QSE treads flat path amid selling pressure from domestic funds, retail investors

The Qatar Stock Exchange on Wednesday treaded a flat course despite selling pressure from local retail investors and domestic institutions.
The real estate, insurance, telecom and industrials counters witnessed higher than average demand even as the 20-stock Qatar Index settled mere 0.01% higher at 10,571.82 points.
The market, which was skewed towards gainers, had touched an intraday high of 10,605 points, especially in the first 30 minutes of opening.
The Gulf institutions were seen net buyers in the main market, whose year-to-date losses were at 1.02%.
More than 55% of the traded constituents extended gains to investors in the main bourse, whose capitalisation saw QR0.82bn or 0.13% jump to QR609.67bn, mainly on account of microcap segments.
The Arab individual investors’ weakened net selling had its influence in the main market, which saw a total of 0.01mn exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.21mn changed hands across seven deals.
The foreign retail investors were seen net buyers, albeit at lower levels, in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen outperforming the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index was up 0.01% and the Al Rayan Islamic Index (Price) by 0.34%, while the All Share Index was down 0.16% in the main bourse, whose trade turnover and volumes were on the decline.
The realty sector index shot up 1.28%, insurance (0.79%), telecom (0.7%) and industrials (0.43%); while banks and financial services declined 0.65%, transport (0.1%) and consumer goods and services (0.04%).
Major gainers in the main market included Qatar General Insurance and Reinsurance, Ezdan, Barwa, Qatar National Cement, Qatari German Medical Devices, Alijarah Holding, Estithmar Holding, Mesaieed Petrochemical Holding, Qamco, Ooredoo and Gulf Warehousing.
Nevertheless, Mannai Corporation, Qatar Industrial Manufacturing, Beema, Qatar Islamic Insurance and QNB were among the shakers in the main market.
In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
The Gulf institutions turned net buyers to the tune of QR4.25mn compared with net sellers of QR45.51mn on February 28.
The foreign retail investors were net buyers to the extent of QR0.18mn against net profit takers of QR1.99mn on Tuesday.
The Arab individual investors’ net selling eased noticeably to QR1.92mn compared to QR4.4mn the previous day.
However, the local individual investors turned net sellers to the tune of QR8.43mn against net buyers of QR6.23mn on February 28.
The domestic institutions’ net profit booking expanded perceptibly to QR3.16mn compared to QR1.48mn on Tuesday.
The foreign institutions’ net buying weakened substantially to QR18.06mn against QR46.85mn the previous day.
The Gulf retail investors’ net buying shrank marginally to QR0.28mn compared to QR0.38mn on February 28.
The Arab institutions had no major net exposure against net profit takers to the extent of QR0.09mn on Tuesday.
The main market saw 38% shrinkage in trade volumes to 116.92mn shares, 47% in value to QR393.09mn and 12% in deals to 13,300.