QE snaps 7-day losing run on foreign buying support

The buying support from foreign institutions yesterday lifted the Qatar Exchange after a seven-day bearish spell. Large and micro cap equities witnessed buying interests as the QE Index (based on price data) gained 1.03% to 8,206.91 points. The market is, however, down 6.52% year-to-date.The All Share Index (comprising wider constituents) and the Total Return Index also rose 0.97% and 1.03% to 1,982.23 and 11,106.91 points respectively. Both the indices factored in dividend income as well.More than 69% of the stocks extended gains to investors with major movers being QNB, Commercialbank, al khaliji, Industries Qatar, Qatari Investors Group, Mazaya Qatar, Barwa, Qatar Telecom and Vodafone Qatar.Under the All Share Index category, the telecom index shot up 1.72%, followed by banks and financial services (1.19%), industrials (0.89%), realty (0.68%), insurance (0.65%) and transport (0.10%), while consumer goods fell 0.05%.Market capitalisation expanded 1.04% or about QR5bn to QR450.73bn with large, micro, mid and small cap equities gaining 1.13%, 1.12%, 0.89% and 0.87% respectively.Of the 42 stocks, 29 gained, while only two declined, five were unchanged and six were not traded.Foreign institutions turned bullish as they were net buyers to the tune of 2.98% compared with net sellers of 11.80% the previous trading day. Their net buying amounted to QR4.36mn.A much higher 27.77% of them were into buying against 17.94% last Thursday, whereas a lower 24.79% of them into selling compared to 29.74%.However, domestic institutions turned profit-takers as they were net sellers to the extent of 4.20% against net buyers of 12.04% the previous day. Their net selling was QR6.14mn.A lower 13.96% of them bought equities compared to 17.82% last Thursday, while a higher 18.16% offloaded against 5.78%.Qatari individual investors turned marginally bullish as they were net buyers to the tune of 0.30% against net sellers of 1.36% the previous day. Their net buying amounted to QR1.17mn.A lower 40.91% of them purchased equities compared to 47.06% last Thursday and a lower 40.61% sold against 48.42%.Non-Qatari retail investors continued to be bullish, but with lesser intensity, as their net buying fell to 0.91% from 1.13% the previous day. Their net buying was QR1.33mn.A marginally higher 17.36% of them were into buying against 17.18% last Thursday and a marginally higher 16.45% were into offloading against 16.05%.Total trading volume shrank 23% to 4.60mn equities, value by 12% to QR146.22mn and deals by 11% to 2,637.The industrial sector’s trading volume plummeted 52% to 0.43mn shares, value by 30% to QR32.89mn and transactions by 33% to 432.The banks and financial services sector’s trading volume plunged 40% to 1.68mn shares, whereas value rose 1% to QR63.52mn and deals by 1% to 978.The insurance sector’s trading volume tanked 33% to 0.06mn shares, value by 42% to QR2.60mn and transactions by 7% to 42.The transport sector’s trading volume declined 4% to 0.27mn shares and value by 9% to QR6.29mn but deals rose 6% to 223.The telecom sector’s trading volume was down less than 1% to 0.58mn shares, value by 34% to QR13.59mn and transactions by 32% to 283.However, the real estate sector’s trading volume gained 22% to 1.24mn shares and value by 12% to QR17.95mn while deals were down 6% to 402.The consumer goods and services sector’s trading volume rose 18% to 0.33mn shares, value by 14% to QR9.38mn and transactions by 11% to 277.Actively traded stocks (in terms of volume) were Mazaya Qatar (1.06mn shares); Qatar Oman Investment (645,068); Vodafone Qatar (497,281); Masraf Al Rayan (337,809) and Qatari German Company for Medical Devices (216,666).In the debt market, there was no trading.