Banking, realty shares lift QSE to inch near 8,800
April 05 2018 08:05 PM

The Qatar Stock Exchange was back in the positive trajectory to inch near the 8,800 levels mainly lifted by banking and realty equities.

Local retail investors turned bullish and there was increased net buying from foreign and Gulf institutions as the 20-stock Qatar Index gained 0.98% to 8,792.91 points.

Doha Bank and Masraf Al Rayan sponsored exchange traded funds QETF and QATR witnessed 1.13% and 0.43% gains respectively.

However, domestic funds were increasingly net profit takers and non-Qatari individuals’ buying interests weakened in the market, which is up 3.16% year-to-date.

Large and small cap equities witnessed robust buying support, thus leading to a 1.32% surge in capitalisation to QR484.73bn.

Trade turnover expanded amidst lower volumes in the market, where the telecom, real estate, banking and industrials sectors together accounted for about 91% of the total volume.

The Total Return Index gained 0.98% to 15,492.12 points, the All Share Index by 1.25% to 2,590.78 points and the Al Rayan Islamic Index (Price) by 0.66% to 2,223.21 points.

The banks and financial services index was seen expanding 2.01%, realty (1.83%), consumer goods (0.53%), telecom (0.45%), insurance (0.39%) and industrials (0.38%); whereas transport declined 0.33%.

About 66% of the traded stocks extended gains with major movers being QNB, Commercial Bank, Masraf Al Rayan, Ezdan, Mesaieed Petrochemical Holding, Vodafone Qatar, Gulf Warehousing, Qatari Investors Group, Salam International Investment and Al Khaliji; even as Zad Holding, Milaha, Qatar Insurance and Mazaya Qatar were among the losers.

Non-Qatari institutions’ net buying strengthened influentially to QR16.04mn against QR6.44mn the previous day.

Local individual investors turned net buyers to the tune of QR13.09mn compared with net sellers of QR3.34mn on Wednesday.

Gulf institutions’ net buying increased considerably to QR7.39mn against QR0.1mn on April 4.

Gulf individual investors’ net buying rise marginally to QR0.37mn compared to QR0.26mn the previous day.

However, domestic funds’ net selling grew significantly to QR39.34mn against QR8.01mn the previous day.

Non-Qatari individuals’ net buying declined perceptibly to QR2.44nmn compared to QR4.53mn on April 4.

Total trade volume fell 4% to 11.39mn shares, while value grew 42% to QR286.51mn despite 5% lower transactions at 3,026.

The telecom sector reported a 29% plunge in trade volume to 3.45mn equities, 28% in value to QR33.69mn and 38% in deals to 369.

The transport sector’s trade volume plummeted 27% to 0.46mn stocks, whereas value soared 30% to QR13.34mn despite transactions declining 25% to 184.

The banks and financial services sector saw a 20% decline in trade volume to 2.3mn shares, 10% in value to QR69.93mn and 13% in deals to 854.

However, the consumer goods sector’s trade volume almost tripled to 0.31mn equities and value almost doubled to QR20.33mn on more-than-doubled transactions to 332.

The insurance sector’s trade volume more than doubled to 0.31mn stocks and value also more than doubled to QR10.57mn on a 52% expansion in deals to 167.

There was a 43% surge in the industrials sector’s trade volume to 2.2mn shares to see more than tripling of value to QR99.89mn but on a 14% fall in transactions to 542.

The real estate sector’s trade volume shot up 38% to 2.36mn equities, value by 74% to QR38.77mn and deals by 28% to 578.

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

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