QSE sheds bearish trend as foreign, domestic institutions turn bullish
(5/14/2018 8:21:00 AM)
The Qatar Stock Exchange opened the week stronger, after reaming under bearish spell for the previous three sessions, as foreign and domestic institutions turned bullish.
Strong buying, particularly in the real estate and industrials counters, helped the 20-stock Qatar Index gain 0.77% to 8,816.84 points. Masraf Al Rayan and Doha Bank sponsored exchange traded funds QATR and QETF however reported 0.5% and 0.17% declines respectively.
Nevertheless, local and Gulf individuals turns bearish and there was lower buying support from their non-Qatari counterparts in the market, which is up 3.44% year-to-date.
Buying was seen more pronounced within mid and large cap segments in the bourse, whose capitalisation gained 0.6% to QR485.27bn.
Trade turnover and volumes were on the decline in the market, where banking and telecom sectors together accounted for about 63% of the total volume. The Total Return Index gained 0.77% to 15,534.29 points, All Share Index by 0.62% to 2,575.32 points and Al Rayan Islamic Index (Price) by 0.52% to 2,197.35 points.
The realty index soared 1.16%, industrials (0.86%), banks and financial services (0.66%), transport (0.41%), telecom (0.33%) and insurance (0.14%); while consumer goods declined 0.76%.
More than 58% of the traded stocks extended gains with major movers being Mazaya Qatar, Industries Qatar, Barwa, Qatari Investors Group, Nakilat, QNB, Commercial Bank, Qatar Oman Investment, Alijarah Holding and Salam International Investment; even as Ahli Bank, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Gulf International Investment and Gulf Warehousing were among the sellers.
Non-Qatari institutions turned net buyers to the tune of QR13.82mn against net sellers of QR12.33mn on May 10. Domestic institutions were also net buyers to the extent of QR2.18mn compared with net sellers of QR12.03mn last Thursday. The Gulf institutions’ net profit booking weakened marginally to QR2.96mn against QR3.58mn the previous trading day.
However, local individuals turned net sellers to the tune of QR11.86mn compared with net buyers of QR20.04mn on May 10. The Gulf individuals were also net profit takers to the extent of QR2mn against net buyers of QR0.74mn last Thursday.
Non-Qatari individuals’ net buying declined considerably to QR0.79mn compared to QR7.19mn the previous trading day. Total trade volume fell 9% to 10.03mn shares, value by 22% to QR184.79mn and transactions by 25% to 3,035.
The insurance sector saw 80% plunge in trade volume to 0.08mn equities, 80% in value to QR2.59mn and 71% in deals to 81. The telecom sector’s trade volume plummeted 44% to 2.7mn stocks, value by 38% to QR33.67mn and transactions by 29% to 402.
The transport sector reported 35% shrinkage in trade volume to 0.17mn shares, 40% in value to QR2.71mn and 35% in deals to 118.
The consumer goods sector’s trade volume tanked 11% to 0.25mn equities, value by 21% to QR17.19mn and transactions by 29% to 263.
However, there was 87% surge in the real estate sector’s trade volume to 1.81mn stocks, 20% in value to QR17.01mn and 24% in deals to 614.
The banks and financial services sector’s trade volume soared 26% to 3.6mn shares, whereas value shrank 17% to QR76.21mn and transactions by 29% to 933.
The market witnessed 1% rise in the industrials sector’s trade volume to 1.41mn equities but on 5% fall in value to QR35.41mn and 26% in deals to 624. In the debt market, there was no trading of treasury bills and sovereign bonds.