QSE closes almost flat despite buying by domestic funds, Gulf and Arab retail investors

The Qatar Stock Exchange (QSE), which intraday crossed the 10,600 level, finally closed almost flat despite the buying support from the domestic funds as well as Arab and Gulf retail investors.

The insurance, consumer goods, transport and banking counters witnessed higher than average demand as the 20-stock Qatar Index settled mere 0.03% higher at 10,585.3 points, although it touched an intraday high of 10,623 points.

The foreign institutions continued to be net buyers but with lesser intensity in the main market, whose year-to-date losses truncated to 2.27%.

The Gulf institutions turned net profit takers in the main bourse, whose capitalisation was up QR0.12bn or 0.02% to QR618.19bn on the back of microcap segments.

The local retail investors’ weakened net selling had its influence in the main market, which saw 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.14mn trade across 23 deals.

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

The Total Return Index was up 0.03%, the All Islamic Index by 0.02% and the All Share Index by 0.02% in the main market, which saw no trading of treasury bills and sovereign bonds.

The insurance sector index gained 0.37%, consumer goods and services (0.36%), transport (0.15%), banks and financial services (0.11%) and telecom (0.06%); while industrials and real estate declined 0.4% and 0.23% respectively.

Major gainers in the main market included Qatar General Insurance and Reinsurance, Doha Insurance, Mannai Corporation, Ezdan, Medicare Group, Qatar Islamic Bank and Al Meera. In the juniour bourse, Techno Q saw its shares appreciate in value.

Nevertheless, QLM, Inma Holding, Aamal Company, Vodafone Qatar, Doha Bank, Industries Qatar, Mesaieed Petrochemical Holding, Qamco and Barwa were among the losers in the main market.

The Arab individuals turned net buyers to the tune of QR2.84mn compared with net sellers of QR4.27mn on September 26.

The domestic institutions were net buyers to the extent of QR2.17mn against net profit takers of QR0.49mn last Thursday.

The Gulf individuals turned net buyers to the tune of QR1.5mn compared with net sellers of QR1.05mn the previous trading day.

The Qatari individual investors’ net selling declined noticeably to QR7.13mn against QR19.75mn on September 26.

However, the Gulf institutions were net sellers to the extent of QR6.39mn compared with net buyers of QR7.1mn last Thursday.

The foreign retail investors turned net profit takers to the tune of QR1.93mn against net buyers of QR0.05mn last Thursday.

The foreign institutions’ net buying decreased substantially to QR8.94mn compared to QR18.42mn on September 26.

The Arab institutions had no major net exposure for the second straight session.

Trade volumes in the main market fell 36% to 169.79mn shares, value by 42% to QR336.71mn and transactions by 41% to 11,923.

The venture market saw 90% plunge in trade volumes to 0.03mn equities, 87% in value to QR0.09mn and 54% in deals to 16.