Qatar share index gains on buy interests

The newly listed Qatar First Bank (QFB), which constituted more than one-third of total trading volume, witnessed decline in an otherwise bullish Qatar Stock Exchange, which gained 27 points on Thursday.
Foreign institutions’ increased buying interests and the bullish outlook of their domestic and Gulf counterparts helped the 20-stock Qatar Index gain 0.26% to 10,186.18 points, which is down 2.33% year-to-date.
Buying interests in the real estate, telecom, insurance and transport counters rather lifted the bourse, 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 banking, industrials and realty stocks constituted more than 79% of the total trading volume.
However, local retail investors turned net profit takers and there was increased net selling by Gulf individual investors in the bourse.
Market capitalisation was up 0.2% or more than QR1bn to QR549.53bn with micro, mid and large cap equities gaining 0.52%, 0.51% and 0.01% respectively; even as small caps fell 0.07%.
The Total Return Index rose 0.26% to 16,480.55 points, All Share Index by 0.22% to 2,841.16 points and Al Rayan Islamic Index by 0.32% to 3,965.13 points.
Real estate equities gained 0.86%, telecom (0.63%), insurance (0.5%), transport (0.49%), industrials (0.29%) and consumer goods (0.22%); while banks and financial services fell 0.25%.
About 55% of the traded stocks extended gains with major movers being Gulf International Services, Barwa, Gulf Warehousing, Qatar Insurance, Mesaieed Petrochemical Holding, QNB, Alijarah Holding, Aamal Company, Barwa, Mazaya Qatar, Vodafone Qatar and Ooredoo; even as Qatar Islamic Bank, Ezdan, Nakilat, QFB, Qatari Investors Group and Ahli Bank bucked the trend.
Non-Qatari institutions’ net buying strengthened to QR30.36mn compared to QR23.77mn on Wednesday.
Domestic institutions turned net buyers to the tune of QR3.29mn against net sellers of QR34.24mn the previous day.
The GCC (Gulf Cooperation Council) institutions were also net buyers to the extent of QR4.44mn compared with net sellers of QR33.22mn on April 27.
However, local retail investors turned net sellers to the tune of QR18.53mn against net buyers of QR23.67mn on Wednesday.
The GCC individual investors’ net profit taking increased to QR11.27mn compared to QR4.43mn the previous day.
Non-Qatari individual investors’ net buying weakened considerably to QR0.56mn against QR24.5mn on April 27.
Total trade volume fell 53% to 10.49mn shares, value by 33% to QR328.6mn and deals by 28% to 5,468.
The banks and financial services sector saw 69% plunge in trade volume to 5.28mn equities, 59% in value to QR129.9mn and 51% in transactions to 2,362.
The real estate sector’s trade volume declined 15% to 1.37mn stocks, while value rose 3% to Q32.93mn and deals by 15% to 749.
There was 5% fall in the industrials sector’s trade volume to 1.64mn shares, 3% in value to QR68.6mn and 23% in transactions to 725.
However, the transport sector’s trade volume soared 35% to 0.5mn equities, value by 46% to QR19.46mn and deals by 38% to 325.
The market witnessed 22% surge in the telecom sector’s trade volume to 0.71mn stocks but on more than doubled value to QR31.64mn. Transactions gained 79% to 730.
The consumer goods sector’s trade volume expanded 21% to 0.85mn shares and value by 7% to QR36.19mn; whereas deals shrank 11% to 422.
Although the insurance sector’s trade volume was flat at 0.14mn equities; there was 1% rise in value to QR9.89mn and more than doubled transactions to 155.
In the debt market, there was no trading of treasury bills and government bonds.