Arab individuals, Gulf funds turn bullish on QSE

The Qatar Stock Exchange Sunday witnessed local and Arab individuals as well as the Gulf funds turn bullish even as it settled 34 points lower.

Foreign funds continued to net buyers but with lesser intensity as the 20-stock Qatar Index declined 0.31% to 10,730.61 points, ending three consecutive days of gains. The index had touched an intraday high of 10,778 points.

The consumer goods, real estate and insurance counters witnessed higher than average selling pressure in the market, whose year-to-date gains were at 2.82%.

Five of the seven sectors were in the red in the bourse, whose capitalisation saw QR22mn or 0.04% decrease to QR623.97bn, mainly owing to microcap segments.

The domestic institutions were increasingly into net selling in the market, which saw the industrials and the realty sectors together constituted more than 52% of the total trading volume.

The overall trade turnover and volumes were on the decline in the market, where the foreign retail investors turned net profit takers.

The Gulf individuals were increasingly into net selling in the bourse, which saw a total of 1.19mn Masraf Al Rayan sponsored exchange traded funds valued at QR3,.04mn changed hands across 132 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.

The Total Return Index declined 0.31% to 21,241.88 points, Al Rayan Islamic Index (Price) by 0.27% to 2,513.54 points and All Share Index by 0.16% to 3,408.14 points.

The consumer goods and services sector index shrank 0.59%, real estate (0.53%), insurance (0.52%), banks and financial services (0.17%) and telecom (0.14%); whereas transport and industrials gained 0.23% and 0.08% respectively.

Major losers included Barwa, Commercial Bank, Woqod, Al Khaleej Takaful, QIIB and Qatar General Insurance and Reinsurance; even as Inma Holding, Alijarah Holding, Medicare Group, Qatari Investors Group, Milaha, Qatar First Bank, Zad Holding, Salam International Investment, Qatar National Cement, Aamal Company and Mazaya Qatar were among the gainers.

The domestic institutions’ net selling increased significantly to QR28.25mn against QR9.66mn on May 27.

Foreign individuals were net sellers to the tune of QR4.24mn compared with net buyers of QR11.19mn last Thursday.

The Gulf individuals’ net profit booking grew perceptibly to QR1.91mn against QR0.11mn the previous trading day.

Foreign funds’ net buying declined substantially to QR14.12mn compared to QR52.13mn on May 27.

However, the Arab individuals turned net buyers to the extent of QR9.2mn against net sellers of QR4.96mn last Thursday.

Qatari individuals turned net buyers to the tune of QR8.17mn compared with net sellers of QR42.09mn the previous trading day.

The Gulf institutions turned net buyers to the tune of QR2.86mn against net profit takers of QR6.48mn on May 27.

The Arab funds continued to have no major net exposure.

Total trade volume fell 44% to 190.95mn shares, value by 70% to QR381.73mn and transactions by 44% to 7,980.

The transport sector’s trade volume plummeted 76% to 1.95mn equities, value by 73% to QR7.41mn and 45% in deals to 254.

The insurance sector reported 75% plunge in trade volume to 1.85mn stocks, 72% in value to QR7.26mn and 62% in transactions to 173.

The telecom sector’s trade volume tanked 67% to 2.69mn shares, value by 80% to QR7.49mn and deals by 72% to 249.

There was 56% shrinkage in the industrials sector’s trade volume to 54.64mn equities, 77% in value to QR109.76mn and 60% in transactions to 1,983.

The banks and financial services sector’s trade volume shrank 51% to 42.97mn stocks, value by 77% to QR121.53mn and deals by 41% to 2,802.

The market witnessed 36% contraction in the consumer goods and services sector’s trade volume to 42.02mn shares, 54% in value to QR60.85mn and 32% in transactions to 1,298.

However, the real estate sector’s trade volume shot up 23% to 44.82mn equities, value by 13% to QR67.42mn and deals by 30% to 1,221.

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