Foreign funds turn bullish on the QSE

On Wednesday, foreign funds turned bullish on the Qatar Stock Exchange, which otherwise was on a roller coaster only to finally settle almost flat.
Arabs were increasingly inclined to buy net products as the Qatar 20-stock index closed just 0.03% higher at 10,916.13 points, having recovered from an intraday low of 10 886 points and reached an intraday high of 10,932 points.
More than 51% of constituents traded saw their stock prices appreciate in the market, whose year-to-date gains were 4.6%.
Insurance, consumer goods, banking and transport counters experienced above-average demand on the stock exchange, whose capitalization increased by more than QR 2 billion or 0.35% to 635.09 billion. QR, mainly due to the small and micro capitalization segments.
Gulf institutions were also seen as bullish in the market, with the industrial sector alone accounting for around 59% of total trading volume.
Overall revenue grew against a backdrop of declining volumes on the stock exchange, where foreign and local retail investors were increasingly net profit takers.
The Islamic index fell against the gains of other market indices, which saw a total of 55,250 exchange-traded funds (QATR sponsored by Masraf Al Rayan and QETF sponsored by Bank of Doha) valued at QR 544,785 change hand over seven offers; while in the debt market there was no trading of sovereign bonds and treasury bills.
The total return index rose 0.03% to 21,609.14 points and the All Share index increased 0.27% to 3,478.48 points, while the Islamic Al Rayan index (price) fell. from 0.36% to 2,496.46 points.
The insurance sector index fell 0.77%, consumer goods and services (0.53%), banks and financial services (0.5%) and transport (0.21%); while real estate gains 0.41%, manufacturers (0.32%) and telecoms (0.07%).
The main winners were Zad Holding, Commercial Bank, QNB, Doha Bank, Qatari Investors Group, Qatar National Cement, Qatar Electricity and Water, Qamco, Qatar Insurance and Milaha.
Still, Investment Holding Group, Qatari German Medical Devices, Qatar Islamic Bank, Qatar Oman Investment, Masraf Al Rayan, Dlala, Aamal Company, Industries Qatar, Gulf International Services and Mesaieed Petrochemical Holding were among the losers.
Foreign funds converted to net buyers at QRF 30.05 million compared to QR 5.13 million for net sellers on August 10.
Net purchases by Arab individuals increased considerably to reach QR 11.38 million from QR 1.23 million the day before.
Gulf funds were net buyers of QR 4.74 million against net buyers of QR 3.74 million on Tuesday.
However, the net sales of foreign individuals increased significantly to reach QR 26.95 million from QR 1.3 million on August 10.
Net sales of Qatari individuals also increased substantially to QR 17.55 million from QR 9.02 million the day before.
Domestic funds turned net sellers at QR 1.75 million against net buyers of QR 16.72 million on Tuesday.
Net purchases by individuals in the Gulf notably weakened to 0.07 MQQ against 1.25 MQ on August 10.
Arab institutions had no major net exposure for the ninth consecutive session.
Total trade volume fell 4% to 184.07 million shares, while value increased 3% to QR 399.65 million and trades 12% to 9,918.
The market saw a 51% drop in transport trade volume to 1.78 million shares, 55% in value to QR 5.97 million, and 22% in transactions to 353.
Real estate trade volume fell 10% to 12.74 million shares, value 15% to QR 17.28 million, and trades fell 24% to 610.
The market saw a 9% contraction in trade volume of the consumer goods and services sector to 32.9 million shares, but a 3% increase in value to QR 55.6 million and 7% transactions at 1,246.
The industrial sector’s trade volume fell 2% to 108.4 million shares, the value 15% to QR157.29 million, and transactions 5% to 3,327.
However, the insurance trade more than doubled to 1.98 million shares and the value nearly doubled to QR 5.89 million on a 68% expansion in trades to 229.
There was a 22% increase in trade volume in the telecommunications sector to 2.14 million shares, but a 19% contraction in value to QR 6.16 million despite transactions rising 1% to 358.
The banking and financial services sector saw transaction volume increase by 1% to 24.13 million shares, 47% in value to QR 151.47 million and 56% of transactions to 3,795.

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