Domestic Bonds

QSE turns bearish despite buying interest from Arab and local retail investors

The Qatar Stock Exchange opened the week on Sunday on weakness despite strong buying interest from Arab and local retail investors.
Net purchases by foreign institutions weakened significantly, with Qatar’s 20-stock index falling 67 points or 0.5% to 13,330.31 points, despite hitting an intraday high of 13,413 points.
The Islamic index has fallen faster than other market indexes, whose year-to-date gains were 14.66%.
More than 67% of constituents traded were in the red of the market, the market capitalization of which increased by around QR 4 billion or 0.51% to QR 753.99 billion, mainly driven by the mid and small cap segments.
Above-average selling pressure was visible at the consumer goods, transportation and telecommunications counters of the exchange, where the industrials and real estate sectors together accounted for more than 66% of trading volume.
Net selling of domestic funds weakened significantly on the exchange, which saw a total of 65,020 exchange-traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR 821,277 change hands across 93 transactions.
Gulf individuals were increasingly net buyers, albeit at lower levels, in the market, which saw no sovereign bond trading.
Turnover and total trading volumes were down on the exchange, which saw no trading in Treasuries.
The Total Return Index lost 0.5% to 27,198.17 points, the All Share Index by 0.57% to 4,265.99 points and the Al Rayan Islamic Index (Price) by 0.69% to 2,882, 05 dots.
The index for the consumer goods and services sectors fell by 1.39%, transport (1.3%), telecoms (1.07%), banks and financial services (0.73%) and real estate (0. 5%); while insurance and industry gained 0.21% and 0.13% respectively.
The main losers in the main market were Medicare Group, Qamco, Qatar National Cement, Mazaya Qatar, QNB, Alijarah Holding, Qatari German Medical Devices, Gulf International Services, Ezdan, Nakilat and Ooredoo.
In the venture capital market, Al Faleh Educational Holding saw its shares depreciate.
Nevertheless, Inma Holding, Mannai Corporation, Aamal Company, Qatari Investors Group, QLM, Dlala, Mesaieed Petrochemical Holding and Gulf Warehousing were among the main market winners.
On the junior stock exchange, Mekdam Holding saw its shares appreciate in value.
Net purchases by overseas institutions decreased significantly to QR 26.59 million from QR 305.7 million on March 17.
Net purchases by Gulf institutions declined significantly to QR 2.7 million from QR 117.67 million on the previous trading day.
However, Arab individuals became net buyers at QR 15.36 million against net sellers of QR 20 million last Thursday.
Qatari individuals were net buyers of QR 4.4 million against net sellers of QR 140.21 million on March 17.
Net purchases by Gulf individuals increased slightly to QR 1.35 million from QR 1.07 million the previous trading day.
Domestic fund net selling weakened significantly to QR 50.33 million from QR 263.01 million last Thursday.
Overseas individual net sales decreased significantly to QR 0.07 million from QR 1.24 million on March 17.
Arab institutions had no major net exposure against net buyers to the tune of QR 0.03 million on the previous trading day.
Total trading volume on the main market fell 30% to 247.94 million shares, value fell 59% to QR 625.56 million, and trades fell 42% to 12,955.
The transport sector’s trade volume fell 72% to 2.86 million shares, the value fell 72% to 13.8 million QR and trades fell 52% to 424.
The banking and financial services sector reported a 71% drop in trading volume to 35.47 million shares, 85% in value to 125.72 million QR and 66% in trades to 4,135.
The telecom sector’s trading volume fell 65% to 1.95 million shares, the value fell 75% to 5.53 million QR and trades fell 54% to 242.
The market saw a 37% contraction in trading volume of the consumer goods and services sector to 41.57 million shares, 36% in value to 90.42 million QR and 17% in trades to 1,648.
The insurance sector’s trading volume decreased by 22% to 2.3 million shares and value by 13% to QR 6.97 million, while trades increased by 8% to 310.
However, the real estate sector reported a 26% increase in trading volume to 49.83 million shares, but a 16% contraction in value to QR 57.36 million despite trades up 34% at 1,595.
Industrial sector trading volume increased by 5% to 113.96 million shares, while value eroded by 13% to QR 325.77 million and trades by 18% to 4,601.
The venture capital market saw a contraction of 80.95% in trading volumes to 0.04 million shares, 73.05% in value to 0.38 million QR and 65.82% in transactions at 27.