Domestic buying lifts QSE above 9,900
June 21 2016 06:38 PM

By Santhosh V. Perumal/Business Reporter

Domestic institutions’ buying support lifted the Qatar Stock Exchange to more than 9,900 levels; even as global oil markets treaded a cautious path, awaiting data on the US inventory and outcome of Brexit.

Stronger buying, especially in the realty segment, was instrumental in the 20-stock Qatar Index’s gain of about 1% to 9,919.32 points on higher trade turnover and volumes.

A marginally higher buying support from Gulf institutions as well as bullish outlook of Gulf and non-Qatari individual investors also helped the bourse, which is however down 4.89% year-to-date.

However, foreign institutions turned net sellers in the market, where banking, industrials and real estate stocks together constituted more than 77% of the total trading volume.

Market capitalisation soared 0.72% or about QR4bn to QR535.75bn as micro, large, small and midcap equities gained 1.83%, 0.79%, 0.59% and 0.22% respectively.

The Total Return Index gained 0.96% to 16,048.8 points, All Share Index by 0.84% to 2,763.77 points and Al Rayan Islamic Index by 1.08% to 3,856.84 points.

Realty stocks appreciated 1.89%, insurance (0.87%), industrials (0.7%), consumer goods and transport (0.67% each), and banks and financial services (0.61%); whereas telecom fell 0.26%.

More than 90% of the stocks extended gains with major movers being Mazaya Qatar, Ezdan, Barwa, Industries Qatar, Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding, QNB, Commercial Bank, Masraf Al Rayan, Alijarah Holding, Islamic Holding Group, Salam International and Widam Food; while Ooredoo, Doha Bank and Ahli Bank were seen bucking the trend.

Domestic institutions’ net buying increased perceptibly to QR9.35mn compared to QR1.23mn the previous day.

The GCC (Gulf Cooperation Council) individual investors turned net buyers to the tune of QR0.42mn against net sellers of QR2.52mn on Monday.

The GCC institutions’ net buying rose marginally to QR4.95mn compared to QR4.73mn on June 20.

Non-Qatari individual investors turned net buyers to the extent of QR0.93mn against net sellers of QR0.5mn the previous day.

However, non-Qatari institutions turned net sellers to the tune of QR5.03mn compared with net buyers of QR6.6mn on Monday.

Local retail investors’ net profit booking strengthened to QR10.63mn against QR9.53mn on June 20.

Total trade volume rose 60% to 4.63mn shares, value by 46% to QR174.77mn and deals by 15% to 2,354.

The transport sector’s trade volume grew more than 10-fold to 0.31mn equities and value by about 15-fold to QR16.28mn on more than quadrupled transactions to 141.

The insurance sector’s trade volume tripled to 0.06mn stocks and value more than tripled to QR4.19mn on more than doubled deals to 78.

The consumer goods sector’s trade volume more than doubled to 0.29mn shares and value also more than doubled to QR17.5mn on 25% jump in transactions to 287.

The real estate sector’s trade volume almost doubled to 0.96mn equities and value more than doubled to QR22.18mn on 58% increase in deals to 476.

The market witnessed 54% surge in the telecom sector’s trade volume to 0.4mn stocks but on 34% decline in value to QR6.48mn and 36% in transactions to 195.

The industrials sector’s trade volume soared 38% to 1.24mn shares, value by 26% to QR49.61mn and deals by 4% to 518.

The banks and financial services sector reported 29% increase in trade volume to 1.37mn equities, 17% in value to QR58.53mn and less than 1% in transactions to 659.

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

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