QSE gains on domestic funds’ increased buying interests
May 10 2020 08:01 PM
QSE

The Qatar Stock Exchange on Sunday opened the week on a stronger note with its key index gaining 108 points to surpass 8,900 levels with an ease, mainly lifted by real estate and industrials equities.

Domestic funds’ increased buying interests were instrumental in the 20-stock Qatar Index gain 1.22% to 8,907.03 points, reflecting the rising optimism on account of Friday’s oil price gains.

The bullish outlook of the Arab and foreign individuals also had its share in lifting the sentiments on the bourse, whose year-to-date losses were trimmed at 14.57%.

Market capitalisation saw about QR5bn or 0.92% increase to QR504.19bn mainly owing to mid and small cap segments.

Islamic stocks were seen gaining faster than the other indices on the market, where local retail investors were increasingly net sellers and foreign funds turned bearish.

Trade turnover and volumes were on the decline on the market, where the real estate and industrials sectors together accounted for about 72% of the total trading volume.

The Total Return Index gained 1.22% to 17,123.48 points, All Share Index by 0.85% to 2,759.03 points and Al Rayan Islamic Index (Price) by 1.87% to 1,994.56 points.

The real estate index shot up 3.46%, industrials (3.34%), consumer goods and services (0.53%), telecom (0.42%), insurance (0.29%) and banks and financial services (0.1%); whereas transport declined 0.15%.

More than 64% of the traded constituents extended gains with major movers being United Development Company, Mazaya Qatar, Industries Qatar, Mesaieed Petrochemical Holding, Qatari Investors Group, Medicare Group, Commercial Bank, QIIB, Qatar Oman Investment, Qatar Electricity and Water, Qatar Islamic Insurance and Vodafone Qatar; even as Qatar First Bank, al khaliji, Dlala, Gulf Warehousing and Qatar German Company for Medical Devices were among the losers.

Domestic funds’ net buying increased influentially to QR25.7mn compared to QR19.56mn the previous trading day.

The Arab individuals turned net buyers to the tune of QR5.35mn against net sellers of QR0.9mn last Thursday.

Foreign individuals were net buyers to the extent of QR5.27mn compared with net sellers of QR2.59mn on May 7.

The Gulf individuals turned net buyers to the tune of QR0.25mn against net sellers of QR4.61mn the previous trading day.

The Gulf institutions’ net profit booking declined noticeably to QR0.96mn compared to QR1.06mn last Thursday.

However, local retail investors’ net selling grew considerably to QR28.81mn against QR15.25mn on May 7.

The Arab funds were net sellers to the extent of QR3.57mn compared with no major exposure the previous trading day.

Foreign institutions also turned net sellers to the tune of QR3.25mn against net buyers of QR4.77mn last Thursday.

Total trade volumes fell 36% to 136.75mn shares, value by 37% to QR208.28mn and transactions by 47% to 5,435.

The transport sector’s trade volume plummeted 93% to 4.94mn equities, value by 30% to QR14.17mn and deals by 68% to 280.

The consumer goods and services sector reported 61% plunge in trade volume to 12.22mn stocks, 43% in value to QR24.93mn and 56% in transactions to 521.

The industrials sector’s trade volume tanked 39% to 42.61mn shares, value by 28% to QR62.96mn and deals by 36% to 1,715.

The banks and financial services sector saw 31% shrinkage in trade volume to 15.19mn equities, 66% in value to QR30.13mn and 55% in transactions to 1,330.

The real estate sector’s trade volume declined 28% to 55.49mn stocks, value by 15% to QR62.55mn and deals by 30% to 1,230.

There was 22% contraction in the telecom sector’s trade volume to 2.24mn shares, 38% in value to QR4.98mn and 65% in transactions to 212.

The insurance sector’s trade volume was down 16% to 4.06mn equities, value by 8% to QR8.56mn and deals by 24% to 147.

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




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