Increased domestic buying support stretches bull run on Qatar Exchange

Increased net buying support from domestic institutions extended the bullish run in the Qatar Exchange for the third day yesterday.

Buying was relatively strong in large cap equities as the QE Index (based on price data) rose 0.17% to 8,338.71 points. The market is, however, down 5.13% year-to-date.

All Share Index (comprising wider constituents) and Total Return Index were up 0.12% and 0.17% to 2,004.46 and 11,271.75 points respectively. Both the indices factored in dividend income as well.

Doha Bank, Mawashi and Gulf International Services were among the gainers; while Barwa, Mazaya Qatar, Vodafone Qatar and Nakilat bucked the trend.

Under the All Share Index category, the insurance index rose 0.46%, industrials (0.27%), banks and financial services (0.17%) and telecom (0.11%); while the indices of realty, transport and consumer goods fell 0.43%, 0.14% and 0.05% respectively.

Market capitalisation was up 0.12% or QR53mn to QR455.80bn with large cap equities gaining 0.20% and mid and micro caps (0.10% each); while small caps lost 0.13%.

Of the 42 stocks, 17 advanced, while 16 declined, three were unchanged and six were not traded.

Domestic institutions were increasingly bullish as their net buying soared to 5.56% from 0.99% the previous day. Their net buying was QR8.58mn.

A higher 18.56% of them bought equities compared to 9.01% on Tuesday and a higher 13% offloaded against 8.02%.

However, foreign institutions turned profit takers that they were net sellers to the tune of 3.92% compared with net buyers of 6.65% the previous day. Their net selling was QR6.05mn. A much lower 25.74% of them were into buying against 37.62% on Tuesday and a marginally lower 29.66% of them into selling compared to 30.97%.

Qatari individual investors were increasingly bearish as their net selling rose to 4.94% from 4.18% the previous day. Their net selling amounted to QR7.62mn.

A marginally higher 39.99% of them purchased equities compared to 39.50% on Tuesday and a marginally higher 44.93% sold against 43.68%.

Non-Qatari retail investors turned bullish as they were net buyers to the extent of 3.29% compared with net sellers of 3.47% the previous day. Their net buying was QR5.07mn.

A higher 15.70% of them were into buying against 13.87% on Tuesday whereas a lower 12.41% were into offloading against 17.34%.

Total trading volume was down 5% to 4.72mn equities whereas value rose 7% to QR154.24mn but deals fell 2% to 2,342.

The banks and financial services sector’s trading volume plummeted 19% to 1.70mn shares, while value gained 5% to QR66.25mn but transactions were down 5% to 927.

The transport sector’s trading volume plunged 14% to 0.31mn shares, value by 17% to QR6.89mn and deals by 27% to 200. The real estate sector’s trading volume tanked 11% to 1.56mn shares, value by 5% to QR24.41mn and transactions by 19% to 370.

The industrials sector’s trading volume declined 10% to 0.36mn shares and value by 13% to QR31.05mn while deals were up 6% to 357.

However, the consumer goods and services sector’s trading volume more than doubled to 0.39mn shares and value also more than doubled to QR18.05mn on a 41% jump in transactions to 321.

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