QSE crosses 10,000 mark, mainly on strong buying interests
May 17 2016 07:40 PM

By Santhosh V. Perumal /Business Reporter

Reflecting the strong gains in the global oil prices, which hit a six-and-a-half month high; Qatar Stock Exchange surpassed the 10,000 mark, mainly on strong buying interests from domestic and foreign institutions.

Stronger buying – especially at the insurance, industrials, consumer goods and banking counters – helped the 20-stock Qatar Index gain 0.14% to 10,010.67 points on increasing trading turnover and volumes.

Robust demand for small and microcap equities was witnessed in the market, which is however down 4.01% year-to-date.

Strong buying interests of Gulf individual investors also helped the bourse, where industrials, banking and telecom stocks together constituted about 84% of the total trading volume.

Market capitalisation grew 0.24% or more than QR1bn to QR537.56bn with small, micro and large cap equities gaining 1.16%, 0.48% and 0.32% respectively; but midcaps were down 0.2%.

The Total Return Index rose 0.14% to 16,196.6 points, All Share Index by 0.27% to 2,793.11 points and Al Rayan Islamic Index by 0.22% to 3,918.66 points.

Insurance stocks surged 1.37%, industrials (0.54%), consumer goods (0.4%), banks and financial services (0.37%), realty (0.12%) and transport (0.07%); whereas telecom shrank 2.39%.

More than 51% of the stocks extended gains with major movers being Industries Qatar, Gulf International Services, Commercial Bank, al khaliji, Islamic Holding Group, Mesaieed Petrochemical Holding, Barwa, Gulf Warehousing and Medicare Group; even as Vodafone Qatar, Ooredoo, Aamal Company and Qatari Investors Group bucked the trend.

Non-Qatari institutions’ net buying increased to QR12.79mn against QR3.94mn the previous day.

Domestic institutions’ net buying also strengthened to QR16.66mn compared to QR4.04mn on Monday.

The GCC (Gulf Cooperation Council) individual investors turned net buyers to the tune of QR9.03mn against net sellers of QR1.4mn on May 16.

However, local retail investors’ net profit booking increased to QR23.67mn compared to QR12.44mn the previous day.

The GCC institutions turned net sellers to the extent of QR7.73mn against net buyers of QR4.78mn on Monday.

Non-Qatari individual investors were also net sellers to the tune of QR7.08mn compared with net buyers of QR1.06mn on May 16.

Total trade volume rose 33% to 9.96mn shares, value by 32% to QR324.71mn and deals by 17% to 5,548.

The telecom sector’s trade volume more than doubled to 1.77mn equities, value soared 51% to QR31.22mn and transactions by 50% to 1,105.

There was 98% surge in the industrials sector’s trade volume to 3.66mn stocks, 96% in value to QR144.14mn and 44% in deals to 1,840.

The transport sector’s trade volume increased 10% to 0.34mn shares and value by 72% to QR16.34mn, while transactions were down 5% to 178.

The consumer goods sector reported 2% jump in trade volume to 0.91mn equities, 40% in value to QR46.09mn and 12% in deals to 657.

The banks and financial services sector’s trade volume was up 1% to 2.9mn stocks but value shrank 8% to QR75.32mn. Transactions gained 10% to 1,255.

However, the market witnessed 77% plunge in the insurance sector’s trade volume to 0.05mn shares, 80% in value to QR3.57mn and 67% in deals to 77.

The real estate sector’s trade volume plummeted 40% to 0.33mn equities, value by 27% to QR8.03mn and transactions by 27% to 436.

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

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