QSE opened flat despite strong buying interests
May 01 2016 07:57 PM

By Santhosh V. Perumal/Business Reporter

Qatar Stock Exchange opened the week largely flat despite stronger buying interests in the real estate and consumer goods.

Domestic institutions turned bullish and there was substantially reduced selling pressure from local retail investors as the 20-stock Qatar Index was up mere 0.02% to 10,187.98 points, which is down 2.31% year-to-date.

Foreign and Gulf institutions’ net selling rather came as a dampener in the bourse, where trading turnover and volumes were on the decline.

The index that tracks Shariah-principled stocks was seen gaining much faster than the other indices in the market, where banking and industrials stocks constituted about 72% of the total trading volume.

Market capitalisation was however down 0.06% or QR31mn to QR549.22bn with large and midcap equities declining 0.4% and 0.16%; whereas micro and small caps gained 0.63% and 0.19% respectively.

The Total Return Index was up 0.02% to 16,483.47 points, All Share Index by 0.04% to 2,842.25 points and Al Rayan Islamic Index by 0.45% to 3,982.86 points.

Real estate equities gained 1.27%, consumer goods (0.46%), transport (0.08%) and industrials (0.01%); whereas telecom fell 0.78%, insurance (0.59%) and banks and financial services (0.37%).

Major gainers included Qatar First Bank, Ezdan, Aamal Company, Nakilat, Gulf Warehousing and Alijarah Holding; while Industries Qatar, Barwa, Commercial Bank, QNB, Masraf Al Rayan, Vodafone Qatar and Ooredoo bucked the trend.

Domestic institutions net buying increased to QR13.45mn compared to QR3.29mn the previous trading day.

Local retail investors’ net profit booking declined substantially to QR5.56mn against QR18.53mn last Thursday.

The GCC (Gulf Cooperation Council) individual investors’ net selling fell to QR1.48mn compared to QR11.27mn on April 28.

Non-Qatari individual investors’ net buying strengthened to QR1.09mn against QR0.56mn the previous trading day.

However, non-Qatari institutions turned net sellers to the extent of QR3.69mn compared with net buyers of QR30.36mn last Thursday.

The GCC institutions were also net profit takers to the tune of QR3.82mn against net sellers of QR4.44mn on April 28.

Total trade volume fell 24% to 7.97mn shares, value by 44% to QR185.32mn and deals by 28% to 3,927.

The market witnessed 63% plunge in the telecom sector’s trade volume to 0.26mn equities, 83% in value to QR5.34mn and 64% in transactions to 265.

The insurance sector’s trade volume plummeted 57% to 0.06mn stocks, value by 57% to QR4.28mn and deals by 45% to 85.

There was 48% shrinkage in the consumer goods sector’s trade volume to 0.44mn shares, 68% in value to QR11.69mn and 21% in transactions to 332.

The real estate sector’s trade volume tanked 32% to 0.93mn equities, value by 49% to Q16.63mn and deals by 29% to 529.

The banks and financial services sector saw 31% decline in trade volume to 3.64mn stocks, 45% in value to QR71.36mn and 36% in transactions to 1,514.

However, the industrials sector’s trade volume soared 27% to 2.09mn shares but value shrank 22% to QR53.39mn. Deals gained 31% to 947.

There was 8% expansion in the transport sector’s trade volume to 0.54mn equities and 16% in value to QR22.64mn but on 22% decline in transactions to 255.

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

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