Qatar shares edge up on bullish Gulf funds, local retail investors
May 16 2019 07:14 PM

The Qatar Stock Exchange on Thursday witnessed intermittent gyrations, with it breaking 9,900 levels twice intraday, but overall it settled below that level.

The real estate, insurance and transport counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.08% higher at 9,871.87 points.

The Gulf funds and local retail investors were seen bullish in the market, whose sensitive index is nevertheless down 4.15% year-to-date.

Market capitalisation gained QR29bn, or 0.05%, to QR549.66bn mainly owing to microcap segments.

Islamic equities were seen gaining slower than the main index in the market, where local retail investors were increasingly net sellers.

Trade turnover and volumes were on the decline in the bourse, where the industrials, real estate and banking sectors together accounted for more than 86% of the total volume.

The Total Return Index was up 0.08% to 18,165.08 points, the Al Rayan Islamic Index (Price) by 0.03% to 2,282.64 points and the All Share Index by 0.15% to 2,966.94 points.

The realty index gained 1.91%, insurance (0.36%), transport (01.3%) and consumer goods (0.04%); while industrials fell 0.3%, telecom (0.27%) and banks and financial services (0.05%).

More than 51% of the traded constituents extended gains with major movers being Ezdan, Barwa, Qatar General Insurance and Reinsurance, Al Khaleej Takaful, Doha Bank, Aamal Company, Mesaieed Petrochemical Holding and Nakilat; even as Industries Qatar, Gulf International Services, Qatari Investors Group, Qatar National Cement, Gulf Warehousing, QIIB and Vodafone Qatar were among the losers.

Local retail investors turned net buyers to the tune of QR2.72mn compared with net sellers of QR14.88mn on Wednesday.

The Gulf institutions were also net buyers to the extent of QR2.29mn against net profit takers of QR0.55mn on May 16.

Non-Qatari individuals’ net selling declined noticeably to QR1.28mn compared to QR2.51mn the previous day.

However, non-Qatari institutions’ net profit booking grew perceptibly to QR27.81mn against QR23.45mn on Wednesday.

The Gulf individuals turned net sellers to the tune of QR0.08mn compared with net buyers of QR0.23mn on May 16.

Domestic institutions’ net profit booking declined significantly to QR24.2mn against QR41.16mn the previous day.

Total trade volume fell 32% to 16.74mn shares, value by 15% to QR388.47mn and transactions by 2% to 9,688.

The consumer goods sector’s trade volume plummeted 71% to 0.86mn equities, value by 16% to QR58.65mn and deals by 25% to 679.

The telecom sector reported a 61% plunge in trade volume to 0.84mn stocks, 40% in value to QR11.32mn and 3% in transactions to 539.

The insurance sector’s trade volume tanked 43% to 0.12mn shares, value by 37% to QR3.9mn and deals by 4% to 225.

The banks and financial services sector saw a 40% shrinkage in trade volume to 2.97mn equities, 13% in value to QR112.7mn and 20% in transactions to 2,040.

The industrials sector’s trade volume shrank 26% to 6.6mn stocks, value by 19% to QR138.03mn and deals by 14% to 3,224.

There was a a 7% fall in the realty sector’s trade volume to 4.87mn shares and 4% in value to QR52.37mn.

However, the transport sector’s trade volume soared 75% to 0.49mn equities, value by 70% to QR11.5mn and deals by 61% to 395.

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

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