The Qatar Exchange extended the gains for the second day yesterday, mainly paced by mid cap equities.

Led by realty stocks, the 20-stock QE Index (based on price data) rose 0.07% to 8,418.29 points. The market is, however, down 4.11% year-to-date. A total of 47.37mn shares of Ezdan Real Estate were traded on special market, which substantially lifted the trading volume and value.

The 20-stock Total Return Index gained 0.07% to 2,023.62 points while All Share Index (comprising wider constituents) fell 0.04% to 11,392.88 points respectively. Both the indices factored in dividend income as well.

Major gainers included Doha Bank, Commercial bank, Industries Qatar, Barwa, United Development Company and Vodafone Qatar; while Qatari Investors Group and Mazaya Qatar bucked the trend.

Under the All Share Index category, the insurance index tanked 1.05%, consumer goods (0.48%), industrials (0.19%) and telecom (0.18%); whereas that of real estate gained 0.50%, banks and financial services (0.08%) and transport (0.06%).

Market capitalisation was down 0.02% or QR11mn to QR460.67bn with small and micro cap equities losing 0.58% and 0.38% respectively; while mid caps gained 0.22%.

Of the 42 stocks, 13 advanced, while 21 declined, five were unchanged and three were not traded.

Qatari individual investors turned bullish as they were net buyers to the tune 0.69% against net sellers of 0.76% the previous day. Their net buying amounted to QR8.33mn.

A much lower 10.73% of them purchased equities compared to 52.13% on Monday and a much lower 10.04% sold against 52.89%.

Non-Qatari retail investors turned profit takers that they were net sellers to the extent of 0.01% compared with net buyers of 2.38% the previous day. Their net selling was QR0.12mn.
A much lower 3.96% of them were into buying against 16.98% on Monday and a much lower 3.97% were into offloading against 14.60%.

Foreign institutions continued to be profit takers but with lesser intensity as their net selling fell to 0.84% from 5.69% the previous day. Their net selling was QR10.14mn.

A much lower 1.98% of them were into buying against 12.61% on Monday and a much lower 2.82% of them into selling compared to 18.30%.

Domestic institutions continued to be bullish but with lesser vigour as their net buying sunk to 0.17% from 4.06% the previous day. Their net buying was QR2.05mn.

A much higher 83.33% of them bought equities compared to 18.28% on Monday and a much higher 83.16% offloaded against 14.22%.

Total trading volume jumped more than 14-fold to 54.51mn equities and value by about 8-fold to QR1.21bn on a 31% rise in deals to 3,986.

The real estate sector’s trading volume gained more than 82-fold to 49.22mn shares and value by about 94-fold to QR975.28mn on more than doubled transactions to 585.

The insurance sector’s trading volume more than doubled to 0.55mn shares and value also more than doubled to QR27.90mn on 74% jump in deals to 311.

The transport sector’s trading volume zoomed 82% to 0.60mn shares, value by 77% to QR14.25mn and transactions by 12% to 381.

The industrials sector’s trading volume surged 75% to 1.03mn shares and value by 21% to QR42.81mn while deals were down 9% to 561.

The banks and financial services sector’s trading volume soared 68% to 2.27mn shares, value by 94% to QR104.02mn and transactions by 39% to 1,307.

The consumer goods and services sector’s trading volume rose 46% to 0.60mn shares, value by 21% to Q42.81mn and deals by 38% to 621.

The telecom sector’s trading volume was up 4% to 0.24mn shares, whereas value fell 9% to QR8.99mn and transactions by 6% to 220.

Actively traded stocks (in terms of volume) were Ezdan (47.37mn shares); Mazaya Qatar (1.25mn); Islamic Holding Group (1.19mn); Qatari Investors Group (768,467) and Nakilat (468,291).

Reuters adds: Egypt’s index rose for a third straight session yesterday, closing at a near 5-month high, as President Mohamed Mursi’s move to take powers from the army revived hopes of economic stability among investors.

Mursi, voted into office in June after the ousting of Hosni Mubarak last year, retired the country’s two top generals and cancelled a decree issued by the military before his election which had curbed the power of the presidency.

“On paper things are looking more neat and more comfortable for any kind of investor,” said Teymour el-Derini at Naeem Brokerage. “Things are going in a democratic manner... I think we’ll see a rally in the next couple of months.”

He said Mursi’s move, which already pushed the benchmark index up 1.5% on Monday, is bringing more foreign and retail investors into the market.

Yesterday, the index climbed 1.3% to 5,111 points, ending at its highest close since March 22.
Most other Gulf markets advanced, as positive earnings helped lift investor sentiment.

Abu Dhabi’s index closed at an 18-week high, rising 0.3% to 2,554 points, buoyed by Dana Gas which posted a sharp jump in quarterly profits on Monday. Dubai’s benchmark shed 0.2% to 1,578 points.

Kuwait’s measure advanced 0.2% to 5,701 points, helped by National Industries Group which jumped to a three-week high after it said it will repay its $ 475mn sukuk that matures on August 16.

Saudi Arabia index ended the day near-flat, gaining 0.04% to 6,968 points as investors gear up for the long Eid holiday.

The index Omani benchmark edged up 0.05% to 5,499 points, while Bahrain’s gained 0.03% to 1,076 points.