QSE edges lower despite foreign funds’ increased net buying

Foreign institutions were increasingly net buyers in an otherwise bearish Qatar Stock Exchange, whose key index lost 67 points and capitalisation by QR4bn.The industrials, insurance and banking counters witnessed higher than average net selling pressure as the 20-stock Qatar Index declined 0.48% to 13,927.92 points, recovering from an intraday low of 13,863 points.The Gulf institutions were also increasingly net buyers in the market, whose year-to-date gains were at 19.8%.The foreign individuals were seen increasingly into net buying in the bourse, whose capitalisation saw 0.5% decrease to QR780.4bn, mainly on the back of midcap segments.The Islamic index was seen declining slower than the other indices in the market, where the consumer goods and services and banking sectors together accounted for more than 65% of the trading volume.About 64% of the traded constituents were in the red in the market, which saw a total of 146,410 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.72mn changed hands across 38 deals.The domestic institutions were increasingly into net selling in the bourse, which saw no trading of sovereign bonds.Total trade turnover and volumes were on the increase in the market, which saw no trading of treasury bills.The Total Return Index shed 0.48% to 28,417.48 points, the All Share Index by 0.48% to 4,451.97points and the Al Rayan Islamic Index (Price) by 0.29% to 2,982.62 points.The industrials sector index shrank 0.9%, insurance (0.84%) and banks and financial services (0.52%); while consumer goods and services gained 0.46%, transport (0.25%), real estate (0.09%) and telecom (0.07%).Major losers in the main market included Qatar Cinema and Film Distribution, Investment Holding Group, Baladna, Commercial Bank, Mesaieed Petrochemical Holding, Masraf Al Rayan, Qatar First Bank, Qatar Oman Investment, Qatari German Medical Devices, Salam International Investment, Industries Qatar, Aamal Company, Qamco and Qatar Insurance. In the venture market, Mekdam Holding saw its shares depreciate in value.Nevertheless, Mannai Corporation, Dlala, Zad Holding, QLM and Qatar Islamic Bank were among the gainers in the main market. In the junior bourse, Al Faleh Educational Holding saw its shares appreciate in value.The foreign funds’ net buying increased drastically to QR29.03mn compared to QR6.59mn on April 17.The Gulf institutions’ net buying strengthened markedly to QR8.84mn against QR5.19mn the previous day.The foreign individuals’ net buying grew noticeably to QR1.86mn compared to QR0.32mn on Sunday.However, the domestic funds’ net profit booking shot up substantially to QR26.4mn against QR7.47mn on April 17.Qatari individuals’ net selling zoomed perceptibly to QR12.07mn compared to QR5.58mn the previous day.The Arab individuals were net sellers to the tune of QR1.42mn against net buyers of QR0.28mn on Sunday.The Arab institutions turned net sellers to the extent of QR0.02mn compared with net buyers of QR0.04mn on April 17.The Gulf individuals’ net buying shrank noticeably to QR0.19mn against QR0.64mn the previous day.Total trade volume in the main market rose 54% to 153.26mn shares and value by 67% to QR506.78mn on more-than-doubled transactions to 14,183.The banks and financial services sector’s trade volume more than tripled to 44.13mn equities and value more than doubled to QR228.1mn on almost-quadrupled deals to 8,411.The insurance sector’s trade volume more than doubled to 1.76mn stocks and value almost tripled to QR5.53mn on a 41% increase in transactions to 142.The consumer goods and services sector’s trade volume more than doubled to 55.67mn shares and value more than doubled to QR104.07mn on more-than-doubled deals to 1,523.The market witnessed a 39% surge in the transport sector’s trade volume to 2.98mn equities, 58% in value to QR14.28mn and 6% in transactions to 395.The industrials sector’s trade volume soared 17% to 34.88mn stocks, value by 13% to QR128.13mn and deals by 16% to 2,785. There was an 8% gain in the telecom sector’s trade volume to 1.28mn shares but on 34% decline in value to QR3.44mn and 3% in transactions to 147.However, the real estate sector’s trade volume plummeted 47% to 12.55mn equities and value by 29% to QR23.22mn, whereas deals shot up 19% to 780.The venture market saw a 72.73% plunge in trade volumes to 0.06mn stocks, 66.1% in value to QR0.4mn and 57.14% in transactions to 42.