Foreign Funds’ Increased Selling Pressure Drags QSE 30 Points; M-Cap Erodes QR1.87bn

The Qatar Stock Exchange (QSE) Sunday opened the week weak with its key index losing as much as 30 points and capitalisation eroding about QR2bn, dragged mainly down by realty, consumer goods and transport sectors.

The foreign funds were increasingly net sellers as the 20-stock Qatar Index shed 0.28% to 10,615.07 points, although it touched an intraday high of 10,668 points.

The Arab individuals’ weakened net buying had its influence on the main market, whose year-to-date gains truncated to 0.42%.

About 56% of the traded constituents were in the red in the main bourse, whose capitalisation melted QR1.87bn or 0.29% to QR634.86bn, mainly on small cap segments.

The Arab institutions’ lower net buying had its marginal impact on the main market, which saw as many as 0.03mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.07mn trade across 12 deals.

The local retail investors continued to be net sellers but with lesser intensity in the main bourse, whose trade turnover and volumes were on the decline.

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

The domestic institutions were increasingly bullish in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index shed 0.28%, the All Share Index by 0.25% and the All Islamic Index by 0.12% in the main market.

The real estate sector index tanked 2%, consumer goods and services (0.77%), transport (0.77%) and banks and financial services (0.41%); while insurance shot up 2.31%, telecom (0.54%) and industrials (0.24%).

As many as 17 stocks gained, while 29 declined and six were unchanged.

Major shakers in the main market included Barwa, Baladna, Medicare Group, Al Mahhar Holding, Gulf Warehousing, QNB, Widam Food, Gulf International Services, Ezdan and Nakilat.

Nevertheless, Qatar General Insurance and Reinsurance, Qatar National Cement, Meeza, Aamal Company, Qatar Insurance, Estithmar Holding, QLM and Ooredoo were among the movers in the main bourse. In the venture market, Techno Q saw its shares appreciate in value.

The foreign funds’ net selling increased substantially to QR16.26mn compared to QR6.16mn the previous trading day.

The Arab individual investors’ net buying declined noticeably to QR0.16mn against QR2.12mn on November 27.

The Arab institutions’ net buying weakened marginally to QR0.04mn compared to QR0.05mn last Thursday.

However, the domestic funds’ net buying rose considerably to QR15.63mn against QR9.38mn the previous trading day.

The foreign individuals turned net buyers to the tune of QR2.75mn compared with net sellers of QR0.06mn on November 27.

The Gulf institutions’ net buying strengthened marginally to QR1.92mn against QR1.62mn last Thursday.

The Gulf individuals’ net buying grew perceptibly to QR0.54mn compared to QR0.04mn the previous trading day.

The local retail investors’ net profit booking eased markedly to QR4.8mn against QR6.98mn on November 27.

The main market saw a 44% contraction in trade volumes to 95.55mn shares, 48% in value to QR209.33mn and 43% in deals to 10,613.

In the venture market, a total of 0.17mn equities valued at QR0.37mn changed hands across 61 transactions.