Foreign institutions’ renewed buying interest extends rally to 4th day
May 24 2018 07:46 PM

The Qatar Stock Exchange on Thursday witnessed its key index surpass 9,000 levels and capitalisation top QR500bn mainly on foreign institutions’ renewed buying interests.

Mainly led by transport, consumer goods and real estate equities, the 20-stock Qatar Index gained for the fourth consecutive day by 0.55% to 9,049.19 points.

Masraf Al Rayan and Doha Bank sponsored exchange traded funds QATR and QETF gained 2.74% and 1.23% respectively.

The weakened net selling by Gulf institutions also helped the market, which is up 6.17% year-to-date.

The bourse’s capitalisation gained 0.45% to QR501.2bn mainly on the back of robust buying in the microcap segment.

Trade turnover and volumes were on the increase in the market, where the industrials and banking sectors together accounted for about 77% of the total volume.

The Total Return Index rose 0.55% to 15,943.67 points, the All Share Index by 0.42% to 2,649.48 points and the Al Rayan Islamic Index (Price) by 0.38% to 2,202.54 points.

The transport index soared 2.16%, followed by consumer goods (1.45%), realty (0.57%), industrials (0.46%) and banks and financial services (0.25%); while insurance and telecom declined 1.01% and 0.07% respectively.

More than 60% of the stocks extended gains with major movers being Nakilat, Qatar Islamic Bank, Mesaieed Petrochemical Holding, Gulf International Services, Salam International Investment and Industries Qatar; whereas QIIB, Qatar Oman Investment, Vodafone Qatar, Qatari Investors Group and Qatari German Company for Medical Devices were among the losers.

Non-Qatari institutions’ net buying increased perceptibly to QR118.46mn against QR101.3mn on May 23.

Gulf institutions’ net selling weakened significantly to QR12.88mn compared to QR63.68mn the previous day.

However, domestic funds’ net profit-booking strengthened considerably to QR72.89mn against QR9.37mn on Wednesday.

Local individual investors’ net selling rose marginally to QR31.1mn compared to QR30.66mn on May 23.

Gulf individuals turned net sellers to the tune of QR1.44mn against net buyers of QR1.6mn the previous day.

Non-Qatari individual investors were also net profit-takers to the extent of QR0.08mn compared with net buyers of QR0.82mn on Wednesday.

Total trade volume rose 31% to 11.78mn shares, value by 19% to QR390.18mn and transactions by 12% to 4,548.

The industrials sector’s trade volume more than doubled to 5.43mn equities, value soared 89% to QR119.68mn and deals by 25% to 1,157.

The real estate sector reported a 38% surge in trade volume to 0.83mn stocks, 61% in value to QR10.24mn and 45% in transactions to 468.

The transport sector’s trade volume shot up 26% to 0.72mn shares and value by 14% to QR13.58mn, while deals were down 5% to 332.

The market witnessed a 21% increase in the insurance sector’s trade volume to 0.23mn equities and 17% in value to QR7.53mn on more-than-doubled transactions to 175.

The banks and financial services sector saw a 17% expansion in trade volume to 3.59mn stocks and 5% in value to QR207.84mn but on a 1% dip in transactions to 1,622.

However, the telecom sector’s trade volume plummeted 58% to 0.67mn shares and value by 33% to QR10.77mn, whereas deals gained 24% to 338.

Although the consumer goods sector’s trade volume was flat at 0.3mn equities, there was a 14% decline in value to QR20.53mn and 6% in transactions to 456.

In the debt market, there was no trading of treasury bills, whereas as a total of 50,000 sovereign bonds valued at QR499.5mn changed hands across two deals.

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