The Qatar Stock Exchange yesterday overcame the initial selling pressure to finally close 26 points higher, mainly on overall buying support from foreign institutions.
Insurance, telecom, realty, transport and banking counters witnessed higher demand, which led the 20-stock Qatar Index gain 0.25% to 10,596.39 points, although global oil prices rose on the US sanctions on Iran’s certain entities and individuals.
Brisk buying was seen among small and large cap equities on the market, whose year-to-date gains were at 1.53%.
Islamic stocks were, however, seen underperforming the main index on the bourse, where local and Gulf retail investors turned bearish and there was lower buying support from Gulf institutions.
Trade turnover shrank amid higher volumes on the bourse, where telecom, real estate and banking sectors together accounted for more than three-fourth of the total volumes.
Market capitalisation was down QR0.11mn or 0.02% to QR567.94bn mainly on 0.68% decline in microcap equities; whereas small, large and midcaps gained 0.5%, 0.36% and 0.19% respectively.
The Total Return Index rose 0.25% to 17,144.25 points and All Share Index rose 0.22% to 2,909.9 points, while Al Rayan Islamic Index fell 0.28% to 3,972.74 points.
The insurance sector saw its index surge 1.33%, telecom (0.9%), realty (0.78%), transport (0.6%) and banks and financial services (0.45%); whereas industrials and consumer goods shrank 1.22% and 0.07% respectively.
Major gainers included Qatar Insurance, Ooredoo, United Development Company, Barwa, Ezdan, Nakilat, Commercial Bank, Doha Bank, Aamal Company and Qatar Electricity and Water; even as Industries Qatar, Gulf International Services, Vodafone Qatar and Mazaya Qatar were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR31.9mn compared with net sellers of QR29.45mn last Thursday.
However, local retail investors turned net sellers to the extent of QR22.19mn against net buyers of QR16.36mn the previous trading day.
Domestic institutions’ net buying weakened considerably to QR0.97mn compared to QR11.31mn on February 2.
Non-Qatari individual investors’ net buying also declined to QR0.79mn against QR1.13mn last Thursday.
The GCC (Gulf Cooperation Council) institutions’ net selling strengthened to QR7.59mn compared to QR1.59mn the previous trading day.
The GCC retail investors turned net profit takers to the tune of QR3.87mn against net buyers of QR2.23mn on February 2.
Total trade volume rose 12% to 6.55mn shares, while value fell 13% to QR167.63mn and deals by 13% to 2,398.
The consumer goods sector’s trade volume more than tripled to 0.59mm equities and value more than doubled to QR29.34mn on 94% increase in transactions to 345.
There was 80% surge in the telecom sector’s trade volume to 2.22mn stocks, 44% in value to QR23.95mn and 13% in deals to 228.
The transport sector’s trade volume soared 56% to 0.56mn shares and value by 42% to QR15.81mn, while transactions fell 20% to 168.
The market witnessed 11% increase in the industrials sector’s trade volume to 0.42mn equities, 25% in value to QR27.36mn and 32% in deals to 567.
However, the banks and financial services sector’s trade volume plunged 47% to 0.81mn stocks, value by 64% to QR28.79mn and transactions by 53% to 543. The real estate sector reported 10% decline in trade volume to 1.9mn shares and 15% in value to QR38.02mn but on 3% jump in deals to 500.
Although the insurance sector’s trade volume was flat at 0.05mn equities, there was 11% expansion in value to QR4.36mn but on 52% shrinkage in transactions to 47.
In the debt market, there was no trading of treasury bills and government bonds.
QSE
