QSE continue winning streak, lifted by telecom, industrials
November 08 2016 07:42 PM

Qatar Stock Exchange gained for the second day, lifted by telecom, industrials and insurance stocks; but faced resistance to break the 10,000 level.

Foreign institutions continued to be net buyers but with lesser vigour as the 20-stock Qatar Index rose 0.21% for the second straight session to 9,985.26 points. The market’s year-to-date losses are at 4.26%.

Domestic institutions’ net selling weakened perceptibly and Gulf individual investors turned bullish in the bourse, which however saw Islamic stocks decline vis-à-vis gains in the conventional indices.

Trade turnover and volumes declined in the market, where telecom, industrials and banking stocks together constituted about three-fourth of the total volumes.

Large cap equities found favour among investors in the market, which however saw local retail investors and Gulf institutions turn bearish.

Market capitalisation expanded more than QR1bn or 0.23% to QR537.63bn mainly on 0.38% increase in large cap equities; even as mid, micro and small caps shed 0.95%, 0.77% and 0.39% respectively.

The Total Return Index gained 0.21% to 16,155.49 points and All Share Index by 0.08% to 2,752.72 points; while Al Rayan Islamic Index shed 0.19% to 3,666.66 points.

Telecom sector saw its index gain 0.61%, industrials and insurance (0.37% each), and banks and financial services (0.07%); whereas transport shrank 0.39%, realty (0.32%) and consumer goods (0.01%).

Major gainers included Industries Qatar, QNB, Qatar Insurance, Ooredoo, Vodafone Qatar, Commercial Bank, Qatar Islamic Bank, Masraf Al Rayan, Aamal Company and Mazaya Qatar; even as Doha Bank, QIIB, al khaliji, Alijarah Holding, Medicare Group, Qatar National Cement, Qatari Investors Group and Nakilat were among those losers.

Domestic institutions’ net selling declined perceptibly to QR148.68mn compared to QR237.21mn the previous day.

The GCC (Gulf Cooperation Council) individual investors turned net buyers to the tune of QR2.61mn against net sellers of QR0.91mn on Monday.

However, non-Qatari institutions’ net buying weakened considerably to QR153.15mn compared to QR218.43mn on November 7.

The GCC institutions turned net sellers to the extent of QR3.63mn against net buyers of QR13.92mn the previous day.

Local retail investors were net profit takers to the tune of QR6.03mn compared with net buyers of QR4.09mn on Monday.

Non-Qatari individual investors’ net buying weakened to QR0.29mn against QR1.59mn on November 7.

Total trade volume fell 16% to 8.93mn shares, value by 34% to QR318.8mn and deals by 40% to 2,768.

There was 69% plunge in the consumer goods sector’s trade volume to 0.87mn equities, 77% in value to QR38.6mn and 67% in transactions to 257.

The transport sector’s trade volume plummeted 66% to 0.1mn stocks, value by 68% to QR3.05mn and deals by 44% to 106.

The banks and financial services sector saw 41% shrinkage in trade volume to 2.14mn shares, 44% in value to QR104.01mn and 40% in transactions to 798.

The real estate sector’s trade volume was down 7% to 1.16mn equities, value by 6% to QR22.89mn and deals by 19% to 595.

However, the telecom sector’s trade volume more than quadrupled to 2.3mn stocks and value almost doubled to QR26.11mn but transactions tanked 58% to 193.

The insurance sector reported 13% surge in trade volume to 0.09mn shares but on 13% fall in value to QR5.35mn and 52% in deals to 62.

The industrials sector’s trade volume expanded 6% to 2.25mn equities and value by 63% to QR118.79mn; while transactions shrank 24% to 757.

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

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