Ahead of the implementation of global index compiler MSCI’s decision to include three QSE entities in its emerging market indices from Thursday, the Qatar Stock Exchange witnessed strong buying interests especially from foreign funds, which lifted the benchmark 113 points to near the 9,900 level.
The telecom, industrials and transport counters saw higher than average demand as the 20-stock Qatar Index soared 1.15% to 9,896.06 points.
MSCI included Woqod, Mesaieed Petrochemical Holding Company and Qatar Aluminium Manufacturing Company in its indices with effect from today.
Gulf institutions’ buying interests also strengthened in the market, whose sensitive index is, however, down 3.91% year-to-date.
Market capitalisation gained more than QR5bn, or 0.96%, to QR544.34bn mainly owing to mid and small cap segments.
Islamic equities were seen gaining slower than the main index in the market, where domestic funds and local retail investors were increasingly net profit takers.
Trade turnover and volumes were on the increase in the bourse, where the realty and industrials sectors together accounted for more than 87% of the total volume.
The Total Return Index gained 1.15% to 18,209.59 points, the Al Rayan Islamic Index (Price) by 0.85% to 2,287.56 points and the All Share Index by 0.52% to 2,918.98 points.
The telecom index shot up 2.99%, industrials (1.64%), transport (1.2%), banks and financial services (1.08%) and consumer goods (0.22%); whereas insurance and real estate declined 4.26% and 3.39% respectively.
More than 53% of the stocks extended gains with major movers being Ooredoo, Milaha, Qatar Electricity and Water, Gulf International Services, Mesaieed Petrochemical Holding, Barwa, QNB, Qatar Islamic Bank, Doha bank, QIIB, Masraf Al Rayan and Qatari German Company for Medical Devices.
Nevertheless, Commercial Bank, Mannai Corporation, Qatar National Cement, Qatar Insurance, Ezdan, United Development Company, Mazaya Qatar and Nakilat were among the losers.
Non-Qatari institutions’ net buying increased significantly to QR534.78mn against QR143.63mn on May 27.
Gulf institutions’ net buying also grew considerably to QR40.19mn compared to QR16.01mn the previous day.
Gulf individuals’ net profit booking declined substantially to QR2.05mn against QR127.39mn on Monday.
However, domestic institutions’ net selling strengthened influentially to QR519.53mn compared to QR36.19mn on May 27.
Local retail investors’ net profit booking shot up noticeably to QR52.22mn against QR5.62mn the previous day.
Non-Qatari individuals turned net sellers to the tune of QR0.88mn compared with net buyers of QR9.5mn on Monday.
Total trade volume grew almost six-fold to 112.08mn shares and value also by almost six-fold to QR2.93bn on a 48% jump in transactions to 17,324.
The realty sector’s trade volume rose almost 16-fold to 61.17mn equities and value by more than 13-fold to QR470.86mn on a 38% jump in deals to 6,289.
The industrials sector’s trade volume expanded almost six-fold to 36.39mn stocks and value also by almost six-fold to QR969.03mn on a 50% growth in transactions to 4,703.
The consumer goods sector’s trade volume more than tripled to 4.68mn shares and value rose almost nine-fold to QR899.6mn on a 27% rise in deals to 2,055.
The transport sector’s trade volume almost tripled to 0.82mn equities and value more than tripled to QR20.52mn on a 49% surge in transactions to 259.
The insurance sector reported a 49% gain in trade volume to 0.85mn stocks, 53% in value to QR28.22mn and 97% in deals to 404.
The telecom sector’s trade volume shot up 33% to 0.85mn shares and value more than tripled to QR24.62mn on more-than-doubled transactions to 534.
The banks and financial services sector saw a 26% expansion in trade volume to 7.32mn equities and value more than doubled to QR520.68mn on a 73% increase in deals to 3,080.
In the debt market, there was no trading of treasury bills and sovereign bonds.
