QSE gains marginally on robust buying
June 30 2016 07:15 PM

By Santhosh V. Perumal/Business Reporter

Robust buying support of foreign and Gulf institutions was to a great extent contained by strong selling pressure of domestic institutions and non-Qatari individuals that the Qatar Stock Exchange managed to gain marginally and remain below the 9,900 level.

Buying was seen more pronounced in the consumer goods and telecom counters as the 20-stock Qatar Index rose mere 0.08% to 9,885.22 points amid higher trading turnover and volumes.

Islamic stocks performed better than the conventional ones in the market, which is however down 5.22% year-to-date.

Local and Gulf retail investors’ selling were also seen stronger in the market, where realty, telecom and banking stocks constituted more than 71% of the total trading volume.

Market capitalisation was up 0.1% or QR51mn to QR532.70bn.

The Total Return Index rose 0.08% to 15,993.64 points and All Share Index by 0.04% to 2,749.89 points and Al Rayan Islamic Index by 0.09% to 3,822.31 points.

Consumer goods stocks gained 0.61%, telecom (0.44%), banks and financial services (0.17%), industrials (0.11%) and transport (0.02%); whereas real estate and insurance fell 0.49% and 0.15% respectively.

More than 64% of the stocks extended gains with major movers being Gulf International Services, Barwa, Ooredoo, Vodafone Qatar, Commercial Bank, Qatar Islamic Bank, Islamic Holding Group, Meera, Qatar Electricity and Water and Medicare Group; even as Ezdan, Nakilat, Qatar Insurance and Mannai Corporation bucked the trend.

Non-Qatari institutions’ net buying strengthened considerably to QR33.77mn compared to QR8.17mn the previous day.

The GCC (Gulf Cooperation Council) institutions turned net buyers to the tune of QR9.01mn against net sellers of QR1.13mn on June 29.

However, domestic institutions turned net sellers to the extent of QR22.23mn compared with net buyers of QR1.26mn on Wednesday.

Non-Qatari individual investors were also net sellers to the tune of QR4.32mn against net buyers of QR3.33mn the previous day.

Local retail investors’ net profit booking increased to QR14.14mn compared to QR10.36mn on June 29.

The GCC retail investors’ net profit booking increased to QR2.12mn against QR1.28mn on Wednesday.

Total trade volume rose 44% to 4.12mn shares, value by 57% to QR149.5mn and deals by 45% to 2,545.

The telecom sector’s trade volume more than doubled to 1mn equities and value soared 88% to QR15.34mn on more than doubled transactions to 376.

The real estate sector’s trade volume doubled to 0.1mn stocks and value more than doubled to QR21.3mn on 67% jump in deals to 442.

The transport sector saw 82% surge in trade volume to 0.31mn shares, 45% in value to QR10.06mn and 51% in transactions to 189.

The consumer goods sector’s trade volume expanded 13% to 0.18mn equities, value by 49% to QR12.77mn and deals by 14% to 192.

There was 8% fall in the industrials sector’s trade volume to 0.57mn stocks but on 42% expansion in value to QR34.58mn and 23% in transactions to 522.

However, the banks and financial services sector’s trade volume was up 2% to 0.94mn shares, value by 63% to QR47.51mn and deals by 38% to 736.

Although the insurance sector’s trade volume was flat at 0.11mn shares, value rose less than 1% to QR7.94mn and transactions by 24% to 88.

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


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