Qatar shares edge higher on local buying interest

Local retail investors’ buying yesterday drove the Qatar Exchange back onto a positive trajectory. Mainly paced by large and mid cap equities, the QE Index (based on price data) rose 0.16% to 8,267.36 points. The market is down 5.83% year-to-date. The All Share Index (comprising wider constituents) and the Total Return Index also gained 0.21% and 0.16% to 1,992.91 and 11,188.72 points respectively. Both the indices factored in dividend income as well. Major losers included QNB, Qatari Investors Group, Mazaya Qatar, Milaha and Nakilat; even as Vodafone Qatar bucked the trend. Under the All Share Index category, the transport index gained 0.67%, followed by banks and financial services (0.31%), industrials (0.28%) and realty (0.06%); while the indices of consumer goods, insurance and telecom fell 0.46%, 0.27% and 0.23% respectively. Market capitalisation was up 0.25% or more than QR1bn to QR453.42bn with large, mid and small cap equities gaining 0.27%, 0.22% and 0.20% respectively; while micro caps fell 0.46%. Of the 42 stocks, 15 gained, while 17 declined, six were unchanged and four were not traded. Qatari individual investors turned bullish as they were net buyers to the tune of 6.13% against net sellers of 0.42% the previous day. Their net buying amounted to QR8.30mn. A higher 45.37% of them purchased equities compared to 40.66% on Wednesday whereas a lower 39.24% sold against 41.08%. Foreign institutions were increasingly bullish as their net buying rose to 2.63% from 1.61% the previous day. Their net buying was QR3.56mn. A higher 27.77% of them were into buying against 23.27% on Wednesday and a higher 25.14% of them into selling compared to 21.66%. Non-Qatari retail investors continued to be profit-takers but with lesser vigour as their net selling sunk to 3.78% from 9.66% the previous day. Their net selling was QR5.12mn. A lower 16.58% of them were into buying against 19.56% on Wednesday and a lower 20.63% were into offloading against 29.22%. Domestic institutions turned bearish that they were net sellers to the extent of 4.98% against net buyers of 8.48% the previous day. Their net selling was QR6.75mn. A lower 10.01% of them bought equities compared to 16.51% on Wednesday while a higher 14.99% offloaded against 8.03%. Total trading volume shrank 36% to 4.98mn equities, value by 23% to QR135.46mn and deals by 17% to 2,567. The telecom sector’s trading volume plummeted 81% to 0.48mn shares, value by 70% to QR8.78mn and transactions by 65% to 159. The consumer goods and services sector’s trading volume plunged 69% to 0.19mn shares, value by 36% to QR7.99mn and deals by 16% to 152. The industrials sector’s trading volume tanked 40% to 0.50mn shares, value by 44% to QR27.32mn and transactions by 36% to 442. The insurance sector’s trading volume declined 33% to 0.02mn shares, value by 30% to QR1.26mn and deals by 39% to 27. The real estate sector’s trading volume fell 16% to 0.74mn shares, value by 10% to QR12.43mn and transactions by 18% to 297. The banks and financial services sector’s trading volume was down less than 1% to 2.43mn shares, while value rose 13% to QR64.63mn and deals by 1% to 1,098. However, the transport sector’s trading volume expanded 11% to 0.62mn shares, value by 7% to QR13.09mn and transactions by 48% to 392. Actively traded stocks (in terms of volume) were Qatar Oman Investment (1.74mn shares); Nakilat (544,237); Mazaya Qatar (461,882); Vodafone Qatar (434,092) and Masraf Al Rayan (256,120). In the debt market, there was no trading.