Local retail investors, Arab funds remain bullish on QSE
April 13 2021 06:38 PM

The Qatar Stock Exchange on Tuesday witnessed strong buying interests from domestic funds even as it settled 20 points lower to close below the 10,500 levels.

Notwithstanding the bullish outlook of the local retail investors and the Arab funds, the 20-stock Qatar Index declined 0.19% to 10,480.23 points, having touched an intraday high of 10,512 points.

There was weakened net selling from the foreign and Arab individuals in the bourse, whose year-to-date gains were at 0.43%.

The Islamic index was seen easing slower than the other indices in the market whose capitalisation saw QR17mn or 0.03% gain to QR614.34bn, mainly owing to microcap segments.

Three of the seven sectors experienced selling pressure in the bourse, where the foreign institutions were increasingly bearish.

The Gulf funds continued to be net buyer but with lesser intensity in the bourse, which saw a total of 225,948 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR776,954mn changed hands across 27 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.

About 56% of the traded constituents were in the red with major losers being Zad Holding, Qatar Islamic Bank, Qatar Industrial Manufacturing, Qamco, Ooredoo, Qatari German Medical Devices, Gulf International Services and QLM; even as Al Khaleej Takaful, Ezdan, Investment Holding Group, Dlala, Milaha, Baladna and Vodafone Qatar were among the gainers.

The Total Return Index shed 0.19% to 20,739.26 points, All Share Index by 0.16% to 3,336.78 points and Al Rayan Islamic Index (Price) by 0.1% to 2,431.72 points.

The telecom sector index shrank 0.61%, banks and financial services (0.38%) and consumer goods and services (0.37%); whereas insurance gained 0.82%, real estate (0.39%), transport (0.3%) and industrials (0.11%).

The foreign institutions’ net selling grew considerably to QR26.25mn compared to QR9.46mn on April 12.

The Gulf individuals’ net profit booking shot up perceptibly to QR13.97mn against QR6.08mn the previous day.

The Gulf funds’ net buying declined notably to QR17.02mn compared to QR29.49mn on Monday.

However, the domestic funds’ net buying rose substantially to QR15.19mn against QR3.18mn on April 12.

Local retail investors turned net buyers to the tune of QR9.5mn compared with net sellers of QR11.4mn the previous day.

The Arab funds were net buyers to the extent of QR1.63mn against net sellers of QR0.04mn on Monday.

The foreign individuals’ net selling weakened perceptibly to QR2.29mn compared to QR3.66mn on April 12.

The Arab individuals’ net profit booking shrank markedly to QR0.84mn against QR2.14mn the previous day.

Total trade volume fell 54% to 179.19mn shares, value by 45% to QR381.58mn and transactions by 36% to 8,474.

The banks and financial services sector’s trade volume plummeted 68% to 21.34mn equities, value by 42% to QR120.52mn and deals by 31% to 2,870.

The industrials sector reported 67% plunge in trade volume to 66.42mn stocks, 67% in value to QR98.15mn and 56% in transactions to 2,105.

The transport sector’s trade volume tanked 55% to 1.18mn shares, value by 68% to QR3.95mn and deals by 53% to 216.

There was 41% shrinkage in the consumer goods and services sector’s trade volume to 45.78mn equities, 25% in value to QR69.12mn and 22% in transactions to 1,468.

The telecom sector’s trade volume shrank 40% to 4.9mn stocks, value by 25% to QR12.96mn and deals by 7% to 410.

The real estate sector saw 2% dip in trade volume to 33.47mn shares, 9% in value to QR54.86mn and 21% in transactions to 1,119.

However, the insurance sector’s trade volume almost tripled to 6.11mn equities and value more than tripled to QR21.67mn on 73% jump in deals to 286.

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