DSM rises for 4th day on Qatari investors

The Doha Securities Market extended the winning streak to fourth day yesterday on Qatari retail investors’ buying. The key index rose 0.21%.

The 20-stock benchmark Qatar Share Index added 12 points to close at 5,435.87, mainly paced by Qatar Electricity and Water, Woqod, Barwa and Gulf Holding (GHC).

Local and foreign institutions booked profit at the Doha Securities Market, which is down 21.06% year-to-date.

Buying interest was seen in the mid cap stocks amid brisk trading in the industrial segment.

The services sector index gained 1.97%, but the indices of insurance and lenders fell 1.52% and 0.33% respectively. The industrial index was unchanged.

Market capitalisation edged 0.03% up or QR7mn to QR233.75bn although mid cap stocks gained 0.92%. But large, micro and small cap equities fell 0.92%, 0.55% and 0.32% respectively.

Of the 43 stocks, 17 gained, while 15 fell, seven were unchanged and four not traded.

Qatari retail investors turned bullish as they were net buyers (in terms of value) to the tune of 3.39% against net sellers of 7.49% in the previous day.

A higher 54.82% of them were into buying compared with 47.76% on Sunday, while a lower 51.43% into selling against 55.25%.

Non-Qatari retail investors’ bullish grip rather slackened as their net buying fell to 0.43% from 0.86% in the previous day.

A higher 26.44% of them picked up equities against 22.16% on Sunday and a higher 26.01% offloaded compared with 21.30%.

Foreign institutions turned profit-takers as they were net sellers to the extent of 1.44% against net buyers of 4.49% in the previous day.

A much lower 7.04% of them bought equities against 17.66% on Sunday and a much lower 8.48% sold compared with 13.17%.

Local institutional investors also turned bearish as they were net sellers to the tune of 2.39% against net buying of 2.14% in the previous day.

A lower 11.69% of them were into buying yesterday compared with 12.42% on Sunday, while a higher 14.08% into selling against 10.28%.

Total trading volume gained 6% to 15.54mn shares, value by 3% to QR0.31bn and deals by 9% to 7,734.

Industries’ trading volume jumped almost four-fold to 2.40mn shares, value expanded 87% to QR57.71mn on more than doubled transactions to 1,310.

Insurance volume surged 60% to 0.32mn shares, value by 69% to QR12.40mn and deals by 50% to 311.

Services’ trading volume was up 27% to 10.13mn shares, value by 21% to QR195.02mn and transactions by 19% to 4,802.

Lenders’ trading volume dropped 53% to 2.70mn shares, value by 56% to QR45.10mn and deals by 40% to 1,311.

Top six volume stocks belonged to Nakilat (2.59mn shares), Barwa (2mn), GHC (1.86mn), Alkhaliji (1.34mn), Qatar Real Estate Investment (1.27mn) and National Leasing (1.11mn).