Arab individuals and Gulf funds turn bullish on QSE

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The Qatar Stock Exchange on Sunday saw local and Arab individuals as well as Gulf funds turn bullish even as it stood 34 points lower.
Foreign funds continued to be net buyers but with less intensity as the Qatar 20-stock index fell 0.31% to 10,730.61 points, ending three consecutive days of gains. The index had hit an intraday high of 10,778 points.
Consumer goods, real estate and insurance outlets experienced above-average selling pressure in the market, with year-to-date gains of 2.82%.
Five of the seven sectors were in the red of the stock market, whose market cap saw QR 22 million or 0.04% decline to QR 623.97 billion, mostly due to the micro-capitalization segments.
National institutions have increasingly turned to net selling in the market, which has seen the industrial and real estate sectors together constitute over 52% of the total transaction volume.
Overall turnover and trade volumes were declining in the market, where foreign retail investors became net profit takers.
Gulf individuals increasingly turned to net selling on the stock exchange, which saw a total of 1.19 million Masraf Al Rayan-sponsored exchange-traded funds valued at QR 3.04 million changed from hands on 132 transactions; while in the debt market there was no trading of sovereign bonds and treasury bills.
The total return index fell 0.31% to 21,241.88 points, the Islamic Al Rayan (price) index 0.27% to 2,513.54 points and the All Share index fell 0.16 % at 3,408.14 points.
The index of the consumer goods and services sector fell by 0.59%, real estate (0.53%), insurance (0.52%), banks and financial services (0.17%) and telecoms (0.14%). while transport and industry gained 0.23% and 0.08% respectively.
The main losers were Barwa, Commercial Bank, Woqod, Al Khaleej Takaful, QIIB and Qatar General Insurance and Reinsurance; although Inma Holding, Alijarah Holding, Medicare Group, Qatari Investors Group, Milaha, Qatar First Bank, Zad Holding, Salam International Investment, Qatar National Cement, Aamal Company and Mazaya Qatar were among the winners.
Net sales of national institutions increased significantly to reach QR 28.25 million from QR 9.66 million on May 27.
Foreign individuals were net sellers of QR 4.24 million against net buyers of QR 11.19 million last Thursday.
The net profit taking of individuals in the Gulf increased significantly to QR1.91mn against QR0.11mn the previous trading day.
Net purchases by foreign funds dropped significantly to QR 14.12 million from QR 52.13 million on May 27.
However, Arab individuals became net buyers to the tune of QR 9.2 million against net sellers of QR 4.96 million last Thursday.
Qatari citizens became net buyers to the tune of QR 8.17 million against net sellers of QR 42.09 million on the previous trading day.
Gulf institutions turned net buyers of QR 2.86 million against net profit takers of QR 6.48 million on May 27.
Arab funds still have not had major net exposure.
Total trading volume fell 44% to 190.95 million shares, value 70% to QR381.73 million, and trades 44% to 7,980.
The transport sector’s trade volume fell 76% to 1.95 million shares, a value of 73% to QR7.41 million and 45% of trades to 254.
The insurance industry reported a 75% drop in trade volume to 1.85 million shares, 72% in value to QR 7.26 million, and trades 62% to 173.
The telecommunications sector’s trade volume reached 67% to 2.69 million shares, a value of 80% to QR7.49 million, and transactions 72% to 249.
There was a 56% contraction in the volume of trade in the industrial sector to 54.64 million shares, 77% in value to QR109.76 million and 60% of trades to 1,983.
The banking and financial services sector’s trade volume declined 51% to 42.97 million shares, a value of 77% to QR121.53 million, and trades 41% to 2,802.
The market saw a 36% contraction in volume of trade in the consumer goods and services sector to 42.02 million shares, 54% in value to 60.85 million QR and 32% in transactions to 1,298.
However, the real estate sector’s trade volume climbed 23% to 44.82 million shares, the value 13% to QR67.42 million, and transactions 30% to 1,221.

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