted 49% to 3.14mn stocks and value by 53% to QR148.61mn but deals were up 5% to 1,779.

However, the transport sector’s trade volume more than doubled to 1.39mn shares, value soared 88% to QR38.26mn and transactions by 6% to 283.

The telecom sector’s trade volume more than doubled to 2.24mn equities, value gained 3% to QR40.53mn and deals by 88% to 1,112.

The market witnessed 92% surge in the real estate sector’s trade volume to 3.49mn stocks, 36% in value to QR69.83mn and 69% in transactions to 909.

The insurance sector’s trade volume expanded 78% to 0.32mn shares, more than doubling value to QR23.05mn. Deals gained 32% to 157.

There was 39% increase in the consumer goods sector’s trade volume to 1.15mn equities, 14% in value to QR58.03mn and 13% in transactions to 804.

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


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