Qatar Exchange index rises slightly despite all-round sell pressure

The Qatar Exchange was marginally bullish yesterday despite selling pressure from local retail and institutions as well as non-Qatari individual investors.

Small, large and micro cap equities witnessed some buying interests as the QE Index (based on price data) rose for the fourth consecutive day by 0.1% to 8,340.31 points. The market is, however, down 5% year-to-date.

The All Share Index (comprising wider constituents) and Total Return Index also gained 0.13% and 0.10% to 2,009.58 and 11,287.45 points. Both the indices factored in dividend income as well.

Major gainers included Commercialbank, National Leasing (NLC), Qatari Investors Group, Industries Qatar, Mazaya Qatar, Vodafone Qatar (VFQ) and Milaha; even as Mawashi, Gulf International Services and Barwa bucked the trend.

Under the All Share Index category, the transport index gained 0.34%, telecom (0.27%), banks and financial services (0.25%), industrials (0.11%) and consumer goods (0.07%); while the indices of realty and insurance shrank 0.78% and 0.13% respectively.

Market capitalisation rose 0.03% or QR15mn to QR457.17bn with small, large and micro cap equities notably gaining 0.36%, 0.20% and 0.12% respectively, while mid caps fell 0.42%.

Of the 42 stocks, 21 advanced, while only 15 declined and three were unchanged. Three others were not traded.

Foreign institutions turned bullish that they were net buyers to the tune of 2.41% compared with net sellers of 2.44% the previous day. Their net buying was QR5.77mn. A lower 13.08% of them were into buying against 18.74% last Thursday and a much lower 10.67% of them into selling compared to 21.18%. However, domestic institutions turned profit takers that they were net sellers to the extent of 0.22% against net buyers of 2.62% the previous day. Their net selling was QR0.53mn. A higher 15.42% of them bought equities compared to 11.61% last Thursday and a higher 15.64% offloaded against 8.99%.

Qatari individual investors turned bearish that they were net sellers to the tune of 0.69% compared with net buyers of 1.91% the previous day. Their net selling amounted to QR1.65mn.

A lower 52.21% of them purchased equities compared to 56.17% last Thursday and a lower 52.90% sold against 54.26%.

Non-Qatari retail investors continued to be bearish but with lesser intensity as their net selling fell to 1.49% from 2.09% the previous day. Their net selling was QR3.57mn.

A higher 19.29% of them were into buying against 13.48% last Thursday and a higher 20.78% were into offloading against 15.55%.

Total trading volume gained 79% to 7.64mn equities, value by 53% to QR239.57mn and deals by 30% to 3,696.

The telecom sector’s trading volume more than quadrupled to 0.62mn shares, value soared 55% to QR9.80mn and transactions by 94% to 280.

The real estate sector’s trading volume more than tripled to 2.69mn shares and value almost tripled to QR43.82mn on more than doubled deals to 809.

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