Qatar shares gain on increased buy support

Qatar Stock Exchange on Thursday witnessed 134 points gains for the second day, mainly led by large cap equities, to inch near the 10,200 mark.
Increased buying interests of foreign institutions and substantially lower net profit booking by their domestic counterparts were instrumental in lifting the 20-stock Qatar Index 1.33% to 10,164.76 points as Brent jumped more than 5% to settle above $40 a barrel.
Consumer goods, real estate and banking stocks witnessed the maximum buying support in the bourse, which is however down 2.54% year-to-date.
However, there was increased net selling by local retail investors and lower buying interests from Gulf institutions as well as non-Qatari individuals in the market, where trading turnover and volumes were on the rise.
The index that tracks Shariah-principled stocks was seen gaining slower than the other indices in the market, where banking, industrials, realty and consumer goods stocks together constituted about 80% of the total trading volume.
Market capitalisation rose 1.24% or about QR7bn to QR543.65bn with large, micro and midcap equities gaining 1.47%, 0.95% and 0.94% respectively; even as small caps fell 0.46%.
The Total Return Index rose 1.33% to 16,380.42 points, All Share Index by 1.13% to 2,827.84 points and Al Rayan Islamic Index by 0.84% to 3,966.25 points.
Consumer goods stocks gained 1.88%, real estate (1.72%), banks and financial services (1.33%), insurance (1.12%), telecom (0.71%) and industrials (0.61%); while transport fell 0.13%.
About 78% of the stocks extended gains with major movers being QNB, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Islamic Bank, QIIB, Alijarah Holding, Ezdan, Mazaya Qatar, United Development Company, Barwa, Vodafone Qatar, Ooredoo, Islamic Holding Group, Salam International Investment and Widam Food.
However, Qatari Investors Group, Gulf Warehousing, Aamal Company and Qatari German Company for Medical Devices were seen bucking the trend.
Non-Qatari institutions’ net buying increased perceptibly to QR30.92mn compared to QR8.35mn on Wednesday.
Domestic institutions’ net selling weakened considerably to QR3.49mn against QR32.65mn the previous day.
However, local retail investors’ net profit booking soared to QR32.67mn compared to QR6.47mn on April 6.
The GCC (Gulf Cooperation Council) institutions’ net buying plummeted to QR3.11mn against QR21.95mn on Wednesday.
Non-Qatari individual investors’ net buying weakened to QR5.01mn compared to QR7.24mn the previous day.
The GCC individual investors turned net profit takers to the tune of QR2.85mn against net buyers of QR1.57mn on April 6.
Total trade volume rose 18% to 9.28mn shares, value by 9% to QR379.4mn and deals by 6% to 5,553.
The real estate sector’s trade volume more than doubled to 1.85mn equities and value also more than doubled to QR44.14mn on 69% jump in transactions to 684.
The banks and financial services sector’s trade volume doubled to 3.06mn stocks, value soared 86% to QR116.13mn and deals by 38% to 1,723.
The telecom sector reported 25% increase in trade volume to 0.71mn shares, 44% in value to QR18.73mn and 19% in transactions to 465.
The insurance sector’s trade volume was up 8% to 0.13mn equities, while value fell 11% to QR6.59mn. Deals surged 47% to 129.
However, there was 34% plunge in the transport sector’s trade volume to 1.04mn stocks, 39% in value to QR56.6mn and 31% in transactions to 675.
The industrials sector’s trade volume plummeted 33% to 1.29mn shares, value by 39% to QR63.9mn and deals by 29% to 975.
The consumer goods sector reported 12% decline in trade volume to 1.21mn equities but on 45% expansion in value to QR73.31mn. Transactions gained 22% to 902.
In the debt market, there was no trading of treasury bills and government bonds.