QE bull run continues on domestic buying interest

Buying interest from domestic institutions’ kept up the bullish momentum in the Qatar Exchange for the third day yesterday.

Small and mid caps largely came under buying spotlight as the 20-stock QE Index (based on price data) rose 0.03% to 8,421.08 points. The market is, however, down 4.08% year-to-date. A total of 47.11mn shares of Ezdan Real Estate were traded on special market.

The 20-stock Total Return Index and All Share Index (comprising wider constituents) gained 0.04% and 0.03% to 2,024.42 and 11,396.77 points. Both the indices factored in dividend income as well.

Major gainers included al khaliji, Qatari Investors Group, Barwa and Nakilat; even as Mazaya Qatar bucked the trend.

Under the All Share Index category, the transport index rose 0.32%, banks and financial services (0.24%), realty (0.24%) and insurance (0.13%); while the indices of industrials, telecom and consumer goods fell 0.34%, 0.22% and 0.01% respectively.

Market capitalisation was down 0.05% or QR21mn to QR460.46bn mainly due to a 0.09% fall in large cap equities; even as small, mid and micro caps gained 0.59%, 0.36% and 0.22% respectively.

Of the 42 stocks, 21 advanced, while 12 declined, four were unchanged and five were not traded.

Qatari individual investors continued to be bullish but with lesser vigour as their net buying fell to 0.14% from 0.69% the previous day. Their net buying amounted to QR1.53mn.

A lower 6.33% of them purchased equities compared to 10.73% on Tuesday and a lower 6.19% sold against 10.04%.

Non-Qatari retail investors were increasingly profit takers as their net selling rose to 0.94% from 0.01% the previous day. Their net selling was QR10.27mn.

A lower 1.87% of them were into buying against 3.96% on Tuesday and a lower 2.81% were into offloading against 3.97%.

Foreign institutions’ bearish grip marginally strengthened as their net selling was up to 0.87% from 0.84% the previous day. Their net selling was QR9.50mn.

A marginally lower 1.78% of them were into buying against 1.98% on Tuesday and a marginally lower 2.65% of them into selling compared to 2.82%.

Domestic institutions were increasingly bullish as their net buying soared to 1.67% from 0.17% the previous day. Their net buying was QR18.24mn.

A higher 90.02% of them bought equities compared to 83.33% on Tuesday and a higher 88.35% offloaded against 83.16%.

Total trading volume was down 6% to 51.12mn equities, value by 10% to QR1.09bn and deals by 37% to 2,510.

The insurance sector’s trading volume plummeted 84% to 0.09mn shares, value by 85% to QR4.29mn and transactions by 69% to 95.

The industrials sector’s trading volume plunged 61% to 0.40mn shares, value by 40% to QR25.64mn and deals by 45% to 307.

The consumer goods and services sector’s trading volume tanked 53% to 0.28mn shares, value by 35% to QR22.39mn and transactions by 35% to 401.

The transport sector’s trading volume declined 53% to 0.28mn shares, value by 49% to QR7.24mn and deals by 50% to 192.

The banks and financial services sector’s trading volume shrank 51% to 1.11mn shares, value by 51% to QR50.54mn and transactions by 33% to 876.

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