Strong buying interest helps Qatar shares settle near 10,400 levels
November 19 2018 08:57 PM

Strong buying interests – especially at the realty, telecom, industrials and banking counters – imparted a more than 101 points thrust to the Qatar Stock Exchange, which on Monday settled near 10,400 levels.

Foreign institutions’ robust buying support led the 20-stock Qatar Index to gain about 1% for the second straight session to 10,398.31 points.

The overall bullish momentum came amidst strong selling pressure from local retail investors and Gulf institutions in the market, which is up 22% year-to-date.

Market capitalisation expanded more than QR8bn, or 1.42%, to QR588.58bn, mainly on account of large cap equities.

Domestic institutions were seen bearish in the market, which saw Islamic equities gains slower than the main index.

Trade turnover and volumes were on the increase in the bourse, where the banking, real estate and telecom sectors together accounted for about three-fourth of the total volume.

The Total Return Index rose 0.98% to 18,320.66 points and the All Share Index by 1.36% to 3,092.32 points and the Al Rayan Islamic Index (Price) by 0.71% to 2,412.47 points.

The realty soared 2.91%, followed by telecom (1.66%), industrials (1.44%), banks and financial services (1.43%), insurance (0.91%) and transport (0.82%); whereas consumer goods plunged 2.29%.

About 63% of the traded stocks were in the red with major losers being Ezdan, Industries Qatar, Ooredoo, Vodafone Qatar, QNB, QIIB, Doha bank, Alijarah Holding and Nakilat; even as Woqod, Gulf International Services, Mazaya Qatar, Islamic Holding Group and Dlala were among the gainers.

Non-Qatari institutions’ net buying increased significantly to QR111.64mn compared to QR8.22mn on Sunday.

Gulf individuals turned net buyers to the tune of QR0.21mn against net sellers of QR1.04mn on November 18.

However, local individuals were net buyers to the extent of QR88.72mn compared with net sellers of QR18.3mn previous day.

Gulf institutions’ net selling strengthened considerably to QR15.49mn against QR3.85mn on Sunday.

Non-Qatari individuals’ net selling grew substantially to QR7.07mn compared to QR4.46mn on November 18.

Domestic institutions turned net profit-takers to the tune of QR0.57mn against net buyers of QR19.44mn the previous day.

Total trade volume rose 34% to 6.9mn shares and value by 68% to QR355.31mn on more than doubled transactions to 6,643.

The transport sector’s trade volume more than doubled to 0.46mn equities, value soared 71% to QR11.14mn on more-than-tripled deals to 402.

The industrials sector’s trade volume doubled to 0.72mn stocks and value more than quadrupled to QR42.13mn on more-than-tripled transactions to 1,282.

The telecom sector reported a 52% surge in trade volume to 1.2mn shares and 83% in value to QR42.19mn on more-than-doubled deals to 818.

The real estate sector’s trade volume grew 36% to 1.31mn equities and value by 26% to QR26.9mn on more-than-tripled transactions to 987.

The banks and financial services sector saw a 33% shrinkage in trade volume to 2.66mn stocks to more than triple value to QR169.95mn on more-than-doubled deals to 2,193.

However, the consumer goods sector’s trade volume plummeted 40% to 0.37mn shares, value by 36% to QR57.63mn and transactions by 15% to 760.

There was a 14% decline in the insurance sector’s trade volume to 0.18mn equities and 26% in value to QR5.37mn but on more than quadrupled to 201.

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

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