Qatar Stock Exchange has excelled this year with it emerging as one of the strongest bourses in the world; year-to-date, its gains are up 16% on dollar terms and more than 15% on riyal terms.
The market has seen investor confidence building up locally, regionally and internationally on the back of attractive valuations, a senior official of a leading investment company said, adding the improving oil price and the government’s continued budget spending act have rather improved sentiments.
The economy started picking up after the embargo and exceeded all expectations in the first quarter of 2018, he said, referring to the government assurance that it will continue ahead with its normal spending, especially for the World Cup event in 2022.
On a day-to-day basis, the bourse was marginally down 0.09% for the third straight session, mainly led by transport, industrials and consumer goods equities.
Local and non-Qatari retail investors turned bearish and there was increased net selling by domestic funds as the 20-stock Qatar Index settled at 9,823.53 points.
Doha Bank sponsored exchange traded fund QATR was down 0.1%; whereas Masraf Al Rayan sponsored QETF was rather unchanged.
The Islamic equities were seen declining faster than the other indices in the market.
Trade turnover and volumes were on the rise in the bourse, where banking, industrials, telecom and real estate sectors together accounted for more than 87% of the total volume.
The Total Return Index fell 0.09% to 17,307.97 points and Al Rayan Islamic Index (Price) by 0.24% to 2,357.97 points, while All Share Index gained 0.06% to 2,874.87 points.
The transport index shrank 0.82%, industrials (0.69%), consumer goods (0.62%) and telecom (0.17%); whereas insurance gained 1.89%, banks and financial services (0.36%) and realty (0.27%).
About 53% of the traded stocks were in the red with major losers being Industries Qatar, Gulf Warehousing, Milaha, Qatari German Company for Medical Devices, Medicare Group, Qatari Investors Group and United Development Company; while Qatar Insurance, Commercial Bank, Masraf Al Rayan, QNB, Dlala, Doha Insurance and Barwa were among the gainers.
Domestic institutions’ net profit booking increased considerably to QR39.97mn compared to QR25.02mn the previous day.
Local individual investors turned net sellers to the tune of QR21.6mn against net buyers of QR27.66mn on September 17.
Non-Qatari individuals were also net sellers to the extent of QR1.08mn compared with net buyers of QR3.22mn on Monday.
The Gulf individuals’ net profit booking strengthened perceptibly to QR0.83mn against QR0.16mn the previous day.
However, non-Qatari institutions’ net buying expanded significantly to QR63.03mn compared to QR23.17mn on September 17.
The Gulf institutions turned net buyers to the tune of QR0.42mn against net profit takers of QR28.87mn on Monday.
Total trade volume rose 4% to 5.84mn shares, value by 16% to QR211.94mn and transactions by 2% to 3,208.
The industrials sector’s trade volume soared 33% to 1.21mn equities, value by 48% to QR45.06mn and deals by 15% to 872.
The banks and financial services sector saw 20% surge in trade volume to 1.76mn stocks, 48% in value to QR88.91mn and 14% in transactions to 971.
The real estate sector’s trade volume was up 5% to 1.02mn shares; while value shrank 18% to QR22.95mn and deals by 20% to 465.
However, there was 25% plunge in the consumer goods sector’s trade volume to 0.21mn equities, 30% in value to QR19.88mn and 41% in transactions to 202.
The transport sector’s trade volume plummeted 24% to 0.16mn stocks, while value was up 1% to QR5.31mn despite 9% lower deals at 183.
The insurance sector reported 20% shrinkage in trade volume to 0.37mn shares and 18% in value to QR13.72mn but on 20% jump in transactions to 167.
The telecom sector’s trade volume tanked 13% to 1.11mn equities, whereas value grew 14% to QR16.11mn and deals by 37% to 348.
In the debt market, there was no trading of treasury bills and sovereign bonds.
