Across-the-board buying lifts QSE above 8,500 levels
April 26 2020 07:52 PM
qse
A view of the electronic screens inside the Qatar Stock Exchange.

An across the board buying — especially in the insurance and telecom sectors — on Sunday lifted the Qatar Stock Exchange above 8,500 levels.

The Arab and local retail investors were seen net buyers as the 20-stock Qatar Index gained 40 points or 0.47% to 8,513.07 points, although it touched a high of 8,524 points with only 15 minutes for the closing.

Foreign individuals were also seen bullish on the bourse, whose year-to-date losses stood at 18.34%.Market capitalisation saw about QR1bn or 0.2% increase to QR478.43bn mainly owing to microcap segments.

Islamic stocks were seen gaining faster than the main index on the market, where the domestic funds turned net profit takers.

Trade turnover and volumes were on the decline on the market, where realty sector alone accounted for about 60% of the total trading volume.

The Total Return Index rose 0.47% to 16,366.09 points, All Share Index by 0.45% to 2,648.39 points and Al Rayan Islamic Index (Price) by 0.92% to 1,853.29 points.

The telecom index soared 2.57%, insurance (1.33%), consumer goods and services (0.85%), banks and financial services

(0.33%), realty (0.22%), industrials (0.19%) and transport (0.14%).More than 70% of the traded constituents extended gains with major movers being Vodafone Qatar, Al Khaleej Takaful, Qatar Islamic Insurance, Salam International Investment, Medicare Group, Doha Bank, Alijarah Holding, Dlala, Qatar Oman Investment, Islamic Holding Group, Baladna, United Development Company and Mazaya Qatar; even as Commercial Bank,

Qatar First Bank and Ezdan were among the losers.

The Arab individuals turned net buyers to the tune of QR6.45mn compared with net sellers of QR27.27mn on April 23.

Qatar individuals were net buyers to the extent of QR2.47mn against net sellers of QR37.6mn the previous trading day.

The Gulf individuals turned net buyers to the tune of QR2.22mn compared with net sellers of QR0.4mn last Thursday.

Foreign individuals were also net buyers to the extent of QR0.43mn against net sellers of QR6.15mn on April 23.

Foreign funds’ net profit booking eased noticeably to QR6.57mn compared to QR11.99mn the previous day.

However, domestic funds turned net sellers to the tune of QR7.36mn against net buyers of QR61.09mn last Thursday.

The Gulf funds’ net buying weakened substantially to QR2.36mn compared to QR22.33mn on April 23.

The Arab institutions had no major exposure.

Total trade volumes fell 32% to 234.36mn shares, value by 57% to QR193.26mn and transactions by 55% to 5,193.

The transport sector’s trade volume plummeted 93% to 1.44mn equities, value by 93% to QR3.58mn and deals by 87% to 140.

The insurance sector reported 73% plunge in trade volume to 0.78mn stocks, value by 73% to QR1.55mn and transactions by 80% to 68.

The consumer goods and services sector's trade volume tanked 45% to 36.02mn shares, value by 72% to QR23.62mn and deals by 59% to 835.

There was 33% shrinkage in the industrials sector’s trade volume to 25.38mn equities, 55% in value to QR21.8mn and 51% in transactions to 788.

The real estate sector’s trade volume shrank 24% to 140.45mn stocks, value by 27% to QR94.25mn and deals by 27% to 1,725.

The telecom sector saw 14% contraction in trade volume to 9mn shares, 38% in value to QR10.57mn and 57% in transactions to 264.

The banks and financial services sector’s trade volume was down 11% to 21.28mn equities, value by 66% to QR37.88mn and deals by 59% to 1,373.

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




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