QSE rises further on robust buy support

Robust buying support from local retail investors and foreign institutions on Wednesday extended the bullish run in the Qatar Stock Exchange for the third consecutive day and its key index inched near the 10,400 mark.
Mainly led by real estate and consumer goods, the 20-stock Qatar Index gained 0.68% to 10,366.93 points even as crude futures eased on fears of excess supply looming large over the global energy markets.
Small and microcap equities witnessed higher demand in the market, which is however down 0.6% year-to-date.
The index that tracks Shariah-principled stocks was seen gaining much faster than the other indices in the bourse, where trading turnover rose amidst declines in volumes.
However, non-Qatari individual investors turned bearish and there was substantially weakened net buying support from Gulf institutions in the market, where banking, realty, industrials and consumer goods stocks together constituted about 81% of the total trading volume.
Market capitalisation expanded 0.61% or more than QR3bn to QR552.74bn with micro and small cap equities gaining 0.75% each, midcaps (0.44%) and large caps (0.32%).
The Total Return Index rose 0.68% to 16,773.01 points, All Share Index by 0.71% to 2,892.12 points and Al Rayan Islamic Index by 1.21% to 4,116.87 points.
Real estate stocks shot up 1.89%, consumer goods (1.84%), telecom (0.62%), industrials (0.55%), banks and financial services (0.42%) and transport (0.22%); even as insurance fell 0.68%.
More than 64% of the stocks extended gains with major movers being Ezdan, Industries Qatar, Vodafone Qatar, Ooredoo, Aamal Company, Gulf Warehousing, Alijarah Holding, Dlala, Qatari Investors Group, Dlala, Al Khaleej Takaful, Doha Bank, Commercial bank and Medicare Group.
However, Mazaya Qatar, Gulf International Services, Qatar Insurance, Qatar National Cement, Islamic Holding Group and Milaha bucked the trend.
Local retail investors turned net buyers to the tune of QR21.52mn compared with net sellers of QR10.81mn on April 19.
Non-Qatari institutions’ net buying increased considerably to QR23.58mn against QR5mn the previous day.
However, non-Qatari individual investors turned net sellers to the extent of QR16.11mn compared with net buyers of QR15.24mn on Tuesday.
The GCC (Gulf Cooperation Council) institutions’ net buying weakened perceptibly to QR4.35mn against QR19.96mn on April 19.
Domestic institutions’ net profit booking rose to QR27.82mn compared to QR27.58mn the previous day.
The GCC individual investors’ net selling increased to QR5.51mn against QR1.71mn on Tuesday.
Total trade volume was down 2% to 15.14mn shares, while value rose 11% to QR529.93mn. Deals fell 1% to 6,841.
The real estate sector saw 40% plunge in trade volume to 3.57mn equities, 34% in value to Q70.93mn and 32% in transactions to 1,105.
The transport sector’s trade volume plummeted 25% to 0.94mn stocks, value by 33% to QR51.31mn deals by 31% to 543.
There was 16% shrinkage in the telecom sector’s trade volume to 0.96mn shares, 20% in value to QR21.17mn and 16% in transactions to 623.
The industrials sector’s trade volume was down 5% to 2.06mn equities, value by 21% to QR69.45mn and deals by 10% to 1,102.
However, the insurance sector’s trade volume grew more than six-fold to 0.13mn stocks and value by about eight-fold to QR10.39mn on almost tripled transactions to 119.
The banks and financial services sector reported 67% surge in trade volume to 5.44mn shares, 87% in value to QR166.86mn and 22% in deals to 1,934.
The consumer goods sector’s trade volume shot up 22% to 2.03mn equities, value by 62% to QR139.81mn and transactions by 50% to 1,415.
In the debt market, there was no trading of treasury bills and government bonds.