QSE ends winning streak but remains above 11,100 points

(MENAFN – Gulf Times) Arabs on Wednesday became net buyers on the Qatar Stock Exchange, which otherwise broke 10 consecutive days of bullishness.
Despite weakening net selling pressure from domestic funds and local retail investors, the Qatar 20-stock index fell 31 points or 0.28% to 11,135.15 points, after hitting an intraday high of 11,165 points.
Foreign establishments remained net buyers, but with less intensity in the market, with cumulative gains of 6.7%.
Real estate, insurance, transport and telecommunications counters experienced above-average selling pressure in the stock exchange, whose capitalization lost more than QR 2 billion or 0.35% to 641.19 billion of QR, mainly in small cap segments.
More than 64% of the traded components were in the red in the market, which saw the industrial and consumer goods and services sectors together constitute over 67% of the total trade volume.
Overall turnover and trading volume were increasing on the exchange, where the reserve of net profits of Gulf retail investors weakened.
The Islamic index fell faster than other market indices, which saw a total of 133,414 exchange-traded funds (QATR sponsored by Masraf Al Rayan and QETF sponsored by Bank of Doha) valued at 1.4 million QR change hands on 23 transactions.
The total return index fell 0.28% to 22,042.7 points, the All Share index fell 0.16% to 3,535.26 points and the Islamic Al Rayan index (price) fell 0.41 % to 2,518.87 points in the market which saw no trading in sovereign bonds and treasury bills.
The real estate sector index fell by 1.35%, insurance (0.71%), transport (0.54%), telecoms (0.32%), manufacturers (0.15%) and banks and financial services (0.03%); while consumer goods and services gained 0.13%.
The main losers are Ahlibank Qatar, Investment Holding Group, Salam International Investment, Ezdan, United Development Company, Qatar Islamic Bank, Commercial Bank, Dlala, Alijarah Holding, Aamal Company, Gulf International Services, Qamco, Qatar Insurance, QLM, Vodafone Qatar and Nakilat.
Nonetheless, Qatari German Medical Devices, Zad Holding, Mannai Corporation, Qatari Investors Group, Qatar National Cement and Gulf Warehousing were among the winners.
Arab individuals became net buyers to the tune of QR 7.09 million against net sellers of QR 6.38 million on August 24.
Net sales of domestic funds fell significantly to QR 12.48 million from QR 36.05 million on Tuesday.
Net sales from local retail investors fell significantly to QR 8.42 million from QR 28.76 million the day before.
Net sales by foreign individuals fell significantly to QR 1.23 million from QR 1.38 million on August 24.
The net income of individuals in the Gulf notably fell to 0.04 mn QR against 2.05 mn QR on Tuesday.
However, net purchases by foreign funds weakened considerably to QR 13.43 million from QR 69.92 million the day before.
Net purchases of Gulf funds also fell sharply to QR 1.64 million from QR 4.69 million on Tuesday.
Arab institutions had no major net exposure for the fourth consecutive session.
Total trade volume increased 26% to 169.67 million shares and value 8% to Q403.35 million, while trades fell 3% to 9,767.
The trade volume of the consumer goods and services sector tripled to 51.79 million shares and the value nearly tripled to 88.48 million QR on deals more than doubled to 1,736.
The industrial sector’s trade volume soared 25% to 62.09 million shares, the value by 34% to QR 107.64 million, and transactions less than 1% to 2,216.
Telecommunications sector trade volume increased 8% to 3.2 million shares and 40% in value to QR 13.62 million on deals more than doubled to 684.
However, the transport sector’s trade volume fell 62% to 1.98 million shares, the value 64% to QR 7.25 million, and trades 45% to 284.
The market saw a 38% drop in insurance trade volume to 2.27 million shares and 24% in value to QR 6.94 million but a 3% increase in transactions to 165 .
The trading volume of the banking and financial services sector fell 19% to 26.28 million shares, the value 22% to 145.3 million QR, and transactions 29% to 2,997.
The real estate sector saw a 7% contraction in transaction volume to 22.07 million shares, 9% in value to 34.12 million QR and 18% in transactions to 1,685.
In the venture capital market, Al Faleh gained 6.25%; while Mekdam Holding fell 1.22%.

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