QSE Makes 16 Points Gain; Gulf Funds Turn Bullish

The Qatar Stock Exchange (QSE) on Wednesday saw losers outnumber gainers, but settled 16 points higher, even as capitalisation stayed largely flat.

The transport and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.15% to 10,713.35 points, recovering from an intraday low of 10,665 points.

The Gulf institutions were seen net buyers in the main market, whose year-to-date gains improved to 1.35%.

The Arab individuals turned bullish in the main bourse, whose capitalisation was up mere 0.02% to QR631.71bn mainly on account of microcap segments.

The foreign funds continued to be net buyers but with lesser intensity in the main market, which saw as many as 0.01mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.02mn trade across eight deals.

The local retail investors’ weakened net selling had its influence on the main bourse, whose trade turnover and volumes were on the decline.

The Islamic index was seen declining vis-à-vis gains in the other indices of the main market, which saw no trading of treasury bills.

The domestic institutions’ lower net profit booking had its effect on the main bourse, which saw no trading of sovereign bonds and treasury bills.

The Total Return Index was up 0.15% and the All Share Index by 0.09%, while the All Islamic Index was down 0.02% in the main market.

The transport sector index shot up 2.41%, consumer goods and services (0.73%) and industrials (0.04%); whereas telecom declined 1.02%, real estate (0.54%), banks and financial services (0.16%) and insurance (0.07%).

Major movers in the main bourse included Nakilat, Milaha, Medicare Group, Qatar Electricity and Water, AlRayan Bank and Estithmar Holding. In the venture market, Techno Q saw its shares appreciate in value.

Nevertheless, Vodafone Qatar, Ezdan, Qatar Oman Investment, Qatar Islamic Bank, Lesha Bank, QNB, Gulf International Services and Mesaieed Petrochemical Holding were among the shakers in the main market.

The Gulf institutions turned net buyers to the tune of QR9.74mn compared with net sellers of QR14.75mn the previous day.

The Arab individual investors were net buyers to the extent of QR0.79mn against net sellers of QR10.55mn on Tuesday.

The local retail investors’ net profit booking eased marginally to QR43.77mn compared to QR45.68mn on June 10.

The domestic institutions’ net selling weakened perceptibly to QR6.72mn against QR10.18mn the previous day.

The foreign individual investors’ net selling shrank noticeably to QR2.66mn compared to QR3.98mn on Tuesday.

However, the Gulf retail investors’ net profit booking strengthened markedly to QR5.6mn against QR2.47mn on June 10.

The Arab institutions turned net sellers to the tune of QR0.1mn compared with no major net exposure the previous day.

The foreign institutions’ net buying weakened substantially to QR48.32mn against QR87.62mn on Tuesday.

The main market saw a 20% contraction in trade volumes to 187.04mn shares and 8% in value to QR454.63mn but on 4% jump in deals to 25,156.

In the venture market, a total of 0.06mn equities valued at QR0.17mn changed hands across 17 transactions.