Across-the-board buying lifts QSE to near 9,100 levels
June 02 2020 09:03 PM

An across-the-board buying — particularly within industrials, transport and real estate counters — Tuesday lifted the Qatar Stock Exchange to place its key index near 9,100 levels.
Domestic funds were seen bullish as the 20-stock Qatar Index settled 0.53% or 48 points higher at 9,067.28 points, although it touched a low of 9,016 points within 120 minutes of opening.
Local retail investors’ weakened net selling also had its influence on the bourse, whose year-to-date losses were further trimmed to 13.03%.
Market capitalisation saw QR4bn or 0.78% expansion to QR515.37bn mainly owing to mid and small cap segments.
Islamic stocks were seen gaining faster than the main index on the market, where foreign institutions continued to be net buyers but with lesser intensity.
Trade turnover fell amidst higher volumes on the market, where the realty sector alone accounted for more than 48% of the total trading volume.
The Total Return Index gained 0.53% to 17,431.55 points, All Share Index by 0.61% to 2,813.63 points and Al Rayan Islamic Index (Price) by 0.61% to 2,027.9 points.
The industrials index soared 1%, transport (0.99%), real estate (0.63%), banks and financial services (0.59%), telecom (0.26%), consumer goods and services (0.06%) and insurance (0.03%).
More than 52% of the traded constituents extended gains with major movers being Qatar Electricity and Water, Mesaieed Petrochemical Holding, Ezdan. Barwa, Nakilat, QNB, Doha Bank, Alijarah Holding, Qatar Oman Investment and Widam Food; even as Dlala, Mannai Corporation, United Development Company, Mazaya Qatar and Ooredoo were among the losers.
Domestic funds turned net buyers to the tune of QR12.23mn against net sellers of QR37.08mn on June 1.
Local retail investors’ net selling declined considerably to QR39.49mn compared to QR54.31mn on Monday.
The Gulf individuals’ net selling also weakened significantly to QR0.16mn against QR3.66mn the previous day.
The Arab individuals’ net profit booking eased notably to QR1.52mn compared to QR3.96mn on June 1.
However, the Arab funds were net sellers to the extent of QR0.09mn against no major exposure on Monday.
Foreign funds’ net buying weakened substantially to QR22.49mn compared to QR89.97mn the previous day.
The Gulf institutions’ net buying decreased perceptibly to QR5.67mn against QR7.62mn on June 1.
Foreign individuals’ net buying also shrank influentially to QR0.89mn compared to QR1.42mn on Monday.
Total trade volumes grew 22% to 235.53mn shares, while value fell 12% to QR446.27mn and transactions by 50% to 10,531.
The telecom sector’s trade volume almost quadrupled to 13.98mn equities, value more than doubled to QR32.07mn and deals also more than doubled to 1,669.
The transport sector’s trade volume doubled to 22.99mn stocks and value more than doubled to QR59.71mn on 26% increase in transactions to 1,323.
The real estate sector’s trade volume soared 93% to 114.22mn shares and value by 42% to QR94.7mn, whereas deals shank 43% to 1,322.
There was 37% surge in the consumer goods and services sector’s trade volume to 14.95mn equities and 7% in value to QR50.28mn but on 36% decline in transactions to 933.
However, the insurance sector’s trade volume plummeted 84% to 2.68mn stocks, value by 83% to QR5.78mn and deals by 90% to 207.
The banks and financial services sector saw 32% plunge in trade volume to 29mn shares, 40% in value to QR147.33mn and 68% in transactions to 3,235.
The industrials sector’s trade volume tanked 22% to 37.7mn equities, value by 25% to QR56.4mn and deals by 44% to 1,842.
In the debt market, there was no trading of sovereign bonds and treasury bills.

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