QSE Edges Down on Selling Pressure From Domestic, Foreign and Gulf Funds; but M-Cap Make Gains

The Qatar Stock Exchange Monday fell about seven points on selling pressure especially in the consumer goods, insurance and banking sectors.

The domestic funds were seen net sellers as the 20-stock Qatar Index was down 0.06% to 11,124.83 points, although it touched an intraday high of 11,164 points.

The foreign institutions turned net profit takers in the main market, whose year-to-date gains truncated to 5.24%.

The Gulf funds were seen bearish in the main bourse, whose capitalisation however added QR0.23bn or 0.03% to QR664.52bn, mainly on microcap segments.

However, the local retail investors turned net buyers in the main market, which saw as many as 2,657 exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR8,041 trade across nine deals.

The Arab individuals were seen net buyers in the main bourse, whose trade turnover grew amidst lower volumes.

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

The foreign retail investors were increasingly bullish in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index was down 0.06%, the All Share Index by 0.03% and the All Islamic Index by 0.05% in the main market.

The consumer goods and services sector index shed 0.52%, insurance (0.14%), banks and financial services (0.1%) and telecom (0.04%); while transport gained 0.47%, industrials (0.11%) and real estate (0.07%).

About 58% of the traded constituents were in the red in the main bourse with major shakers being Mannai Corporation, Al Mahhar Holding, QLM, Doha Bank, Estithmar Holding, Qatar Oman Investment, Qatar German Medical Devices, Baladna and Al Faleh Educational Holding. In the venture market, Techno Q saw its shares depreciate in value.

Nevertheless, Meeza, Qatar General Insurance and Reinsurance, Ezdan, Milaha, QNB, Industries Qatar, Mesaieed Petrochemical Holding, Gulf Warehousing and Nakilat were among the gainers in the main market.

The domestic institutions turned net sellers to the tune of QR22.44mn compared with net buyers of QR5.15mn on Sunday.

The foreign institutions were net profit takers to the extent of QR5.31mn against net buyers of QR0.56mn the previous day.

The Gulf institutions turned net sellers to the tune of QR1.18mn compared with net buyers of QR3.1mn on September 7.

However, the local individual investors’ net buying expanded substantially to QR18.01mn against QR3.89mn on Sunday.

The Arab retail investors turned net buyers to the extent of QR4.61mn compared with net sellers of QR12mn the previous day.

The foreign individuals’ net buying strengthened perceptibly to QR3.67mn against QR2.13mn on September 7.

The Gulf retail investors were net buyers to the tune of QR2.63mn compared with net sellers of QR2.84mn on Sunday.

The Arab institutions had no major net exposure for the sixth straight session.

The main market saw 17% contraction in trade volumes to 97.91mn shares and 11% in value to QR301.26mn but on 83% jump in deals to 23,238.

In the venture market, a total of 0.57mn equities valued at QR1.54mn changed hands across 140 transactions.