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Domestic Funds’ Net Selling Drags QSE 68 Points

Domestic Funds’ Net Selling Drags QSE 68 Points

The Qatar Stock Exchange yesterday lost more than 68 points, on profit booking pressure, especially in the industrial and transport counters.

The domestic institutions were seen net sellers as the 20-stock Qatar Index shed 0.65% to 10,456.02 points.

The Gulf retail investors were seen bearish in the main market, which had however touched an intraday high 10,517 points.

About 51% of the traded stocks were in the red in the main bourse, whose year-to-date losses widened to 2.11%.

The Arab institutions were seen bearish, albeit at lower levels, in the main bourse, whose capitalisation shed QR2.69bn or 0.43% to QR622.08bn, mainly on account of mid and small cap segments.

The Gulf institutions’ weakened net buying had its influence in the main market, which saw a total of 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.3mn changed hands across five deals.

However, local retail investors were increasingly net buyers in the main bourse, which saw no trading of sovereign bonds.

The Islamic index was seen declining slower than then main index in the main market, which saw no trading of treasury bills.

The Total Return Index declined 0.65%, the All Share Index by 0.54% and the Al Rayan Islamic Index (Price) by 0.54% in the main bourse, whose trade turnover and volumes were on the higher side.

The industrials sector index shed 1.42%, transport (1.2%), and banks and financial services (0.43%); while telecom gained 1.53%, insurance (0.15%), real estate (0.07%) and consumer goods and services (0.03%).

Major shakers in the main market included Qatari German Medical Devices, Qatar Industrial Manufacturing, Mesaieed Petrochemical Holding, Industries Qatar, Al Khaleej Takaful, Barwa, Milaha and Gulf Warehousing.

Nevertheless, Inma Holding, Qatar General Insurance and Reinsurance, Salam International, Mazaya Qatar, Medicare Group, Dlala, Widam Food, Qatar National Cement, Estithmar Holding, Ezdan and Ooredoo were among the movers in the main market.

In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.

The domestic institutions turned net sellers to the tune of QR33.7mn compared with net buyers of QR25.48mn on May 24.

The Gulf retail investors were net sellers to the extent of QR1.48mn against net buyers of QR1.72mn the previous day.

The Arab institutions turned net profit takers to the tune of QR0.11mn compared with no major net exposure on Wednesday.

The Gulf institutions’ net buying declined substantially to QR23.31mn against QR41.93mn on May 24.

However, the Qatari individuals’ net buying strengthened significantly to QR50.68mn compared to QR2.41mn the previous day.

The Arab individual investors were net buyers to the tune of QR6.72mn against net sellers of QR10.31mn on Wednesday.

The foreign individuals’ net buying expanded perceptibly to QR4.62mn compared to QR0.39mn on May 24.

The foreign institutions’ net selling weakened drastically to QR50.03mn against QR27.3mn the previous day.

The main market saw a 17% increase in trade volumes to 326.45mn shares, 8% in value to QR753.54mn and 5% in deals to 22,806.