FI buying keeps bullish momentum alive
October 05 2015 07:51 PM

By Santhosh V. Perumal/Business Reporter

Foreign institutions’ buying interests on Monday extended the bullish momentum in the Qatar Stock Exchange for the second day and its key index gained 55 points to inch near the 11,600 level.
Industrials, telecom and transport equities rather lifted the 20-stock Qatar Index 0.48% to 11,569.12 points amid fall in overall trade volumes.
The Gulf individuals’ higher net buying and lower selling pressure from their institutional counterparts were also instrumental in lifting the positive sentiments in the market, which is nevertheless down 5.83% year-to-date.
The index that tracks Shariah-principled stocks was, however, seen gaining slower than the other indices in the bourse, where trading was largely skewed towards the real estate, consumer goods and banking sectors, which together constituted more than 74% of the trading volume.
Market capitalisation rose 0.49% or about QR3bn to QR607.89bn with large, micro, mid and small cap equities gaining 0.78%, 0.5%, 0.33% and 0.23% respectively.
The Total Return Index gained 0.48% to 17,982.54 points, All Share Index by 0.47% to 3,078.08 points and Al Rayan Islamic Index by 0.4% to 4,377.1 points.
Industrials stocks appreciated 0.96%, telecom (0.86%), transport (0.64%), banks and financial services (0.41%) and insurance (0.4%); while consumer goods was down 0.01% and realty was unchanged.
About 68% of the traded stocks extended gains with major movers being Industries Qatar, QNB, Qatar Electricity and Water, Mazaya Qatar, Vodafone Qatar, Qatar Islamic Bank, Commercial Bank, Alijarah Holding, Qatar German Company for Medical Devices, Gulf International Services, Mesaieed Petrochemical Holding, Aamal Company, Ooredoo and Nakilat; even as Ezdan, United Development Company and Islamic Holding Group bucked the trend.
Non-Qatari institutions turned net buyers to the tune of QR10.24mn against net sellers of QR7.1mn the previous day.
The Gulf Cooperation Council (GCC) individual investors’ net buying rose to QR3.09mn compared to QR1.12mn on October 4.
However, the GCC institutions turned net profit booking weakened to QR2.42mn against QR5.69mn on Sunday.
However, domestic institutions turned net sellers to the extent of QR7.96mn compared with net buyers of QR8.07mn the previous day.
Local retail investors were also net profit takers to the tune of QR1.4mn against net buyers of QR1.53mn on October 4.
Non-Qatari individual investors turned net sellers to the tune of QR1.55mn compared with net buyers of QR2.09mn on Sunday.
Total trade volume was down 3% to 6.14mn shares, while value rose 2% to QR196.61mn and deals by 10% to 3,515.
There was 67% plunge in the transport sector’s trade volume to 0.2mn equities, 73% in value to QR4.71mn and 21% in transactions to 203.
The real estate sector’s trade volume plummeted 44% to 2.23mn stocks, value by 42% to QR48.76mn and deals by 38% to 709.
However, the insurance sector’s trade volume quadrupled to 0.04mn shares and value grew more than six-fold to QR2.97mn on more than tripled transactions to 52.
The telecom sector’s trade volume more than tripled to QR0.73mn equities, value soared 48% to QR13.87mn and deals by 62% to 464.
The consumer goods sector’s trade volume more than doubled to 1.22mn stocks and value rose 82% to QR32.86mn on more than doubled transactions to 513.
The banks and financial services sector reported 90% surge in trade volume to 1.1mn shares, 60% in value to QR60.01mn and 33% in deals to 764.
The industrials sector’s trade volume expanded 34% to 0.63mn equities, value by 31% to QR33.34mn and transactions by 21% to 810.
In the debt market, there was no trading of treasury bills and government bonds.

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