Local retail investors, domestic funds drag QSE; index falls

The Qatar Stock Exchange on Sunday opened the week weak, mainly dragged by profit booking pressure from the local retail investors and domestic funds.The banking sector witnessed higher than average selling pressure as the 20-stock Qatar Index settled 0.34% lower at 13,138.38 points, although it touched an intraday high of 13,203 points.The foreign individuals were seen bearish, albeit at lower levels, in the market, whose year-to-date gains were truncated to 13.01%.More than 68% of the traded constituents were in the red in the bourse, whose capitalisation fell QR0.41bn or 0.06% to QR732.77bn mainly on microcap segments.The Islamic index was seen declining slower than the other indices in the market, which saw a total of 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.44mn changed hands across 32 deals.Trade turnover declined amidst higher volumes in the main market, while the venture market saw rising turnover amid flat volumes.The Gulf institutions were increasingly into net buying in the bourse, which saw no trading of sovereign bonds.The foreign institutions turned bullish in the market, which saw no trading of treasury bills.The Total Return Index shrank 0.34% to 26,911.66 points, All Share Index by 0.26% to 4,167.22 points and Al Rayan Islamic Index (Price) by 0.23% to 2,893.16 points.The banks and financial services sector declined 0.41%, realty (0.23%), industrials (0.21%), telecom (0.11%) and consumer goods and services (0.08%); while transport and insurance gained 0.27% and 0.09% respectively.Major losers in the main market included Mesaieed Petrochemical Holding, Baladna, Qamco, Gulf International Services, Doha Insurance, Commercial Bank, Doha Bank, Masraf Al Rayan, United Development Company and Nakilat. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.Nevertheless, Qatar General Insurance and Reinsurance, Mannai Corporation, Qatari German Medical Devices, Ezdan, Milaha, Qatar First Bank and Industries Qatar were among the gainers in the main market. In the junior bourse, Mekdam Holding saw its shares appreciate in value.Qatari individuals’ net selling increased significantly to QR76.37mn compared to QR15.84mn on September 1.The domestic funds turned net sellers to the tune of QR21.24mn against net buyers of QR47.84mn last Thursday.The foreign individuals were net sellers to the extent of QR0.84mn compared with net buyers of QR2.46mn the previous trading day.The Arab institutions turned net profit takers to the tune of QR0.37mn against no major net exposure on September 1.However, the foreign institutions turned net buyers to the extent of QR77.58mn compared with net sellers of QR46.02mn last Thursday.The Gulf institutions’ net buying increased considerably to QR11.96mn against QR4.26mn the previous trading day.The Arab individuals’ net buying strengthened noticeably to QR6.38mn compared to QR5.13mn on September 1.The Gulf retail investors’ net buying grew marginally to QR2.9mn against QR2.17mn last Thursday.Total trade volume in the main market rose 4% to 141.74mn shares, while value shrank 25% to QR450.18mn and deals by 43% to 11,524.In the venture market, the trade volumes were seen flat at 0.15mn equities but on 2% jump in value to QR1.14mn despite 49% lower transactions at 33.