Local retail investors and Gulf funds on Sunday turned bullish in the Qatar Stock Exchange, which otherwise opened the week weak.
The Gulf individuals continued to be net profit-takers but with lesser intensity even as the 20-stock Qatar Index settled 17 points or 0.16% lower at 10,440.5 points, recovering from an intraday low of 10,392 points. The foreign funds’ exposure was considerably lower.
The transport, real estate, insurance and banking counters experienced higher than average selling pressure in the bourse, which however, was up 0.04% year-to-date.
The Islamic index was seen declining slower than the other indices in the market whose capitalisation saw about QR1bn or 0.16% decrease to QR607.2bn, mainly owing to mid and small cap segments.
More than 57% of the traded constituents were in the red in the bourse, where the industrials and consumer goods and services sectors together accounted for more than 84% of the total trading volume.
A total of 38,950 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR296,799 changed hands across six deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index was down 0.16% to 20,659.46 points, All Share Index by 0.19% to 3,320.02 points and Al Rayan Islamic Index (Price) by 0.09% to 2,399.2 points.
The transport index shrank 0.92%, realty (0.58%), insurance (0.42%) and banks and financial services (0.39%); whereas telecom gained 0.47%, industrials (0.45%) and consumer goods and services (0.16%).
Major shakers included Al Khaleej Takaful, Dlala, Qatari German Medical Devices, Milaha, Inma Holding, United Development Company, QNB and Qatar Islamic Bank; even as Investment Holding Group, Qatar Industrial Manufacturing, Salam International Investment, Qatari Investors Group and Ooredoo were among the gainers.
The Arab individuals’ net profit booking grew noticeably to QR13.02mn compared to QR8.29mn on April 1.
Local retail investors’ net selling increased notably to QR9.52mn against QR3.72mn the previous trading day.
The foreign funds turned net sellers to the tune of QR7.26mn compared with net buyers of QR62.25mn last Thursday.
The foreign individuals’ net selling grew perceptibly to QR4.38mn against QR2.33mn on April 1.
The Arab funds turned net sellers to the extent of QR0.41mn compared with no major net exposure the previous trading day.
However, the domestic funds turned net buyers to the tune of QR24.97mn against net sellers of QR14.42mn last Thursday.
The Gulf institutions were net buyers to the extent of QR10.45mn compared with net sellers of QR28.84mn on April 1.
The Gulf individuals’ net profit booking eased markedly to QR0.79mn against QR4.69mn the previous trading day.
Total trade volume grew 29% to 248.15mn shares, while value fell 19% to QR342.54mn and transactions by 21% to 6,073.
The industrials sector’s trade volume more than tripled to 146.24mn equities and value more than doubled to QR138.95mn on 23% increase in deals to 1,963.
The consumer goods and services sector’s trade volume more than doubled to 62.24mn stocks, value soared 33% to QR101.94mn and transactions by 26% to 1,879.
However, the transport sector reported 78% plunge in trade volume to 1.37mn shares, 80% in value to QR4.76mn and 81% in deals to 156.
The banks and financial services sector’s trade volume plummeted 75% to 15.05mn equities, value by 73% to QR44.24mn and transactions by 61% to 823.
The market witnessed 66% shrinkage in the telecom sector’s trade volume to 10.9mn stocks, 57% in value to QR26.64mn and 28% in deals to 510.
The real estate sector’s trade volume tanked 37% to 9.2mn shares, value by 35% to QR13.42mn and transactions by 15% to 428.
There was 19% contraction in the insurance sector’s trade volume to 3.14mn equities, 19% in value to QR12.61mn and 27% in deals to 314.