Strong buying interest in realty, industrials lifts QE

Strong buying interest, especially in realty and industrials, yesterday imparted bullish momentum to the Qatar Exchange, which had been treading a flat path for the last three days.

Domestic institutions were mainly instrumental in lifting the 20-stock QE Index (based on price data) by 0.26% to 8,747.51 points.

Foreign institutions’ buying interests were seen slackened in the market, which is up 4.65% year-to-date (YTD).

The telecom, industrials and transport sectors were the best performers YTD as their stocks gained 7.33%, 6.29% and 5.15% respectively; while insurance continued to be in the negative turf.

Among the major gainers were United Development Company (UDC), al khaliji, Qatari Investors Group, Gulf International Services (GIS) and Nakilat; even as Doha Bank and Barwa bucked the trend.

The 20-stock Total Return Index gained 0.26% to 11,915.20 points, the All Share Index (comprising wider constituents) by 0.21% to 2,109.48 points and the Al Rayan Islamic Index by 0.32% to 2,552.03 points.

All the three indices factored in dividend income as well.

Under the All Share Index category, the real estate index surged 1.30%, followed by industrials (0.47%), transport (0.22%) and banks and financial services (0.04%); while the indices of consumer goods and insurance fell 0.64% and 0.10% respectively. The telecom index was flat.

However, market capitalisation shrank 0.75%, or about QR4bn, to QR475.24bn mainly on a 0.30% fall in micro cap equities; even as small and large caps gained 1.27% and 0.05% respectively.

Read more: http://www.gulfbase.com/news/strong-buying-interest-in-realty-industrials-lifts-qe/228563