Slightly higher QSE on purchase interest of foreign and domestic funds
The Qatar Stock Exchange recorded robust buying at the telecoms, real estate and insurance desks, although it stabilized slightly higher. Foreign funds were increasingly net buyers, with Qatar’s 20-stock index rising six points or 0.04% to 12,964.79 points, despite hitting an intraday high of 12,989 points. About 59% of traded constituents extended gains to investors in the market, whose year-to-date gains were 11.52%. Domestic institutions were also increasingly bullish on the stock market, whose capitalization saw QR 1 billion or a rise of 0.14% to QR 722.28 billion, mainly driven by the microcap segments. The Islamic index rose faster than other market indices, where the industrials, consumer goods and banking sectors together constituted more than 77% of total trading volume. Arab institutions were seen as net buyers, albeit at lower levels, on the exchange, which saw a total of 36,187 exchange-traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at 0.22 million QR change hands through 24 transactions. Local individuals were increasingly net profit takers in the market, which saw no sovereign bond trading. Turnover and total trading volumes were down on the exchange, which saw no trading in Treasuries. The total return index increased by 0.04% to 26,556.09 points, the All Share index by 0.04% to 4,137.64 points and the Al Rayan Islamic (price) index by 0.45 % at 2,825.12 points. The telecom sector index gained 1.1%, followed by real estate (0.63%), insurance (0.54%) and transport (0.07%); while banking and financial services fell by 0.05%, consumer goods and services (0.04%) and industrials (0.01%). The main winners in the main market are Qatar Industrial Manufacturing, Doha Insurance, Ahlibank Qatar, Gulf Warehousing, Alijarah Holding, Doha Bank, Masraf Al Rayan, Qatari German Medical Devices, Medicare Group, Al Meera, Salam International Investment, Mazaya Qatar, Ooredoo and Nakilat. In the venture capital market, Al Faleh Educational Holding and Mekdam Holding saw their shares rise in value. Nevertheless, Gulf International Services, Milaha, Mannai Corporation, Widam Food, Qatar Islamic Insurance and QNB were among the losers in the core market. Net purchases by overseas institutions increased significantly to QR 76.84 million from QR 51.07 million on June 7. Net purchases of domestic funds increased significantly to QR 30.24 million from QR 18.53 million on Tuesday. Arab institutions were net buyers at QR 0.05m against no major net exposure the previous day. However, net sales by Qatari individuals rose sharply to QR 75.87 million from QR 66.74 million on June 7. Net sales of Gulf institutions strengthened significantly to QR 14.99 million from QR 4.45 million on Tuesday. Arab individuals became net sellers at 11.52 million QR compared to net buyers of 4.38 million QR the previous day. Foreign individual net profit bookings increased significantly to QR 2.47 million from QR 1.13 million on June 7. Gulf retail net sales notably increased to QR 2.27 million from QR 1.66 million on Tuesday. Total trading volume in the main market fell 11% to 210.29 million shares, value fell 16% to QR 695.41 million, and trades fell 32% to 15,735. The industrial sector’s trading volume fell by 43% to 72.82 million shares, the value by 37% to 207 million QR and transactions by 50% to 3,524. However, the consumer goods and services sector reported a 49% increase in trading volume to 46.27 million shares, 7% in value to 76.86 million QR and 34% in trades to 1 970. Trading volume in the banking and financial services sector soared 32% to 43.59 million shares, while value fell 6% to QR 276.3 million and trades fell 33% to 7 110. There was an 18% expansion in insurance sector trading volume to 3.65 million shares and 25% in value to QR 13.24 million, but with a 6% decline in trades at 272. The real estate sector’s trading volume climbed 11% to 22.68 million shares, while the value fell 1% to QR 36.91 million and trades fell 32% to 1,170. The market saw a 4% gain in telecom trading volume to 5.48 million shares, 21% in value to 15.56 million QR and 17% in trades to 806. The transport sector’s trading volume increased by 4% to 15.81 million shares, while the value fell by 1% to 69.54 million QR and trades by 33% to 883. In the venture capital market, trading volumes soared 28.35% to 0.86 million shares and value 58.51% to QR 6.61 million, while transactions declined from 6.58% to 298.