QSE loses steam as foreign funds up selling pressure; Islamic index bucks the trend

The Qatar Stock Exchange (QSE) on Thursday lost more than 14 points, dragged mainly by the real estate, transport and banking counters.

The foreign funds were seen increasingly net sellers as the 20-stock Qatar Index lost 0.14% to 10,441.53 points, but recovering from an intraday low of 10,404 points.

The Gulf retail investors turned net profit takers in the main bourse, whose capitalisation was melting QR1.08bn or 0.18% to QR613.81bn on the back of small and microcap segments.

The Gulf institutions’ weakened net buying had its influence in the main market, which saw as many as 3,999 exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.04mn change hands across five transactions.

As much as 52% of the traded constituents were in the red in the main bourse, whose trade turnover and volumes were on the decline.

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

The domestic funds were seen increasingly net buyers in the main market, which saw no trading of sovereign bonds.

The Total Return Index fell 0.14% and the All Share Index by 0.18%, while the All Islamic Index was up 0.07% in the main market.

The realty sector index shrank 0.73%, transport (0.49%), banks and financial services (0.4%), industrials (0.08%) and consumer goods and services (0.05%); whereas telecom and insurance gained 1.61% and 0.71% respectively.

Major losers in the main market included Meeza, Zad Holding, United Development Company, Commercial Bank, Ezdan and QNB.

Nevertheless, Widam Food, Qatar General Insurance and Reinsurance, Ooredoo, Mannai Corporation, Aamal Company, Doha Bank, Qatar German Medical Devices and Estithmar Holding were among the movers in the main bourse.

In the venture market, Al Mahhar Holding saw its shares appreciate in value.

The foreign institutions’ net selling increased noticeably to QR49.72mn compared to QR42.02mn on January 8.

The Gulf retail investors turned net sellers to the tune of QR0.46mn against net buyers of QR0.68mn on Wednesday.

The Gulf institutions’ net buying weakened substantially to QR9.91mn compared to QR19.27mn the previous day.

The foreign individual investors’ net buying declined perceptibly to QR5.55mn against QR8.88mn on January 8.

However, the domestic institutions’ net buying strengthened markedly to QR25.66mn compared to QR22.06mn on Wednesday.

The Qatari individuals were net buyers to the extent of QR5.92mn against net sellers of QR10.74mn the previous day.

The Arab individual investors’ net buying expanded noticeably to QR3.14mn compared to QR1.97mn on January 8.

The Arab institutions had no major net exposure against net profit takers to the tune of QR0.1mn on Wednesday.

Trade volumes in the main market shrank 22% to 123.52mn shares, value by 23% to QR391.12mn and transactions by 27% to 14,581.

The venture market saw doubling of trade volumes to 0.04mn equities and 67% surge in value to QR0.1mn but on 36% contraction in deals to nine.