Business Reporter

 

 

 

The Qatar Stock Exchange yesterday witnessed increased buying interests from the foreign and Gulf institutions, even as it continued to tread a flat path for the second straight session.
The banking and transport counters witnessed higher than average demand as the 20-stock Qatar Index settled mere 0.04% higher at 10,920.42 points, having recovered from an intraday low of 10,876 points.
The foreign individuals’ net selling pressure weakened considerably in the market, whose year-to-date gains were at 4.64%.
The Gulf individuals were increasingly net buyers in the bourse, whose capitalisation saw QR85mn or 0.13% increase to QR635.94bn mainly due to microcap segments. However, local retail investors were increasingly net sellers in the market, which saw the industrials, banking and consumer goods sectors together constitute about 85% of the total trading volume.
The overall trade turnover and volumes were on the increase in the bourse, where the domestic funds were increasingly net profit takers.
The Islamic index was seen declining vis-à-vis gains in the other indices in the market, which saw a total of 57,214 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR525,194 change hands across seven deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index was up 0.04% to 21,617.62points and All Share Index by 0.16% to 3,484.2 points, while Al Rayan Islamic Index (Price) declined 0.45% to 2,485.26 points.
The banks and financial services sector index expanded 0.74% and transport 0.11%; whereas consumer goods and services shrank 0.99%, real estate (0.73%), insurance (0.52%), industrials (0.48%) and telecom (0.47%).
Major gainers included Mannai Corporation, Gulf International Services, QLM, Doha Bank, Qatar Islamic Bank, QNB and Milaha.
Nevertheless, more than 70% of the traded constituents were in the red with major losers being Baladna, Investment Holding Group, Qatar Oman Investment, Qatar First Bank, Al Khaleej Takaful, Commercial Bank, Alijarah Holding, Inma Holding, Qatari German Medical Devices, Widam Food, Al Meera, Qatar Electricity and Water, Aamal Company, Qamco and Mazaya Qatar.
Foreign funds’ net buying increased substantially to QR47.89mn compared to QR30.05mn on August 11.
The Gulf funds’ net buying strengthened considerably to QR13.53mn against QR4.74mn on Wednesday.
The Gulf individuals’ net buying grew notably to QR0.33mn compared to QR0.07mn the previous day.
The foreign individuals’ net selling fell drastically to QR7.35mn against QR26.95mn on August 11.
However, Qatari individuals’ net selling grew significantly to QR37.22mn compared to QR17.55mn on Wednesday.
The domestic funds’ net profit booking rose noticeably to QR12.79mn against QR1.75mn the previous day.
The Arab individuals turned net sellers to the tune of QR4.14mn compared with net buyers of QR11.38mn on August 11.
The Arab institutions were net profit takers to the extent of QR0.19mn against no major net exposure for the last nine sessions. Total trade volume rose 14% to 210.1mn shares, value by 24% to QR495.56mn and transactions by 3% to 10,186. The real estate sector’s trade volume more than doubled to 25.6mn equities and value almost doubled to QR33.89mn on 25% increase in deals to 761.
The banks and financial services sector saw 76% surge in trade volume to 42.56mn stocks, 27% in value to QR192.04mn and 7% in transactions to 4,079.
The transport sector’s trade volume soared 65% to 2.94mn shares, value by 70% to QR10.12mn and deals by 20% to 422.
The market witnessed 24% expansion in the consumer goods and services sector’s trade volume to 40.94mn equities, 24% in value to QR64.11mn and 15% in transactions to 1,431.
The telecom sector’s trade volume was up 1% to 2.16mn stocks and value by 23% to QR7.55mn, whereas deals shrank 23% 276.
However, there was 38% plunge in the insurance’s trade volume to 1.22mn shares, 9% in value to QR5.36mn and 35% in transactions to 148.
The industrials sector’s trade volume tanked 13% to 94.67mn equities, while value shot up 13% to QR177.49mn despite 8% lower deals at 3,069.