Oil advances affect the QSE; the index jumped 128 points
Strength in global oil prices, which hit $139 a barrel, provided support for the Qatar Stock Exchange, which yesterday gained more than 128 points and its key index edged closer to 13,600 levels. Above-average demand, particularly in the industrials and real estate sectors, led the 20-stock Qatar Index to gain around 1% to 13,591.51 points, recovering from an intraday low of 13,424 points. Arab institutions were seen as bullish in the market, whose year-to-date gains soared to 16.91%. Over 57% of constituents traded extended gains to investors on the exchange, whose capitalization saw QR 4 billion or 0.52% increase to QR 772.58 billion, driven mainly by the mid-cap segments. The weakening of net sales by national institutions had its influence on the market, where the industrial sector alone accounted for around 55% of the volume of transactions. Foreign institutions continued to be net buyers, but with less intensity on the exchange, which saw a total of 40,150 exchange-traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at 370,322 QR changed of hands in 11 deals. Nevertheless, local retail investors were increasingly net sellers in the market, which saw no sovereign bond trading. Turnover and total trading volumes increased on the exchange, which saw no trading in Treasuries. The Total Return Index increased by 1.8% to 27,470.37 points, the All Share Index by 1.24% to 4,315.2 points and the Al Rayan Islamic Index (price) by 1.48 % at 2,971.93 points. The index of industrial sectors jumped 6.34%, real estate (1.21%), insurance (0.61%) and transport (0.13%); while telecoms fell by 1.79%, banks and financial services (0.38%) and consumer goods and services (0.21%). The main winners in the main market are Qatar Industries, Qamco, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Electricity and Water, Qatar Islamic Bank, QIIB, Dlala, Barwa and Salam International Investment. In the venture capital market, Mekdam Holding has seen its shares rise in value. Nevertheless, Investment Holding Group, Zad Holding, Milaha, Ooredoo, Qatar National Cement, QNB, Commercial Bank, Baladna, Qatar National Cement and Gulf Warehousing were among the losers in the core market. On the junior stock market, Al Faleh Educational Holding saw its shares depreciate. Arab institutions became net buyers of QR 8.2 million against net sellers of QR 6.63 million on March 3. The net sale of domestic funds decreased significantly to QR 116.1 million from QR 365.71 million on the previous trading day. Net profit bookings from Arab individuals decreased significantly to QR 3.71 million from QR 13.57 million last Thursday. Gulf retail net sales weakened significantly to QR 1.4 million from QR 3.68 million on March 3. However, Qatari retail net sales increased significantly to QR 209.15 million from QR 140.38 million on the previous trading day. Overseas individuals were net sellers of QR 2.63 million against net buyers of QR 9.18 million last Thursday. Net purchases by foreign institutions decreased significantly to QR 233.18 million from QR 374.76 million on March 3. Net purchases by Gulf institutions fell sharply to QR 91.62 million from QR 143.02 million on the previous trading day. Total trading volume in the main market increased by 1% to 395.08 million shares and value by 7% to QR 1.62 billion, while trades fell by 2% to 25,702. Trade volume in the consumer goods and services sector jumped 26% to 60.12 million shares, value by 28% to 111.67 million QR and trades by 29% to 2,142. There was a 20% increase in industrial sector trading volume to 216.88 million shares, 27% in value to 842.31 million QR and 16% in trades to 10,476. The transportation sector’s trading volume jumped 14% to 10.87 million shares and the value jumped 17% to QR 50.99 million on trades nearly doubled to 1,642. The telecom sector saw a 12% expansion in trading volume to 9.21 million shares, but a 12% contraction in value to 28.72 million QR and a 13% contraction in trades to 1,269. However, the trading volume of the real estate sector fell by 55% to 30.76 million shares, the value by 49% to 46.7 million QR and transactions by 27% to 1,190. The market saw a 29% drop in insurance sector trading volume to 5.95 million shares, 15% in value to 17.48 million QR and 3% in trades to 255. The banking and financial services sector‘s trading volume decreased by 10% to 61.29 million shares, the value by 8% to 523.44 million QR and transactions by 22% to 8,728. The venture capital market saw a contraction of 10.34% in trading volumes to 1.3 million shares and 9.9% in value to 13.47 million QR, but growth of 3. 24% of trades to 255.