Posted on August 19, 2014
The enhancement in MSCI weightings on three Qatari stocks positively reflected in the Qatar Stock Exchange yesterday with its key benchmark inching near the 13,700 mark. Foreign and domestic institutional investors were mainly instrumental in lifting the 20-stock Qatar Index (based on price data) by 1.7%, or 228 points, to close at 13,644.64, amid falling volumes.
Global index compiler Morgan Stanley Composite Index (MSCI) had increased the weighting of Industries Qatar, QNB and Qatar Islamic Bank in its emerging market index. Buying interests was largely visible in the banks and financial services in the market, which is up 31.46% year-to-date. Market capitalisation expanded 1.31%, or more than QR9bn, to QR726.34bn. Large, mid, micro and small cap equities gained 2.17%, 1.03%, 0.91% and 0.64% respectively.
Banks and financial services stocks appreciated 2.34%, followed by industrials (1.47%), insurance (1.29%), realty (1.12%) and consumer goods (0.87%); whereas telecom fell 0.17% and transport (0.05%). More than 73% of the stocks extended gains with major movers being QNB, Industries Qatar, Qatar Islamic Bank, Vodafone Qatar, Doha Insurance and Widam Food. However, Mesaieed Petrochemical Holding, Ooredoo, Aamal Company and Qatar Islamic Insurance were seen to buck the trend.

Qatar Airways DC

Mazaya Qatar, Ezdan and Mesaieed Petrochemical Holding were the most active in terms of both volume and value respectively. Domestic and foreign institutions were net buyers to the tune of QR14.81mn and QR26.12mn respectively. On the retail front, local individuals were profit-takers to the extent of QR49.74mn; whereas non-Qatari investors were net buyers to the tune of QR8.9mn. Total trading volume fell 21% to 17.81mn stocks, while value rose 12% to QR856.05mn and transactions by 1% to 8,513. The industrials sector's trading volume plummeted 56% to 2.49mn equities, value by 7% to QR236.06mn and deals by 7% to 2,662.
The real estate sector witnessed a 44% plunge in trading volume to 6.58mn shares, 43% in value to QR150.63mn and 37% in transactions to 1,812. The insurance sector's trading volume declined 11% to 0.08mn stocks but value rose 8% to QR4.55mn and deals by 1% to 79. However, the transport sector's trading volume almost tripled to 1.3mn equities and value more than doubled to QR33.44mn on 55% jump in transaction to 362. The telecom sector's trading volume soared 96% to 1.49mn shares and value more than doubled to QR59.94mn on a 90% jump in deals to 607. The consumer goods sector saw its trading volume expand 86% to 1.49mn stocks, value more than doubled to QR58.96mn and transactions by 34% to 603. The banks and financial services sector reported a 51% surge in trading volume to 4.41mn equities, 81% in value to QR312.45mn and 53% in deals to 2,388.
source: Gulf Times