Buying interest, especially in the large and mid cap segments, extended the bullish run in the Qatar Exchange for the second day yesterday. Notwithstanding the profit-booking pressure exerted by local retail investors, the QE Index (based on price data) rose 0.23% to 8,317.59 points. The market is, however, down 5.26% year-to-date.

All Share Index (comprising wider constituents) and Total Return Index also gained 0.22% and 0.23% to 2,005.01 and 11,256.70 points. Both the indices factored in dividend income as well.

Major gainers included Commercialbank, Industries Qatar and Gulf Warehousing; while Qatari Investors Group bucked the trend.

Under the All Share Index category, the industrials index shot up 1.01%, transport (0.20%), banks and financial services (0.08%) and insurance (0.01%), whereas the indices of realty, consumer goods and telecom fell 0.28%, 0.27% and 0.26% respectively.

Market capitalisation rose 0.41% or about QR2bn to QR456.74bn with large, mid and small cap equities notably gaining 0.33%, 0.17% and 0.11% respectively
Of the 42 stocks, 20 advanced, while only 14 declined, three were unchanged and five were not traded.

Qatari individual investors turned profit takers that they were net sellers to the tune of 4.73% compared with net buyers of 6.05% the previous day. Their net selling amounted to QR6.68mn.

A much lower 52.06% of them purchased equities compared to 64.60% on Tuesday and a lower 56.79% sold against 58.55%.

However, non-Qatari retail investors turned bullish that they were net buyers to the extent of 1.96% compared with net sellers of 2.43% the previous day. Their net buying was QR2.77mn.

A higher 17.33% of them were into buying against 13.55% on Tuesday while a marginally lower 15.37% were into offloading against 15.98%.

Foreign institutions turned bullish that they were net buyers to the tune of 1.10% compared with net sellers of 4.91% the previous day. Their net buying was QR1.55mn.
A higher 17.24% of them were into buying against 7.20% on Tuesday and a higher 16.14% of them into selling compared to 12.11%.

Domestic institutions’ bullish grip marginally strengthened as their net buying rose to 1.67% from 1.29% the previous day. Their net buying was QR2.36mn.

A marginally lower 13.37% of them bought equities compared to 14.65% on Tuesday and a lower 11.70% offloaded against 13.36%.

Total trading volume shrank 43% to 3.79mn equities, value by 35% to QR141.23mn and deals by 25% to 2,496.

The industrials sector’s trading volume plummeted 73% to 0.38mn shares, value by 61% to QR16.40mn and transactions by 47% to 377.

The insurance sector’s trading volume plunged 68% to 0.06mn shares, value by 67% to QR2.77mn and deals by 55% to 54.

The consumer goods and services sector’s trading volume tanked 40% to 0.68mn shares, value by 40% to QR40.22mn and transactions by 23% to 632.

The banks and financial services sector’s trading volume declined 39% to 1mn shares, value by 9% to QR43.48mn and deals by 10% to 604.

The real estate sector’s trading volume shrank 35% to 1.21mn shares, value by 31% to QR27.49mn and transactions by 55% to 54.

The transport sector’s trading volume was down 13% to 0.28mn shares, while value rose 8% to QR7.60mn but deals fell 7% to 222.

However, the telecom sector’s trading volume gained 13% to 0.18mn shares, whereas value fell 15% to QR3.29mn and transactions by 11% to 87.

Actively traded stocks (in terms of volume) were Barwa (720,694 shares); Mawashi (558,915); Qatar Oman Investment (405,019); United Development Company (255,116) and Mazaya Qatar (238,901).

Reuters adds: All Gulf markets rose on the back of some estimate-beating earnings and support from European markets. Egypt’s index ended 1.5% higher at 4,936 points, a new four-week high.

Telecom operator Etisalat helped lift Abu Dhabi’s index to a 16-week closing high, while Dubai’s benchmark also extended gains as property-related stocks support.

Abu Dhabi’s index climbed 0.4% to 2,517 points, its highest finish since April 12. It is up 4.8% in 2012, the third-best performing Gulf benchmark, behind Dubai, up 14.4%, and Saudi Arabia up 7.2%.

The Dubai index rose 0.3% to 1,548 points, its highest close since May 8. In Kuwait, the index ended little changed, hovering at Tuesday’s six-and-a-half-month low.

In Oman, the measure rallied 1.3% to 5,428 points, halting a nine-session losing streak.
The Saudi index climbed 0.2% to 6,893 points, while Bahrain’s measure rose 0.1% to 1,101 points.