The Qatar Stock Exchange on Wednesday saw decliners outnumber gainers, but it closed in the positive, mainly on sustained net buying support from domestic institutions.
Although five of the seven sectors were under selling pressure, the 20-stock Qatar Index gained 0.19% to 10,144.89 points as global oil prices rose further, ahead of the US inventory report.The market by and large traded below 10,120 points for most part of the session once touching a low of 10,080 points, but last minute buying interests led it overall gain 19 points against the previous close.Kamco analysts said a close above 10,000 points would enhance further advance towards 10,225 points although the weekly relative strength index indicator is currently looking "negative".Banking stocks saw noticeable buying interests in the bourse, which saw non-Qatari retail investors turn bullish and there was also reduced net selling by Gulf institutions.Islamic stocks however declined vis-à-vis gains in the other indices in the market, which saw increased net selling by local and Gulf retail investors and lower buying support from foreign institutions.Trade turnover declined amidst higher volumes in the market, where banking, telecom and real estate sectors together accounted for more than 89% of the total volumes.Market capitalisation rose QR72mn, or 0.13%, to QR539.95bn as large and microcap equities gained 0.43% and 0.11%; while small and midcaps declined 1.49% and 0.29% respectively.The Total Return Index gained 0.19% to 17,012.38 points and the All Share Index by 0.08% to 2,867.36 points, while the Al Rayan Islamic Index fell 0.26% to 4,050.8 points.The banks and financial services sector’s index expanded 0.65% and that of consumer goods by 0.05%; whereas that of insurance declined 1.36%, telecom (0.24%), transport (0.21%), industrials (0.21%) and realty (0.17%).Major gainers included QNB, Commercial Bank, Masraf Al Rayan, Dlala, Islamic Holding Group, Mannai Corporation, Mesaieed Petrochemical Holding, Gulf International Services and Aamal Company.Nevertheless, Industries Qatar, Ooredoo, Qatar Electricity and Water, Gulf Warehousing, QIIB, United Development Company, Barwa, al khaliji, Medicare Group, Qatar General and Reinsurance and Al Khaleej Takaful were among the losers.Domestic institutions’ net buying strengthened perceptibly to QR27.55mn compared to QR18.12mn the previous day.Non-Qatari retail investors turned net buyers to the tune of QR0.29mn against net sellers of QR2mn on May 16.The GCC (Gulf Cooperation Council) funds’ net selling weakened to QR3.21mn compared to QR6.04mn on Tuesday.However, local retail investors’ net selling rose considerably to QR29.2mn against QR21.07mn the previous day.The GCC individual investors’ net profit-booking strengthened to QR4.68mn compared to QR1.41mn on May 16.Non-Qatari institutions’ net buying fell substantially to QR9.27mn against QR12.37mn on Tuesday.Total trade volumes rose 9% to 9.33mn shares, while value fell 7% to QR226.2mn and deals by 15% to 2,633.The banks and financial services sector’s trade volume more than doubled to 4.55mn equities, value soared 73% to QR114.76mn and transactions by 20% to 1,220.The consumer goods sector’s trade volume almost doubled to 0.31mn stocks but value fell 21% to QR12.04mn despite 76% increase in deals to 329.There was 64% surge in the insurance sector’s trade volume to 0.18mn shares and 82% in value to QR12.48mn but on 40% decline in transactions to 46.However, the transport sector’s trade volume plummeted 70% to 0.16mn equities, value by 70% to QR5.74mn and deals by 67% to 160.The real estate sector saw 44% plunge in trade volume to 1.8mn stocks, 53%in value to QR37.72mn and 54% in transactions to 272.The industrials sector’s trade volume tanked 28% to 0.33mn shares, value by 39% to QR18.96mn and deals by 24% to 326.The telecom sector reported 17% shrinkage in trade volume to 2mn equities, 1% in value to QR24.49mn and 15% in transactions to 280.In the debt market, there was no trading of treasury bills and government bonds.
May 17, 2017 | 07:34 PM