QSE inches near 9,100 level on domestic institutions
February 18 2018 08:00 PM

The Qatar Stock Exchange on Sunday opened the week on a stronger note to inch near 9,100 levels mainly on stronger buying support from domestic institutions.

An across the board buying – particularly at the insurance, industrials, transport and realty counters – led the 20-stock Qatar Index to gain 0.57% to 9,079.43 points.

Non-Qatari individuals turned net buyers in the market, which is up 6.52% year-to-date.

Buying was more perceptible within small and midcap stocks in the bourse, whose capitalisation gained 0.71% to QR484.83bn.

Islamic stocks were seen gaining faster than the main index in the market, which, however, saw Gulf and foreign institutions increasingly net sellers and local individuals turn bearish.

Trade turnover grew amidst lower volumes in the market, where banking, real estate and industrials sectors together accounted for about 85% of the total volume.

The Total Return Index gained 0.57% to 15,329.37 points, the Al Rayan Islamic Index by 0.61% to 3,696.26 points and the All Share Index by 0.62% to 2,530.17 points.

The insurance index soared 1.51%, industrials (1.3%), transport (0.88%), realty (0.72%), telecom (0.6%), banks and financial services (0.17%) and consumer goods (0.12%).

More than 71% of the stocks extended gains with major movers being Qatar Insurance, Industries Qatar, Aamal Company, Qatari Investors Group, Vodafone Qatar, Commercial Bank, Ahli Bank, Barwa, Mazaya Qatar, Nakilat, Milaha, Alijarah Holding and Widam Food; while Masraf Al Rayan, Mesaieed Petrochemical Holding, Gulf Warehousing and Salam International Investment were among the losers.

Domestic institutions’ net buying strengthened substantially to QR39.35mn compared to QR7.65mn on February 15.

Non-Qatari retail investors turned net buyers to the tune of QR7.47mn against net sellers of QR6.52mn last Thursday.

The Gulf individual investors’ net selling fell marginally to QR0.37mn compared to QR0.47mn the previous trading day.

However, the Gulf institutions’ net selling increased influentially to QR20.3mn against QR0.75mn on February 15.

Local individuals turned net sellers to the extent of QR20.04mn compared with net buyer of QR6.21mn last Thursday.

Non-Qatari institutions’ net profit booking grew considerably QR10.69mn against QR6.13mn the previous trading day.

Total trade volume fell 4% to 7.02mn shares, while value rose 22% to QR169.7mn despite 24% lower transactions to 2,264.

The consumer goods sector’s trade volume almost tripled to 0.47mn equities and value more than doubled to QR28.11mn on 11% jump in deals to 237.

The insurance sector reported 20% surge in trade volume to 0.06mn stocks and 17% in value to QR2.69mn but on 32% decline in transactions to 67.

The transport sector’s trade volume soared 20% to 0.18mn shares, value by 8% to QR5.66mn and deals by 2% to 108.

The banks and financial services sector saw 17% increase in trade volume to 3.79mn equities and 26% in value to QR85.81mn but on 36% shrinkage in transactions to 674.

However, the telecom sector’s trade volume plummeted 69% to 0.35mn stocks, value by 52% to QR5.49mn and deals by 47% to 172.

There was 21% plunge in the industrials sector’s trade volume to 1.08mn shares but on 4% rise in value to QR26.6mn despite 16% fall in transactions to 635.

The real estate sector’s trade volume was down 4% to 1.09mn equities, value by 1% to QR15.32n and deals by 11% to 371.

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

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