Foreign institutions weigh on QSE; telecom and industrials see higher selling pressure

Ahead of the US Federal Reserve meeting later this week, the Qatar Stock Exchange (QSE) Monday fell about 32 points on the back of foreign institutions’ selloff.

The telecom and industrials counters witnessed higher than average selling pressure as the 20-stock Qatar Index shed 0.29% to 11,099.97 points, although it touched an intraday high of 11,142 points.

The domestic institutions continued to be bearish but with lesser vigour in the main market, whose year-to-date gains truncated to 5%.

The Arab retail investors’ weakened net buying had its influence on the main bourse, whose capitalisation eased QR0.55bn or 0.08% to QR663.86bn, mainly on microcap segments.

The Gulf institutions were seen increasingly net buyers in the main market, which saw as many as 8,091 exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.08mn trade across 12 deals.

The foreign individuals turned bullish in the main bourse, whose trade turnover and volumes were on the increase.

The Islamic index was seen declining faster than the other indices of the main market, which saw no trading of treasury bills.

The local retail investors were seen net buyers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index shed 0.29%, the All Share Index by 0.13% and the All Islamic Index by 0.48% in the main market.

The telecom sector index tanked 1.08%, industrials (0.93%), consumer goods and services (0.28%), real estate (0.11%) and transport (0.04%); while insurance gained 0.61% and banks and financial services 0.21%.

As many as 25 stocks gained, while 23 declined and five were unchanged.

Major losers in the main market included Industries Qatar, Vodafone Qatar, Ooredoo, Qatar General Insurance and Reinsurance, Woqod, Qamco and Barwa.

In the juniour bourse, Techno Q saw its shares depreciate in value.

Nevertheless, Ezdan, Estithmar Holding, Widam Food, Qatar Insurance, Baladna, Mazaya Qatar and Gulf Warehousing were among the gainers in the main market.

The foreign institutions turned net sellers to the tune of QR7.79mn compared with net buyers of QR11.08mn on Sunday.

The Arab individual investors’ net buying declined noticeably to QR5.29mn against QR9.7mn the previous day.

The Arab institutions’ net buying eased marginally to QR0.05mn compared to QR0.06mn on September 14.

However, the Gulf institutions’ net buying strengthened markedly to QR5.08mn compared to QR3.06mn on Sunday.

The foreign individuals turned net buyers to the tune of QR1.33mn against net sellers of QR0.48mn the previous day.

The local retail investors were net buyers to the extent of QR1.22mn compared with net sellers of QR4.79mn on September 14.

The domestic institutions’ net profit booking weakened substantially to QR4.58mn against QR17.68mn on Sunday.

The Gulf individual investors’ net selling shrank marginally to QR0.61mn compared to QR0.95mn the previous day.

The main market saw a 24% jump in trade volumes to 145.08mn shares, 44% in value to QR398.55mn and 28% in deals to 23,142.

In the venture market, a total of 0.67mn equities valued at QR1.72mn changed hands across 69 transactions.