Banks help QSE snap 4-day loosing streak to near 10,500 mark
March 09 2017 08:18 PM

Snapping four days of bearish run, the Qatar Stock Exchange gained 106 points to take its key barometer near the 10,500 mark, mainly supported by robust buying in banking stocks.
Domestic and Gulf institutions’ substantially weakened net selling and stronger buying support from non-Qatari individual investors helped the 20-stock Qatar Index settle at 10,467.23 points, which is 1.02% higher than the 10-week low recorded the previous day.
However, local and Gulf individual investors turned bearish and lower buying interests were also seen among foreign institutions in the market, which again reported a marginal 0.29% year-to-date gains.
Islamic stocks were seen under-performing the main index as well as other indices in the market, where large cap equities witnessed higher demand.
Trade turnover and volumes were on the decline in the market, where banking, telecom and real estate sectors together accounted for about 80% of the total volumes.
Market capitalisation expanded about QR6bn, or 1.06%, to QR563.52bn as large, mid and small cap scrips gained 1.3%, 0.14% and 0.02% respectively; whereas microcaps sunk 1.37%.
The Total Return Index gained 1.02% to 17,244.26 points, the All Share Index by 1.03% to 2,932.36 points and the Al Rayan Islamic Index by 0.67% to 4,087.81 points.
The banks and financial services sector saw its index soar 1.83%, followed by realty (0.92%), telecom (0.77%), insurance (0.61%), industrials (0.44%) and consumer goods (0.18%); while transport declined 0.42%.
More than 64% of the stocks extended gains with major movers being QNB, Qatar Islamic Bank, Doha Bank, Masraf Al Rayan, Industries Qatar, Ooredoo, Qatar Electricity and Water, Aamal Company, Mesaieed Petrochemical Holding, Qatar Insurance, Mazaya Qatar, Ezdan, Barwa, Gulf Warehousing, Dlala and Medicare Group
Nevertheless, Commercial Bank, Qatari Investors Group, Salam International Investment, Vodafone Qatar, Nakilat, Qatar National Cement and Qatar Industrial Manufacturing were among the losers.
Domestic institutions’ net profit-booking weakened substantially to QR1.38mn compared to QR36.22mn on March 8.
The GCC (Gulf Cooperation Council) institutions’ net selling fell considerably to QR9.27mn against QR34.25mn on Wednesday.
Non-Qatari individual investors’ net buying strengthened perceptibly to QR10.15mn compared to QR2.44mn the previous day.
However, local retail investors turned net sellers to the tune of QR18.61mn against net buyers of QR0.73mn on March 8.
The GCC retail investors were also net sellers to the extent of QR7.59mn against net buyers of QR1.45mn on Wednesday.
Non-Qatari institutions’ net buying weakened significantly to QR26.71mn compared to QR65.86mn the previous day.
Total trade volume fell 29% to 9.97mn shares, value by 35% to QR337.21mn and deals by 13% to 4,781.
There was a 70% plunge in the insurance sector’s trade volume to 0.07mn equities and 56% in value to QR4.36mn but on a 31% jump in transactions to 109.
The banks and financial services sector’s trade volume plummeted 48% to 3.41mn stocks, value by 47% to QR142.11mn and deals by 33% to 1,701.
The transport sector reported a 44% shrinkage in trade volume to 0.33 shares, 45% in value to QR11.2mn and 38% in transactions to 211.
The consumer goods sector’s trade volume tanked 31% to 0.49mm equities, value by 24% to QR42.8mn and deals by 18% to 658.
The real estate sector witnessed a 20% decline in trade volume to 2.09mn stocks and 7% in value to QR49.33mn but on a 23% increase in transactions to 721.
The industrials sector’s trade volume shrank 15% to 1.15mn shares, value by 29% to QR48.42mn and deals by 10% to 830.
However, the market witnessed a 21% surge in the telecom sector’s trade volume to 2.43mn equities but on a 10% fall in value to QR38.99mn; even as transactions almost tripled to 551.
In the debt market, there was no trading of treasury bills and government bonds.



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