Domestic and foreign funds’ selling pressure drag QSE 14 points; but Islamic stocks buck the trend

The Qatar Stock Exchange (QSE) on Monday fell more than 14 points, dragged mainly by the profit booking from domestic and foreign institutions.
The industrials and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.13% lower at 10,637.41 points.
The foreign individuals were seen bearish in the main market, which had touched an intraday high 10,697 points.
The Gulf retail investors were also seen net sellers, albeit at lower levels, in the main bourse, whose year-to-date losses widened to 0.41%.
However, the Gulf institutions were seen increasingly into net buying in the main bourse, whose capitalisation grew QR0.81bn or 0.13% to QR630.99bn, mainly on account of microcap segments.
The Arab individuals were also increasingly net buyers in the main market, which saw a total of 1.79mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR4.22mn changed hands across 88 deals.
Four of the seven sectors experienced buying support in the main bourse, which saw no trading of sovereign bonds.
The Islamic index made gains vis-à-vis declines in the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index declined 0.13% and All Share Index by 0.07%, while Al Rayan Islamic Index (Price) rose 0.13% in the main bourse, whose trade turnover and volumes were on the higher side.
The industrials sector index shed 0.58%, banks and financial services (0.29%) and consumer goods and services (0.01%); while real estate gained 3.18%, transport (0.74%), insurance (0.58%) and telecom (0.17%).
Major shakers in the main market included Qatar Oman Investment, Alijarah Holding, Al Khaleej Takaful, Estithmar Holding, Qatari German Medical Devices, Lesha Bank, Aamal Company and Vodafone Qatar. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
Nevertheless, QLM, Beema, United Development Company, Ezdan, Dlala, Mekdam Holding, Qamco and Mazaya Qatar were among the gainers in the main market.
The domestic institutions’ net selling increased substantially to QR42.61mn compared to QR0.06mn on May 21.
The foreign funds turned net sellers to the tune of QR27.3mn against net buyers of QR1.41mn the previous day.
The foreign individuals were net sellers to the extent of QR3.38mn compared with net buyers of QR1.12mn on Sunday.
The Gulf retail investors were net profit takers to the tune of QR0.85mn against net buyers of QR2.36mn on May 21.
However, the Qatari individuals turned net buyers to the extent of QR37.11mn compared with net sellers of QR17.65mn the previous day.
The Gulf institutions’ net buying strengthened considerably to QR28.98mn against QR6.49mn on Sunday.
The Arab individual investors’ net buying increased perceptibly to QR8.05mn compared to QR6.25mn on May 21.
The Arab institutions had no major net exposure against net buyers to the tune of QR0.1mn the previous day.
The main market saw a 3% increase in trade volumes to 457.62mn shares, 19% in value to QR853.88mn and 47% in deals to 25,699.