The Qatar Stock Exchange Thursday witnessed strong buying interests from the domestic funds and local retail investors, even as it continued to be in the negative turf for the third straight session.
The increased buying support from the Gulf institutions and individuals notwithstanding, the 20-stock Qatar Index settled about 39 points ,or 0.36% lower at 10,743.45 points, recovering from an intraday low of 10,676 points.
Foreign institutions were seen net profit takers in the market, whose year-to-date gains were truncated to 2.95%.
The telecom, banking, transport and insurance counters witnessed higher than average selling pressure in the bourse, whose capitalisation saw more than QR3bn, or 0.51%, erosion to QR623.87n, mainly owing to small and microcap segments.
About 58% of the traded constituents were in the red in the market, which saw the industrials sector alone constitute more than 44% of the total trading volume.
The overall trade turnover and volumes were on the increase in the bourse, where the Islamic equities were seen declining slower than the other indices.
The Arab individuals were seen bearish, albeit at lower levels, in the market, which saw a total of 3.98mn exchange traded funds (Masraf Al Rayan-sponsored QATR and Doha Bank-sponsored QETF) valued at QR10.45mn change hands across 98 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index fell 0.36% to 21,267.31 points, the All Share Index by 0.4% to 3,408.97points and the Al Rayan Islamic Index (Price) by 0.09% to 2,491.39 points.
The telecom sector index shrank 1.35%, banks and financial services (0.74%), real estate (0.6%) and insurance (0.42%); while consumer goods and services gained 0.64%, industrials (0.17%) and transport (0.01%).
Major losers included Ooredoo, Qatar Islamic Bank, Ezdan, Mazaya Qatar, Commercial Bank, Al Khaleej Takaful, Qatar Islamic Insurance, QLM, Inma Holding, Mesaieed Petrochemical Holding and Dlala; even as Investment Holding Group, Qatar Cinema and Film, Qatar Electricity and Water, Woqod and Al Meera were among the gainers.
Foreign funds turned net sellers to the tune of QR128.74mn compared with net buyers of QR21.03mn on June 16.
The Arab individuals were net sellers to the extent of QR0.46mn against net buyers of QR4.57mn on Wednesday.
The foreign individuals’ net buying eased marginally to QR3.17mn compared to QR3.79mn the previous day.
However, domestic funds were net buyers to the tune of QR71.47mn against net sellers of QR41.83mn on June 16.
Qatari individuals’ net buying shot up considerably to QR37.89mn compared to QR2.75mn on Wednesday.
The Gulf funds’ net buying increased noticeably to QR12.92mn against QR8.93mn the previous day.
The Gulf individuals’ net buying also rose markedly to QR3.74mn compared to QR0.76mn on June 16.
The Arab institutions continued to have no major net exposure for the fourth consecutive day.
Total trade volume rose 42% to 218.6mn shares and value more than doubled to QR922.47mn on a 23% rise in transactions to 12,542.
The transport sector’s trade volume more than quadrupled to 12.07mn equities and value also more than quadrupled to QR51.55mn on a 76% increase in deals to 767.
The industrials sector’s trade volume soared 80% to 96.68mn stocks and value more than tripled to QR439.07mn on a 62% jump in transactions to 6,543.
The market witnessed a 28% surge in the consumer goods and services sector’s trade volume to 33.44mn shares, 91% in value to QR71.66mn and 49% in deals to 1,303.
The real estate sector’s trade volume shot up 17% to 25.25mn equities, value by 38% to QR43.51mn and transactions by 47% to 1,117.
There was a 10% expansion in the telecom sector’s trade volume to 10.91mn stocks but on a 15% shrinkage in value to QR37.54mn and 17% in deals to 1,022.
The banks and financial services sector’s trade volume was up 7% to 36.82mn shares and value by 91% to QR265.11mn; whereas transactions were down 2% to 3,482.
However, the insurance sector reported a 38% contraction in trade volume to 3.43mn equities, 41% in value to QR14.03mn and 41% in deals to 308.
QSE
