Qatar- Telecom, transport and industrials help QSE cross 10,450 levels

(MENAFN - Gulf Times) Strong buying, especially in the telecom, transport and industrials counters, yesterday led the Qatar Stock Exchange to surpass the 10,450 levels. A substantially weakened net selling pressure from the local retail investors was visible as the 20-stock Qatar Index settled 56 points or 0.54% higher at 10,457.3 points, regaining from an intraday low of 10,372 points. The foreign institutions continued to be net buyers but with lesser vigour in the bourse, which returned year-to-date gains of 0.2%. The Islamic index was seen gaining faster than the other indices in the market whose capitalisation saw more than QR2bn or 0.39% increase to QR608.19bn, mainly owing to microcap segments. The foreign retail investors were also net sellers but with lesser intensity in the bourse, where the industrials and banking sectors together accounted for about 56% of the total trading volume. A total of 46,390 exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR437,685 changed hands across eight deals; while in the debt market, there was no trading of sovereign bonds and treasury bills. The Total Return Index rose 0.54% to 20,692.71 points, the All Share Index by 0.42% to 3,326.28 points and the Al Rayan Islamic Index (Price) by 0.57% to 2,401.4 points. The telecom index soared 3.62%, transport (1.25%), industrials (1.19%), consumer goods and services (0.07%) and banks and financial services (0.02%); whereas real estate and insurance declined 0.54% and 0.26% respectively. More than 53% of the traded stocks extended gains with major movers being Vodafone Qatar, Dlala, Ooredoo, QLM, Industries Qatar, Nakilat, Milaha, Qatar Islamic Bank and Qatar National Cement; even as Doha Insurance, Al Khaleej Takaful, Medicare Group, Qatari German Medical Devices, Commercial Bank, Inma Holding, Widam Food, Qatar General Insurance and Mazaya Qatar were among the losers. Local retail investors' net selling weakened substantially to QR3.72mn against QR41.49mn on March 31. The Arab individuals' net profit booking fell noticeably to QR8.29mn compared to QR11.33mn on Wednesday. The Gulf individuals' net selling declined marginally to QR4.69mn against QR5.16mn the previous day. The foreign individuals' net selling also fell marginally to QR2.33mn compared to QR2.46mn on March 31. However, the Gulf institutions' net profit booking rose noticeably to QR28.84mn against QR19.95mn on Wednesday. The domestic funds turned net sellers to the extent of QR14.42mn compared with net buyers of QR0.41mn the previous day. The foreign institutions' net buying eased substantively to QR62.25mn against QR79.93mn on March 31. The Arab funds continued to have no major net exposure. Total trade volume fell 10% to 191.7mn shares, value by 28% to QR422.87mn and transactions by 41% to 7,668. The insurance sector's trade volume plummeted 62% to 3.88mn equities, value by 57% to QR15.48mn and deals by 49% to 429. There was 57% plunge in the real estate sector's trade volume to 14.54mn stocks, 68% in value to QR20.64mn and 67% in transactions to 505. The industrials sector's trade volume tanked 47% to 46.53mn shares, value by 57% to QR61.74mn and deals by 54% to 1,591. The market witnessed a 5% shrinkage in the consumer goods and services sector's trade volume to 28.34mn equities but on a 3% jump in value to QR76.91mn despite 25% lower transactions at 1,490. The transport sector's trade volume was down 2% to 6.14mn stocks and value by 4% to QR23.92mn; whereas deals rose 4% to 841. However, the telecom sector's trade volume more than tripled to 32.21mn shares and value soared 85% to QR62.35mn on 8% increase in transactions to 713. The banks and financial services sector saw a 62% surge in trade volume to 60.06mn equities but on 22% decline in value to QR161.83mn and 43% in deals to 2,099.    MENAFN01042021000067011011ID1101849115