QSE rebounds with 24 points gain amid marginal fall in capitalisation

The Qatar Stock Exchange yesterday gained about 24 points, mainly on the back of buying interests from the Gulf funds and local retail investors.
The industrials, real estate and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.2% higher at 12,084.65 points, recovering from an intraday low of 11,958 points.
The Arab institutions were seen bullish, albeit at lower levels, in the market, whose year-to-date gains were at 3.95%.
More than 67% of the traded constituents extended gains in the bourse, whose capitalisation nevertheless saw QR53bn or 0.08% decrease to QR672.06bn, mainly on the back of microcap segments.
The Islamic index was seen gaining faster than the other indices in the market, where the industrials and banking sectors together constituted about 71% of the total trading volume.
The domestic funds’ weakened net selling also had its influence in the bourse, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.2mn changed hands across 19 deals.
However, the foreign institutions turned net sellers in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the decline in the bourse, which saw no trading of treasury bills.
The Total Return Index was up 0.2% to 24,573.28 points, the All Share Index by 0.02% to 3,865.35 points and the Al Rayan Islamic Index (Price) by 0.34% to 2,634.87 points.
The industrials sector index shot up 1.14%, realty (0.93%), consumer goods and services (0.52%) and telecom (0.09%); while banks and financial services declined 0.5%, insurance (0.3%) and transport (0.27%).
Major gainers in the main market included Al Meera, Mesaieed Petrochemical Holding, Alijarah Holding, Commercial Bank, Qamco, Inma Holding, Salam International Investment, Industries Qatar, QLM, Qatari Investors Group, Barwa and Mazaya Qatar.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value.
Nevertheless, Ahlibank Qatar, QIIB, Qatar Islamic Insurance, Milaha, QNB, Widam and Doha Insurance were among the losers in the main market.
The Gulf institutions were net buyers to the tune of QR17.58mn compared with net sellers of QR4.73mn on July 6.
The Qatari individuals’ net buying increased noticeably to QR15.58mn against QR9.71mn on Wednesday.
The Arab institutions turned net buyers to the extent of QR0.89mn compared with net sellers of QR0.1mn the previous day.
The domestic funds’ net selling declined considerably to QR15.62mn against QR34.6mn on July 6.
The Arab individuals’ net profit booking also fell markedly to QR2.99mn compared to QR4.74mn on Wednesday.
However, the foreign funds were net sellers to the tune of QR15.44mn against net buyers of QR31.98mn the previous day.
The Gulf individuals turned net sellers to the extent of QR0.98mn compared with net buyers of QR0.6mn on July 6.
The foreign individuals’ net buying shrank perceptibly to QR0.99mn against QR1.9mn on Wednesday.
Total trade volume in the main market fell 12% to 104.52mn shares, value by 10% to QR376.92mn and transactions by 11% to 13,700.
In the venture market, trade volumes plummeted 30% to 0.14mn stocks, value by 37.96% to QR0.67mn and deals by 36.84% to 60.