The Qatar Exchange yesterday surpassed the 11,600 mark, gaining for the fifth consecutive day, led by telecom, realty, banking and industrials stocks.
Foreign institutions' increased net buying was mainly instrumental in lifting the 20-stock Qatar Index (based on price index) by 0.67% to 11,639.79 points.
Local retail investors also turned net buyers, albeit at lower levels, which help sustain the bullish momentum in the market, which is up 12.14% year-to-date. The index that tracks Shariah-principled stocks was seen to gain slower than the other indices in the bourse. The 20-stock Total Return Index rose 0.89% to 17,313.08 points, the All Share Index (with wider constituents) by 0.89% to 2,992.38 and the Al Rayan Islamic Index by 0.62% to 3,578.42 points.
All the three indices factored in dividend income as well.
Telecom stocks soared 1.68%, followed by realty (1.06%), banks and financial services (1.03%), industrials (0.98%), consumer goods (0.33%) and transport (0.02%); while insurance fell 0.63%.
More than 63% of the stocks extended gains with major movers being Industries Qatar, QNB, Commercial Bank, International Islamic, Masraf Al Rayan, al khaliji, Gulf International Services, United Development Company, Barwa, Mazaya Qatar, Widam Food and Salam International Investment.
However, Qatar Islamic Bank, Doha Bank, Ooredoo, Nakilat, Ezdan, Mesaieed Petrochemical Holding Company and Qatari Investors Group bucked the trend.
Market capitalisation expanded 0.49%, or more than QR3bn, to QR650.37bn. Large, micro and mid-cap equities notably gained 0.94%, 0.4% and 0.27% respectively.
Foreign institutions' net buying amounted to QR55.19mn against QR41.28mn against on Sunday.
Qatari retail investors turned net buyers to the tune of QR11.99mn compared with net sellers of QR12.97mn the previous day.
Domestic institutions' net selling stood at QR55.35mn against QR34.61mn on Sunday.
Non-Qatari individual investors turned net sellers to the tune of QR11.83mn compared with net buyers of QR6.3mn the previous day.
Total trading volume soared 41% to 18.38mn stocks, value by 31% to QR794.08mn and transactions by 10% to 9,109.
The transport sector's trading volume grew more than five-fold to 1.26mn equities and value almost tripled to QR28.74mn on a 26% jump in deals to 246.
The insurance sector's trading volume more than tripled to 0.22mn shares and value also more than tripled to QR11.91mn on an 88% surge in transactions to 171.
The real estate sector witnessed its trading volume more than double to 6.96mn stocks and value also more than double to QR174.64mn on a 64% gain in deals to 1,775.
The banks and financial services sector reported 39% surge in trading volume to 4.46mn equities, 45% in value to QR257.24mn and 28% in transactions to 2,472.
The telecom sector saw its trading volume expand 4% to 1.15mn shares but value almost tripled to QR36.75mn. Deals rose 30% to 374.
However, the industrials sector's trading volume plummeted 32% to 2.28mn stocks, value by 20% to QR156.9mn and transactions by 14% to 2,709.
The market witnessed a 5% fall in consumer goods sector's trading volume to 2.06mn equities, 5% in value to QR127.91mn and 12% in deals to 1,362.
© Gulf Times 2014
