Foreign funds’ higher net profit booking weakens QSE sentiments

The Qatar Stock Exchange (QSE) on Tuesday fell more than 22 points on selling pressure particularly in the consumer goods, industrials, realty and transport counters.

The foreign institutions were increasingly net sellers as the 20-stock Qatar Index shed 0.22% to 10,071.4 points, recovering from an intraday low of 10,026 points.

The local retail investors were seen net profit takers in the main market, whose year-to-date losses widened to 7.01%.

More than 69% of the traded stocks were in the red in the main bourse, whose capitalisation melted added QR1.34bn or 0.23% to QR582.1bn on the back of microcap segments.

The Arab individuals turned bearish in the main market, which saw 4,680 exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.01mn trade across two deals.

However, the Gulf institutions were seen increasingly into net buying in the main bourse, which saw no trading of treasury bills.

The domestic institutions were also increasing bullish in the main market, which saw no trading of sovereign bonds.

The Islamic index was seen declining faster than the other indices in the main bourse, whose trade turnover and volumes were on the increase.

The Total Return Index shed 0.22%, the All Islamic Index by 0.41% and the All Share Index by 0.13% in the main market.

The consumer goods and services sector index declined 0.81%, industrials (0.68%), transport (0.62%), real estate (0.58%) and telecom (0.21%); while banks and financial services gained 0.3% and insurance 0.19%.

Major shakers in the main bourse included Widam Food, Ahlibank Qatar, QLM, Inma Holding, Mazaya Qatar, Masraf Al Rayan, Woqod, Baladna, Mesaieed Petrochemical Holding, Qamco, Ezdan and Nakilat. In the venture market, Al Mahhar Holding saw its shares depreciate in value.

Nevertheless, Qatar General Insurance and Reinsurance, Doha Insurance, Zad Holding, Qatar Oman Investment, Vodafone Qatar and Al Faleh Educational Holding were among the movers in the main market. In the junior bourse, Techno Q saw its shares appreciate in value.

The foreign institutions’ net profit booking increased markedly to QR7.27mn compared to QR2.61mn on August 12.

The Qatari individual investors turned net sellers to the tune of QR2.23mn against net buyers of QR2.26mn on Monday.

The Arab individuals were net sellers to the extent of QR1.24mn compared with net buyers of QR1.82mn the previous day.

However, the Gulf institutions’ net buying strengthened substantially to QR4.34mn against QR0.22mn on August 12.

The domestic institutions’ net buying expanded significantly to QR3.84mn compared to QR0.08mn on Monday.

The foreign retail investors turned net buyers to the tune of QR1.58mn against net sellers of QR1.79mn the previous day.

The Gulf individual investors were net buyers to the extent of QR1mn compared with net profit takers of QR0.11mn on August 12.

The Arab institutions had no major net exposure against net buyers to the tune of QR0.08mn on Monday.

Trade volumes in the main market rose 20% to 118.88mn shares, value by 19% to QR303.23mn and transactions by 14% to 13,767.

The venture market saw 17% decline in trade volumes to 1.67mn equities, 23% in value to QR3.37mn and 46% in deals to 100.