QSE Remains Flat Despite Five Sectors See Buying Interests

Having hit multi-year high in the previous sessions, the Qatar Stock Exchange (QSE) Sunday opened the week on a flat note despite buying interests in five of the seven sectors.

The domestic institutions were increasingly net profit takers as the 20-stock Qatar Index remained at 11,362 points, even as it touched an intraday low of 11,336 points.

The industrials and real estate counters saw higher than average selling pressure in the main market, whose year-to-date gains were at 7.49%.

The Gulf retail investors were seen bearish, albeit at lower levels, in the main bourse, whose capitalisation was up QR0.08bn or 0.01% to QR676.36bn mainly on microcap segments.

The foreign institutions’ weakened net buying had its influence on the main market, which saw as many as 4,690 exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.04mn trade across eight deals.

The Gulf funds’ lower net buying also had its impact on the main bourse, whose trade turnover and volumes were on the decline.

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

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

The Total Return Index was down 0.01% and the All Share Index by 0.02%, while the All Islamic Index rose 0.09% in the main market.

The industrials and realty sectors index declined 0.74% and 0.2% respectively; while consumer goods and services gained 0.94%, insurance (0.5%), telecom (0.48%), banks and financial services (0.12%) and transport (0.09%).

Major shakers in the main market include Industries Qatar, Doha Insurance, Al Mahhar Holding, Beema, Qatar German Medical Devices, Widam Food, Mesaieed Petrochemical Holding, Mazaya Qatar and Gulf Warehousing.

Nevertheless, about 51% of the traded constituents extended gains to investors in the main bourse with major movers being Estithmar Holding, Baladna, Al Faleh Educational Holding, Alijarah Holding, Qatar General Insurance and Reinsurance, QIIB, Dlala and Qamco. In the venture market, Techno Q saw its shares appreciate in value.

The domestic institutions’ net selling increased perceptibly to QR20.97mn compared to QR17.1mn last Thursday.

The Gulf individual investors turned net sellers to the tune of QR0.09mn against net buyers of QR2.38mn on August 7.

The foreign funds’ net buying decreased substantially to QR12.65mn compared to QR61.14mn the previous trading day.

The Gulf institutions’ net buying weakened significantly to QR0.7mn against QR30.84mn last Thursday.

However, the local retail investors were net buyers to the extent of QR5.31mn compared with net sellers of QR75.63mn on August 7.

The foreign individual investors turned net buyers to the tune of QR1.43mn against net sellers of QR1.6mn the previous trading day.

The Arab retail investors’ net buying strengthened marginally to QR0.97mn compared to QR0.02mn last Thursday.

The Arab institutions had no major net exposure against net profit takers to the extent of QR0.05mn on August 7.

The main market saw 2% fall in trade volumes to 240.68mn shares, 16% in value to QR450.48mn and 23% in deals to 18,084.

In the venture market, a total of 0.26mn equities valued at QR0.71mn changed hands across 30 transactions.