QSE Treads Flat Path Even As M-Cap Edges Higher

Amidst apprehensions over the US' potential re-imposition of tariffs next week, the Qatar Stock Exchange treaded almost a flat path despite stronger buying interests in consumer goods, industrials and banking counters.

The Gulf institutions were seen net buyers as the 20-stock Qatar Index settled mere 0.85 points higher at 10,699.24 points, but recovering from an intraday low of 10,662 points.

The foreign individual investors were seen bullish in the main market, whose year-to-date gains rose marginally to 1.21%.

The domestic institutions’ weakened net selling had its influence on the main bourse, whose capitalisation added QR0.8bn or 0.13% to QR632.87bn mainly on account of microcap segments.

The local retail investors were seen net buyers in the main market, which saw 0.04mn exchange traded funds (sponsored by AlRayan Bank) valued at QR0.09mn trade across 11 deals.

The Gulf individuals’ lower net profit booking had its effect on the main bourse, whose trade turnover and volumes were on the increase.

The Islamic index was seen gaining faster than the main barometer of the main market, which saw no trading of treasury bills.

The Arab retail investors continued to be net buyers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index was up 0.01%, the All Share Index by 0.07% and the All Islamic Index by 0.07% in the main market.

The consumer goods and services sector index rose 1.12%, industrials (0.34%) and banks and financial services (0.22%); while transport declined 1.69%, insurance (0.66%), real estate (0.55%) and telecom (0.11%).

Major movers in the main market included Meeza, Woqod, Qatar German Medical Devices, Ahlibank Qatar, Doha Insurance, Estithmar Holding and Mesaieed Petrochemical Holding.

Nevertheless, about 64% of the traded constituents were in the red with major losers being Nakilat, Inma Holding, Baladna, Medicare Group, Gulf Warehousing, Doha Bank, Qatar Oman Investment, Widam Food, Al Faleh Educational Holding and Qatar Insurance.

In the junior bourse, Techno Q saw its shares depreciate in value.

The Gulf institutions turned net buyers to the tune of QR2.7mn compared with net sellers of QR2.21mn the previous day.

The foreign retail investors were net buyers to the extent of QR1.37mn against net sellers of QR0.41mn on July 1.

The local individuals turned net buyers to the tune of QR1.15mn compared with net sellers of QR7.56mn on Tuesday.

The domestic institutions’ net selling weakened perceptibly to QR14.55mn against QR17.61mn the previous day.

The Gulf retail investors’ net profit booking declined noticeably to QR0.66mn compared to QR5.12mn on July 1.

However, the foreign institutions’ net buying decreased significantly to QR4.84mn against QR23.29mn on Tuesday.

The Arab individual investors’ net buying shrank markedly to QR5.15mn compared to QR9.62mn the previous day.

The Arab institutions had no major net exposure for the third consecutive session.

The main market saw a 24% jump in trade volumes to 143.72mn shares and 24% in value to QR381758mn but on 3% fall in deals to 18,379.

In the venture market, a total of 8,842 equities valued at QR0.02mn changed hands across four transactions.