QSE drops below 11,100 points despite buying support from foreign funds


The Qatar Stock Exchange fell below 11,100 levels on Tuesday despite the increase in purchase interest from foreign funds.
Local and Gulf retail investors were deemed bullish even as the 20-stock Qatar index lost 15 points or 0.13% to 11,092.9 points, despite hitting an intraday high of 11,109 points.
Four of the seven sectors, however, were in the spotlight on the market, whose year-to-date gains were 6.29%.
About 57% of the components traded were in the red of the exchange, whose capitalization declined by QR 27 million or 0.04% to QR 640.02 billion, mostly in the microcap segments.
Telecommunications, industry and real estate counters experienced above-average selling pressure in the market, with the industry and consumer goods and services sectors together accounting for around 66% of total volume transactions.
Overall turnover increased against a backdrop of declining volumes on the stock exchange, where domestic institutions were increasingly net profit takers.
The Islamic index declined more slowly than other market indices, which saw a total of 21,624 exchange-traded funds (QATR sponsored by Masraf Al Rayan) valued at QR 53,669 change hands in six trades.
The total return index fell 0.13% to 21,959.07 points, the All Share index fell 0.05% to 3,526.39 points and the Islamic Al Rayan index (price) fell 0.01 % to 2,515.68 points in the market which saw no trading in sovereign bonds and treasury bills.
The telecommunications sector index fell by 0.93%, manufacturers (0.77%) and real estate (0.43%); while consumer goods and services gained 0.73%, insurance (0.5%), transport (0.16%) and banking and financial services (0.14%).
The main losers are Zad Holding, Industries Qatar, Investment Holding Group, Ooredoo, Al Khaleej Takaful, QIIB, Gulf International Services, Barwa, United Development Company and Mazaya Qatar.
Nonetheless, Qamco, Qatari German Medical Devices, Doha Bank, Woqod, QLM, QNB, Qatar Oman Investment, Mannai Corporation, Baladna, Qatar Insurance, Ezdan and Milaha were among the winners.
Net sales of domestic funds increased significantly to QR 53.97 million from QR 12.25 million on August 30.
Gulf institutions turned net sellers of QR 6.18 million against net buyers of QR 12.07 million the day before.
Arab individuals were net sellers of QR 4.36 million against net buyers of QR 0.09 million on Monday.
Foreign individuals became net profit takers of QR 0.6 million against net buyers of QR 0.21 million on August 30.
However, net purchases by foreign institutions increased significantly to reach QR 55.39 million from QR 11.68 million the previous day.
Local retail investors were net buyers of QR 8.59 million against net sellers of QR 11.8 million on Monday.
Gulf individuals became net buyers at QR 1.07 million against net sellers of QR 0.01 million on August 30.
Arab institutions were seen as net buyers to the tune of QR 0.07 million against no major net exposure in the past seven consecutive sessions.
Total trade volume fell 6% to 191.66 million shares, while value rose 53% to Q643.65 million and trades 5% to 10,857.
Real estate trading volume fell 31% to 15.26 million shares, 5% to QR 24.98 million, and transactions fell 27% to 806.
The industrials sector reported a 28% drop in trading volume to 74.31 million shares, but a 16% increase in value to QR 187.06 million despite an 11% drop in trades to 3,184 .
However, the transport sector’s trade volume more than quintupled to 6.62 million shares, and its value more than quadrupled to QR 21.98 million, with transactions jumping 64% to 345.
The insurance sector’s trade volume more than tripled to 4.97 million shares and the value more than doubled to QR 13.72 million on a 12% expansion of transactions to 181.
The telecommunications sector’s trade volume soared 70% to 5.32 million shares and the value more than tripled to QR 33.12 on a 52% growth in transactions to 978.
There was a 26% increase in the volume of trade in the consumer goods and services sector to 52 million shares, 70% in value to 114.37 million QR and 42% in transactions to 1,832.
The trading volume of the banking and financial services sector increased by 3% to 33.19 million shares, its value by 70% to QR 248.42 million and transactions by 6% to 3,531.
In the venture capital market, Al Faleh and Mekdam Holding gained 0.72% and 3.74% respectively.


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