QSE opens the week strong, inches near 10,200

Qatar Stock Exchange on Sunday opened the week strong with its key index gaining 134 points to inch near the 10,200 mark mainly on Gulf institutions’ net buying and lower net selling pressure from their domestic counterparts.

An across the board buying – particularly in insurance, industrials and realty – led the 20-stock Qatar Index gain 1.33% to 10,187.9 points.

Small, micro and midcap equities saw higher demand from investors in the bourse, whose year-to-date losses narrowed to 2.32%.

Trade turnover and volumes were on the decline in the market, where real estate, banking and telecom sectors together accounted for about 77% of the total volume.

There was also buying support from foreign institutions and Gulf individuals in the bourse, where local and non-Qatari retail investors however turned net profit takers.

Market capitalisation gained about QR8bn or 1.42% to QR547.81bn as small, micro, mid and large cap equities added 2.15%, 1.78%, 1.62% and 1.13% respectively.

The Total Return Index rose 1.33% to 16,483.34 points, All Share Index by 1.46% to 2,804.05 points and Al Rayan Islamic Index by 1.35% to 3,784.07 points.

Insurance sector saw its index expand 2.44%, industrials (1.96%), realty (1.61%), banks and financial services (1.19%), telecom (1.05%), consumer goods (0.92%) and transport (0.9%).

More than 86% of the traded stocks extended gains with major movers being Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Electricity and Water, Qatar Insurance, Mazaya Qatar, Barwa, Ezdan, Ooredoo, Qatar Islamic Bank, Nakilat, Alijarah Holding, Dlala and Islamic Holding Group; even as Mannai Corporation and United Development Company saw their stocks lose sheen.

The GCC (Gulf Cooperation Council) institutions turned net buyers to the tune of QR31.34mn against net sellers of QR0.27mn last Thursday.

Domestic institutions’ net profit booking weakened substantially to QR24.88mn compared to QR44.56mn on December 8.

Non-Qatari institutions’ net buying strengthened to QR28.56mn against QR26.1mn the previous trading day.

The GCC individual investors’ net buying also increased marginally to QR0.3mn compared to QR0.19mn last Thursday.

However, local retail investors turned net sellers to the tune of QR35.12mn against net buyers of QR16.59mn on December 8.

Non-Qatari individual investors were also net sellers to the extent of QR0.23mn compared with net buyers of QR1.93mn the previous trading day.

Total trade volume fell 9% to 10.08mn shares and value by 12% to QR334.43mn, while deals rose 18% to 4,572.

There was a 90% plunge in the insurance sector’s trade volume to 0.24mn equities, 84% in value to QR18.77mn and 3% in transactions to 114.

The transport sector’s trade volume plummeted 28% to 0.31mn stocks, value by 37% to QR10.68mn and deals by 26% to 215.

The market witnessed 14% decline in the telecom sector’s trade volume to 1.68mn shares but on 23% increase in value to QR48.66mn. Transactions were down 3% to 469.

The consumer goods sector’s trade volume was down 5% to 0.4mn equities, while value gained 8% to QR20.74mn and deals by 64% to 440.

However, the industrials sector’s trade volume more than doubled to 1.39mn stocks, value soared 58% to QR54.63mn and transactions by 45% to 993.

The real estate sector reported 22% surge in trade volume to 3.22mn shares, 48% in value to QR61.84mn and 13% in deals to 751.

The banks and financial services sector’s trade volume was up 2% to 2.84mn equities, value by 9% to QR119.11mn and transactions by 17% to 1,590.

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