Qatar bourse edges higher despite profit-booking by institutionals

By Santhosh V Perumal/Business Reporter

The Qatar Exchange (QE) yesterday returned to positive turf despite profit-booking by domestic and foreign institutions.

Industrial as well as banking stocks particularly lifted the 20-stock QE Index (based on price data) by 0.25% to 8,533.32 points.

Local retail investors were seen reducing their exposure in the market, which is up 2.09% year-to-date (YTD).

Industrials, transport, telecom, consumer goods and banking sectors outperformed the index by gaining 8.71%, 7.79%, 7.77%, 6.50% and 4.63% YTD respectively. The real estate index plunged 4.99% and insurance by 0.39%.

Major gainers included QNB, Industries Qatar (IQ), Qatari Investors Group and Nakilat; even as Barwa, United Development Company, Ooredoo and Milaha bucked the trend.

The 20-stock Total Return Index also rose 0.25% to 11,918.27 points, the All Share Index (comprising wider constituents) by 0.18% to 2,124.81 points and the Al Rayan Islamic Index by 0.42% to 2,555.70 points.

All the three indices factored in dividend income as well.

Under the All Share Index category, the industrials index expanded 0.61%, followed by banks and financial services (0.48%) and consumer goods (0.18%); while insurance tanked 1.44%, telecom 1.33%, transport 0.68% and realty fell 0.39%.

Market capitalisation rose 0.45%, or more than QR2bn, to QR468.79bn with large and mid cap equities gaining 0.47% and 0.15% respectively. Small caps fell 0.52%.

Large and mid cap equities have gained 2.34% and 0.41% YTD, while micro and small caps lost 4.29% and 2.83% respectively.

Of the 42 stocks, only 15 advanced, while 17 declined, six were unchanged and four were not traded.

Foreign institutions’ net buying sunk to 5.15% or QR14.35mn. A lower 45.64% of them bought equities against 47.95% on Tuesday, whereas a much higher 40.49% offloaded compared to 34.20%.

Domestic institutions turned net sellers to the tune of 7.42% or QR20.68mn. A higher 13.73% of them were into buying against 10.12% the previous day, but a much higher 21.15% of them into selling compared to 8.98%.

Qatari individual investors’ net profit-taking plunged to 1.77% or QR4.93mn. A lower 24.32% of them purchased equities against 30.28% on Tuesday, but a much lower 26.09% sold compared to 47.32%.

Non-Qatari individual investors’ net buying rose to 4.04% or QR11.26mn. A higher 16.31% of them bought equities against 11.65% the previous day and a higher 12.27% sold compared to 9.51%.

Total trading volume shrank 49% to 5.95mn shares, value by 45% to QR278.70mn and deals by 39% to 2,612.

The real estate sector’s trading volume plummeted 75% to 1.64mn shares, value by 75% to QR38.68mn and transactions by 55% to 627.

The consumer goods and services sector’s trading volume plunged 50% to 0.12mn shares, value by 89% to QR4.44mn and deals by 75% to 138.

The banks and financial services sector’s trading volume tanked 27% to 1.44mn shares, value by 20% to QR71.54mn and transactions by 32% to 794.

The industrials sector’s trading volume declined 19% to 1.11mn shares, value by 27% to QR128.32mn and deals by 16% to 471.

The telecom sector’s trading volume was down 5% to 0.39mn shares, value by 66% to QR5.35mn and transactions by 31% to 115.

However, the transport sector’s trading volume gained 12% to 1.14mn shares and value by 10% to QR24.66mn but deals were down 16% to 341.

The insurance sector’s trading volume rose 10% to 0.11mn shares, value by 16% to QR5.71mn and transactions doubled to 126.

Actively traded stocks (in terms of volume) were Barwa (1.41mn shares); Nakilat (1.04mn); IQ (661,277); Doha Bank (431,827) and Vodafone Qatar (373,230).

In the debt market, there was no trading of treasury bills.