QSE remains flat despite strong buying interests in Islamic equities

T he Qatar Stock Exchange largely remained flat yesterday despite strong buying interests in the Islamic equities. The 20-stock Qatar Index was at 9,447.76 points amidst weakening net selling by local retail investors. Masraf Al Rayan sponsored exchange traded fund QATR witnessed 1.86% gains.

The realty, banking and telecom counters witnessed selling pressure on the market, which reported 10.85% year-to-date. viduals However, and non-Qatari Gulf institutions inditurned bullish on the bourse, whose capitalisation was down 0.36% to QR513.52bn, mainly owing to small and large caps. higher Trade volumes turnover in grew the market, amidst where telecom, banking and real estate sectors together accounted for more than 76% of the total volume. The Total Return Index was down 0.02% to 16,645.91 points and All Share Index by 0.17% to 2,718.64 points, while Al Rayan Islamic Index (Price) grew 0.37% to 2,326.52 points. The realty index shrank

0.84%, banks and financial services (0.38%) and telecom (0.27%); whereas insur- ance gained 1.34%, industrials (0.24%), transport (0.06%) and consumer goods (0.03%). Major losers included QNB, Ahlibank, Gulf International Services, Ezdan, Ooredoo, Gulf Warehousing and Nakilat; even as Qatar Insurance, Qatar Islamic Bank, QIIB, Zad Holding, Qatari Investors Group and Aamal Company were among the gainers.

Non-Qatari institutions’ net buying weakened significantly to QR2.59mn compared to QR22.51mn on July 17.

Domestic institutions’ net buying also declined considerably to QR3.42mn against QR17.42mn the previous day.

However, non-Qatari individuals turned net buyers to the tune of QR2.99mn compared with net sellers of QR1.62mn on Tuesday.

The Gulf institutions were also net buyers to the extent of QR1.46mn against net profit takers of QR2.17mn on July 17.

Local individual investors’ net selling shrank substantially to QR20.15mn compared to QR36.13mn the previous day.

Total trade volume fell 19% to 6.25mn shares, while value rose 24% to QR235.38mn despite 21% lower transactions at 2,583.

The transport sector’s trade volume plummeted 88% to 0.26mn equities, value by 84% to QR5.75mn and deals by 42% to 221. The consumer goods sector reported 44% plunge in trade volume to 0.42mn stocks, 1% in value to QR40.9mn and 11% in transactions to 400. The industrials sector’s trade volume tanked 39% to 0.38mn shares, value by 40% to QR12.96mn and deals by 36% to 418 However, there was 66% surge in the real estate sector’s trade volume to 1.01mn equities, 13% in value to QR11.21mn and 7% in transactions to 384. The insurance sector’s trade volume soared 28% to 0.41mn stocks and value by 32% to QR14.89mn, while deals were down 10% to 171. The telecom sector saw 20% expansion in trade volume to 2.24mn shares and 7% in value to QR23.14mn but 35% fall in transactions to 203. The banks and financial services sector’s trade volume grew 12% to 1.52mn equities to see more than doubled value to QR126.53mn despite 15% lower deals at 786. In the debt market, there was no trading of treasury bills and sovereign bonds.

Non-Qatari individuals and Gulf institutions turned bullish on the bourse, whose capitalisation was down 0.36% to QR513.52bn, yesterday, mainly owing to small and large caps