QSE closes flat despite buying support from foreign retailers

The Qatar Stock Exchange on Thursday largely remained flat despite buying support from foreign retail investors and lower selling pressure from domestic and Gulf institutions.
Buying interests in real estate and banking counters was to a great extent contained by selling pressure in consumer goods, transport and industrials as the 20-stock Qatar Index edged up a mere 0.07% to 10,386.44 points, even as global oil prices fell after hitting a three-month high this week.
There were also weakened buying interests from local retail investors and foreign institutions in the bourse, which is down 0.41% year-to-date.
Gulf individual investors were seen bearish in the market, where trading turnover and volumes were however on the rise.
The index that tracks Shariah-principled stocks was seen flat compared to marginal rise in the other indices in the market, where realty, banking and industrials stocks together accounted for more than 78% of the total trading volume.
Market capitalisation was down 0.08%, or QR45mn, to QR545.21bn.
The Total Return Index was up 0.07% to 16,522.67 points and the All Share Index by 0.06% to 2,809.65 points; while the Al Rayan Islamic Index was unchanged at 3,877.79 points.
Real estate stocks gained 0.52% and banks and financial services 0.13%, whereas consumer goods fell 0.4%, followed by transport (0.22%), insurance (0.19%), industrials (0.15%) and telecom (0.02%).
Major losers included QNB, QIIB, Gulf International Services, Mazaya Qatar, Ezdan, Vodafone Qatar, Dlala and Qatari German Company for Medical Devices; even as Industries Qatar, Mesaieed Petrochemical Holding, Aamal Company, Barwa, Ooredoo, Gulf Warehousing, Commercial Bank, Doha Bank and Masraf Al Rayan bucked the trend.
Non-Qatari individual investors’ net buying strengthened to QR9.48mn compared to QR4.23mn on March 9.
Domestic institutions’ net profit-booking plummeted to QR9.78mn against QR25.96mn the previous day.
GCC (Gulf Cooperation Council) institutions’ net selling also weakened to QR9.18mn compared to QR26.64mn on Wednesday.
Non-Qatari institutions’ net buying declined substantially to QR6.05mn against QR32.77mn on March 9.
Local retail investors’ net buying also shrank to QR3.71mn compared to QR13.45mn the previous day.
GCC individuals turned net sellers to the tune of QR0.27mn against net buyers of QR2.16mn on Wednesday.
Total trade volume rose 24% to 9.35mn shares, value by 7% to QR303.87mn and deals by 30% to 4,969.
The real estate sector saw a 57% surge in trade volume to 2.76mn equities, 34% in value to QR62.89mn and 48% in transactions to 886.
The consumer goods sector’s trade volume soared 53% to 1.12mn stocks, value by 40% to QR28.48mn and deals by 29% to 562.
The market witnessed a 50% increase in the transport sector’s trade volume to 0.3mn shares; even as value was down 5% to QR9.47mn. Transactions gained 35% to 124.
The banks and financial services sector’s trade volume expanded 39% to 2.41mn equities, value by 18% to QR110.81mn and deals by 51% to 1,696.
However, there was a 24% plunge in the telecom sector’s trade volume to 0.55mn stocks, 62% in value to QR10.16mn and 37% in transactions to 334.
The insurance sector’s trade volume tanked 13% to 0.07mn shares, value by 33% to QR3.37mn and deals by 41% to 67.
The industrials sector reported a 7% decline in trade volume to 2.14mn equities and 2% in value to QR78.69mn but on 41% expansion in transactions to 1,300.
In the debt market, there was no trading of treasury bills and government bonds.