Domestic funds bullish on QSE, even as index settles lower
March 21 2021 07:54 PM

Domestic funds were Sunday seen bullish on the Qatar Stock Exchange, which otherwise closed in the negative.
Buying interests of Gulf institutions and foreign individuals notwithstanding, the 20-stock Qatar Index settled more than 87 points, or 0.85% lower, at 10.217.53 points, having touched an intraday high of 10,289 points.
The transport and industrials sectors witnessed higher than average selling pressure on the bourse, whose year-to-date losses were at 2.09%.
More than 56% of the traded stocks were in the red on the market, whose capitalisation saw about QR3bn or 0.47% decline to QR594.7bn, mainly owing to midcap segments.
The Islamic index was seen easing slower than the main barometer on the bourse, where the local retail investors turned bearish.
Trade turnover and volumes were on the decline on the market, where the industrials and consumer goods sectors together accounted for about 67% of the trading volume.
A total of 190,750 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR1.9mn changed hands across 21 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index shed 0.85% to 20,198.58 points, All Share Index by 0.56% to 3,248.44 points and Al Rayan Islamic Index (Price) by 0.65% to 2,377.37 points.
The transport sector index tanked 1.89%, industrials (1.11%), banks and financial services (0.47%), real estate (0.37%) and telecom (0.33%); even as insurance gained 0.88% and consumer goods and services (0.32%).
Major losers included Baladna, Industries Qatar, Milaha, Qatar Industrial Manufacturing, Investment Holding Group, Mesaieed Petrochemical Holding, Commercial Bank, Qatari German Medical Devices, Ezdan and Nakilat.
Nevertheless, Mannai Corporation, Qatar National Cement, Ahlibank Qatar, Zad Holding, Aamal Company, Qatar First Bank, Qatar Oman Investment, Medicare Group, Salam International Investment, Qatar Insurance, Qatar Islamic Insurance and Al Khaleej Takaful were among the losers.
Local retail investors turned net sellers to the tune of QR41.94mn against net buyers of QR14.01mn on March 18.
Foreign institutions’ net buying declined considerably to QR3.32mn compared to QR39.9mn last Thursday.
Arab individuals’ net buying eased markedly to QR3.45mn against QR12.35mn the previous trading day.
However, domestic funds were net buyers to the extent of QR34.4mn compared with net sellers of QR48.2mn on March 18.
Gulf institutions turned net buyers to the extent of QR3.45mn against net sellers of QR0.18mn last Thursday.
Foreign individuals were net buyers to the tune of QR2.14mn compared with net sellers of QR0.55mn the previous trading day.
Gulf individuals’ net selling weakened significantly to QR2.04mn against QR17.42mn on March 18.
The Arab funds had no major net exposure compared with net profit takers to the extent of QR0.06mn last Thursday.
Total trade volume fell 54% to 182mn shares, value by 65% to QR319.15mn and transactions by 50% to 6,764.
The transport sector’s trade volume plummeted 71% to 1.67mn equities, value by 61% to QR8.37mn and deals by 47% to 228.
There was 59% plunge in the industrials sector’s trade volume to 75.18mn stocks, 64% in value to QR98.03mn and 53% in transactions to 2,099.
The banks and financial services sector’s trade volume tanked 56% to 25.24mn shares, value by 81% to QR67.08mn and deals by 58% to 1,500.
The real estate sector reported 50% shrinkage in trade volume to 8.97mn equities, 63% in value to QR13.27mn and 54% in transactions to 426.
The market witnessed 46% contraction in the consumer goods and services sector’s trade volume to 46.07mn stocks, 45% in value to QR84.48mn and 31% in deals to 1,946.
The telecom sector’s trade volume shrank 40% to 20.91mn shares, value by 46% to QR38mn and transactions by 63% to 345.
The insurance sector saw 31% decline in trade volume to 3.97mn equities, 37% in value to QR9.92mn and 38% in deals to 220.

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