Foreign funds’ net selling drags QSE 41 points; but Islamic stocks outperform

The Qatar Stock Exchange (QSE) on Tuesday saw more than 61% of the traded constituents make gains, yet it settled in the negative, reflecting the global concerns on the US Federal Reserve’s moves on rate hike.
A higher than average selling pressure in the transport, banking and telecom counters led the 20-stock Qatar Index lose more than 41 points or 0.36% to 11,425.48 points, although it touched an intraday high of 11,483 points.
The foreign funds were seen net profit takers in the main market, whose year-to-date gains truncated to 6.97%.
The foreign individuals were also seen net sellers in the main bourse, whose capitalisation saw QR1.62bn or 0.25% decrease to QR648.33bn, mainly led by microcap segments.
However, the Gulf institutions were increasingly into net buying in the main market, which saw a total of 0.18mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.91mn changed hands across 26 deals.
The domestic institutions turned net buyers in the main bourse, which saw no trading of sovereign bonds.
The Islamic index witnessed gains vis-à-vis declines in the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index shrank 0.36% and All Share Index by 0.34%, while Al Rayan Islamic Index (Price) rose 0.24% in the main bourse, whose trade turnover and volumes were on the increase.
The transport sector index tanked 1.05%, banks and financial services (0.64%), telecom (0.59%) and insurance (0.36%); while real estate gained 1.15%, consumer goods and services (0.69%) and industrials (0.1%).
Major shakers in the main market included Lesha Bank, Al Meera, Qatar Industrial Manufacturing, Medicare Group, Nakilat, QNB, Doha Bank and Ooredoo.
Nevertheless, Qatari German Medical Devices, Qatar General Insurance and Reinsurance, Qatar Oman Investment, Dlala, Salam International Investment, Alijarah Holding, Qamco, Mesaieed Petrochemical Holding, Ezdan and Mazaya Qatar were among the gainers in the main market. In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.
The foreign institutions turned net sellers to the tune of QR20.65mn compared with net buyers of QR72.74mn on January 9.
The foreign retail investors were net sellers to the extent of QR11.41mn against net buyers of QR4.26mn the previous day.
However, the Gulf institutions’ net buying increased noticeably to QR35.81mn compared to QR29.19mn on Monday.
The domestic institutions turned net buyers to the tune of QR1.79mn against net sellers of QR52.23mn on January 9.
The Arab institutions were net buyers to the extent of QR0.12mn compared with no major net exposure the previous day.
The local retail investors’ net profit booking declined considerably to QR1.82mn against QR35.09mn on Monday.
The Arab individuals’ net selling weakened significantly to QR2.34mn compared to QR16.33mn on January 9.
The Gulf retail investors’ net profit booking shrank perceptibly to QR1.52mn against QR2.54mn the previous day.
The main market saw a 33% surge in trade volume to 210.51mn shares and 9% in value to QR619.02mn but on 6% contraction in deals to 18,935.
In the venture market, as many as 14,443 equities valued at QR17,326 change hands across four transactions.