The Qatar Stock Exchange (QSE) on Monday failed to break the resistance level of 12,000 points as it settled marginally lower despite strong buying interests of foreign institutions.
Four of the seven sectors were under buying spotlight; yet the 20-stock Qatar Index was down two points or 0.02% to 11,970.86 points, although it recovered from an intraday low of 11,946 points.
The Islamic index was seen gaining vis-à-vis declines in the other indices in the market, whose year-to-date gains were at 14.71%.
The Arab individuals turned net sellers in the bourse, whose capitalisation saw QR25mn or 0.04% fall to QR691.1bn, mainly owing to microcap segments.
The domestic funds were increasingly net profit takers in the market, which saw the industrials and banking sectors together constituted more than 63% of the total trading volume.
The overall trade turnover and volumes were on the increase in the bourse, where the foreign individuals were seen net sellers.
The local real investors continued to be net sellers but with lesser vigour in the market, which saw a total of 7,448 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR24,363 changed hands across seven deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index was down 0.02% to 23,697.03 points and All Share Index by 0.01% to 3,788.22 points, while Al Rayan Islamic Index (Price) rose 0.11% to 2,670.92 points.
The industrials index shrank 0.5% and insurance (0.03%); whereas telecom gained 0.58%, real estate (0.43%), consumer goods and services (0.33%) and banks and financial services (0.12%). The transport index was rather flat.
Major losers in the main market included Qatari German Medical Devices, QLM, Al Khaleej Takaful, Qatari Investors Group, Qatar Industrial Manufacturing, Industries Qatar, Aamal Company and Mazaya Qatar. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their stocks lose sheen.
Nevertheless, Gulf Warehousing, Qamco, Doha Bank, Mannai Corporation, Widam Food, Ahlibank Qatar, Inma Holding, Salam International Investment, Widam Food, Barwa and Ooredoo were among the gainers in the main market.
The domestic funds’ net selling increased substantially to QR85,73mn against QR22.46mn on November 7.
The Arab individuals turned net sellers to the tune of QR15.67mn compared with net buyers of QR6.84mn on Sunday.
The foreign individuals were net seller to the extent of QR1.16mn against net buyers of QR1.4mn the previous day.
However, the foreign funds’ net buying rose significantly to QR101.02mn compared to QR48.64mn on November 7.
The Gulf institutions’ net buying strengthened considerably to QR13.27mn against QR1.51mn on Sunday.
Qatari individuals’ net selling weakened notably to QR10.78mn compared to QR34.68mn the previous day.
The Gulf individuals’ net profit booking eased marginally to QR0.94mn against QR1.24mn on November 7.
The Arab institutions had no major net exposure compared with net sellers of QR0.03mn on Sunday.
Total trade volume in the main market rose 26% to 170.24mn shares, value by 46% to QR500.34mn and transactions by 57% to 10,820.
The banks and financial services sector’s trade volume more than doubled to 45.94mn equities and value also more than doubled to QR229.1mn on almost doubled deals to 4,589.
The consumer goods and services sector’s trade volume soared 23% to 27.69mn stocks, value by 30% to QR49.73mn and transactions by 33% to 1,035.
The market witnessed a 22% surge in the industrials sector’s trade volume to 61.59mn shares, 24% in value to QR124.54mn and 36% in deals to 2,596.
The transport sector’s trade volume was up 12% to 4.93mn equities, while value declined 8% to QR26.38mn despite 7% higher transactions at 458.
However, there was a 29% plunge in the telecom sector’s trade volume to 3.06mn stocks but a 47% expansion in value to QR18.66mn amidst almost tripled deals to 1,120.
The real estate sector’s trade volume tanked 17% to 25.42mn shares and value by 9% to QR46.85mn, while transactions rose 1% to 907.
The insurance sector reported a 4% contraction in trade volume to 1.61mn equities, 1% in value to QR5.08mn and 9% in deals to 115.
In the venture market, the volume, value and transactions were seen expanding 29.47%, 48.88% and 75% respectively.