Qatar bourse reverses three days of bearish spell
November 07 2016 07:30 PM

Qatar Stock Exchange reversed three days of bearish spell and its key index gained 15 points to inch near the 10,000 mark.

The buying interests, particularly in the industrials sector, rather drove the 20-stock Qatar Index up 0.15% to 9,964.02 points. The market’s year-to-date losses are at 4.46%.

Foreign institutions’ substantial buying support was to a large extent contained by selling pressure from domestic institutions in the bourse, which saw Islamic stocks gain faster than the conventional ones.

Trade turnover and volumes considerably increased in the market, where banks, consumer goods and industrials stocks together constituted more than 80% of the total volumes.

Gulf institutions turned bullish and there was increased buying support from local retail investors in the bourse, where Gulf individual investors’ net profit booking weakened.

A 0.22% jump in small cap equities and 0.18% each in large and microcaps helped market capitalisation enhance QR47mn or 0.09% to QR536.37bn.

The Total Return Index gained 0.15% to 16,121.13 points, All Share Index by 0.09% to 2,750.5 points and Al Rayan Islamic Index by 0.22% to 3,673.75 points.

Industrials sector saw its index vault about 1% and banks and financial services by a marginal 0.06%; whereas consumer goods fell 0.6%, insurance (0.43%), telecom (0.42%), transport (0.18%) and realty (0.16%).

Major gainers included Gulf International Services, QIIB, Masraf Al Rayan, al khaliji, Dlala, Industries Qatar, Medicare Group, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Nakilat and Qatar National Cement.

Nevertheless, Qatar Insurance, Barwa, Ezdan, Ooredoo, Vodafone Qatar, Milaha, Woqod and Commercial Bank saw their equities lose sheen.

Non-Qatari institutions’ net buying strengthened considerably to QR218.43mn compared to QR9.85mn on November 6.

The GCC (Gulf Cooperation Council) institutions turned net buyers to the tune of QR13.92mn against net sellers of QR20.69mn on Sunday.

Local retail investors’ net buying increased to QR4.09mn compared to QR0.19mn the previous day.

The GCC individual investors’ net profit booking weakened perceptibly to QR0.91mn against QR10.43mn on November 6.

However, domestic institutions turned net sellers to the extent of QR237.21mn compared with net buyers of QR14.59mn on Sunday.

Non-Qatari individual investors’ net buying weakened to QR1.59mn against QR6.49mn the previous day.

Total trade volume rose 47% to 10.67mn shares to more than double the value to QR481.55mn on 47% jump in deals to 4,616.

The consumer goods sector’s trade volume grew about eight-fold to 2.8mn equities and value by more than eight-fold to QR166.99mn on more than doubled transactions to 779.

The insurance sector’s trade volume quadrupled to 0.08mn stocks and value rose about six-fold to QR6.13mn on almost tripled deals to 129.

The banks and financial services sector’s trade volume more than doubled to 3.64mn shares and value more than tripled to QR186.18mn on 45% increase in transactions to 1,331.

The industrials sector’s trade volume more than doubled to 2.13mn equities, value soared 30% to QR73.05mn and deals by 49% to 997.

The transport sector reported 12% surge in trade volume to 0.29mn stocks and 5% in value to QR9.64mn but on 14% fall in transactions to 189.

However, the telecom sector’s trade volume plummeted 80% to 0.48mn shares and value by 56% to QR13.34mn; whereas deals expanded 63% to 457.

There was 36% plunge in the real estate sector’s trade volume to 1.25mn equities and 42% in value to QR24.23mn but on 12% gain in transactions to 734.

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

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