Qatar Bourse Sustains Bullish Momentum On Large Cap Stocks

The bullish momentum at the Qatar Exchange was sustained yesterday, mainly supported by large cap stocks.

Foreign institutions were seen imparting buying pressure as the 20-stock QE Index (based on price data) rose 0.18% to 8,396.05 points. The market is, however, down 4.36% year-to-date.

The 20-stock Total Return Index also rose 0.18% to 11,362.88 points and the All Share Index (comprising wider constituents) by 0.09% to 2,023.48 points respectively. Both the indices factored in dividend income as well.

Under the All Share Index category, the real estate index gained 0.25%, followed by industrials (0.22%), banks and financial services (0.20%) and consumer goods (0.05%); while the indices of insurance, transport and telecom shrank 1.13%, 0.45% and 0.17% respectively.

Market capitalisation was up 0.33% or more than QR1bn to QR459.28bn mainly on a 0.24% jump in large cap equities, even as small and micro caps lost 0.31% and 0.12% respectively.

Of the 42 stocks, 19 advanced, while 18 declined, one was unchanged and four were not traded.

Qatari individual investors’ net buying sunk to 6.15% or QR8.74mn. A lower 35.66% of them purchased equities compared to 41.83% on Monday, whereas a higher 29.51% sold against 27.94%.

Non-Qatari retail investors were net buyers to the tune of 3.38% or QR4.80mn. A marginally higher 12.95% of them were into buying against 12.15% on Monday, while a lower 9.57% compared to 14.47%.

Foreign institutions’ net selling slipped to 14.65% or QR20.81mn. A much higher 36.41% of them were into buying against 19.60% on Monday and a higher 51.06% of them into selling compared to 41.94%.

Domestic institutions’ net buying fell to 5.11% or QR7.26mn. A much lower 14.97% of them bought equities compared to 26.42% on Monday and a lower 9.68% offloaded against 15.65%.

Total trading volume rose 28% to 3.31mn shares and value by 11% QR142.07mn, while deals fell 8% to 2,060.

The insurance sector’s trading volume grew five-fold to 0.05mn shares and value by more than six-fold to QR2.98mn on almost tripled transactions to 38.

The industrials sector’s trading volume more than doubled to 0.57mn shares, value soared 50% to QR45.86mn and deals by 49% to 516.

The transport sector’s trading volume surged 30% to 0.39mn shares, whereas value declined 31% to QR7.01mn and transactions by 20% to 212

The banks and financial services sector’s trading volume gained 29% to 1.54mn shares and value by 12% to QR68.18mn but deals were down 15% to 777.

The consumer goods and services sector’s trading volume was up 9% to 0.25mn shares, while value shrank 35% to QR9.54mn and transactions by 36% to 217.

However, the telecom sector’s trading volume tanked 31% to 0.18mn shares, value by 62% to QR1.86mn and deals by 46% to 74.

The real estate sector’s trading volume was down 3% to 0.32mn shares, while value rose 2% to QR6.65mn but transactions fell 5% to 226.

Actively traded stocks (in terms of volume) were Masraf Al Rayan (513,071 shares); Nakilat (359,141); Commercialbank (266,815); Gulf International Services (246,746) and Qatar Oman Investment (222,274).

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