Qatar Exchange Index reaches new high, breaks 13 000 sealing

The Qatar Stock Exchange opened the week on a stronger note as its key index settled above the 12,850 mark, mainly on domestic and foreign institutions’ bullish outlook.

Buying interests were squarely visible at the telecom, insurance, banking and industrials counters as the 20-stock Qatar Index (based on price data) gained 0.99% to 12,854.26 points.

However, Qatari and non-Qatari retail investors were inclined towards profit-booking in the market, which is up 23.84% year-to-date.

The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the bourse where trading activities were on the rise.

Overall, volumes were mainly skewed towards realty, transport, telecom and banking equities.

The 20-stock Total Return Index rose 0.99% to 18,168.48 points, the All Share Index (with wider constituents) by 0.97% to 3,284.42 and the Al Rayan Islamic Index by 1.11% to 4,241.73. All the three indices factored in dividend income as well.

Telecoms stocks appreciated 2.22%, followed by insurance (1.33%), banks and financial services (1.05%), industrials (0.98%), transport (0.92%) and realty (0.01%); whereas consumer goods fell 0.18%.

More than 67% of the stocks extended gains with major gainers being Industries Qatar, QNB, Aamal Company, Vodafone Qatar, Nakilat, Qatar Islamic Bank, Doha Bank, Masraf Al Rayan, al khaliji and Barwa.

However, Ezdan, Mazaya Qatar, Milaha, United Development Company, Mesaieed Petrochemical Holding, Qatari Investors Group and Widam Food bucked the trend.
Market capitalisation rose 0.28%, or QR2bn, to QR727.69bn.

Foreign institutions’ net buying rose to QR39.56mn against QR7.45mn last Thursday.
Domestic institutions turned net buyers to the tune of QR69.1mn compared with net sellers of QR10.1mn the previous trading day.

However, non-Qatari individual investors turned net profit-takers to the extent of QR24.54mn against net buyers of QR12.1mn last Thursday.

Qatari retail investors’ net selling surged to QR84.22mn compared to QR9.3mn the previous trading day.

Total trading volume gained 37% to 30.03mn stocks, value by 25% to QR1bn and transactions by 14% to 11,899.

The telecom sector’s trading volume grew about eight-fold to 6.54mn equities and value also gained by about eight-fold to QR120.34mn on more-than-quadrupled deals to 1,511.

The transport sector’s trading volume almost tripled to 7.51mn shares and value more than tripled to QR235.92mn on more-than-doubled transactions to 1,801.

The market witnessed a 26% surge in consumer goods sector’s trading volume to 1.77mn stocks, while there was an 8% fall in value to QR111.41mn and 4% in deals to 1,058.

The insurance sector saw its trading volume rise 13% to 0.34mn equities and value by 13% to QR17.18mn, whereas transactions were down by 5% to 248.

The banks and financial services sector reported a 7% expansion in trading volume to 4.57mn shares, 10% in value to QR199.15mn and 1% in deals to 2,275.

However, the real estate sector witnessed its trading volume plunge 27% to 7.81mn stocks, value by 30% to QR213.83mn and transactions by 27% to 2,821.

The industrials sector’s trading volume was down 3% to 1.6mn equities, value gained 11% to QR103.62mn and deals by 24% to 2,185.

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