Gulf funds profit booking pushes QSE below 12,200 points

The Qatar Stock Exchange fell below 12,200 points on Thursday despite buying interest at the insurance, real estate and consumer goods counters.
Gulf institutions were seen as net profit takers as the 20-stock Qatar index fell around 46 points or 0.37% to 12,191.3 points, after hitting an intraday high of 12,294 points. .
Domestic funds continued to be net sellers but with less momentum in the market, whose year-to-date gains stand at 4.86%.
Foreign institutions were increasingly seen as net purchases on the exchange, the capitalization of which saw more than QR 2 billion or 0.3% decline to QR 684.02 billion, mainly driven by the microcap segments .
The Islamic index declined more slowly than other market indices, where the consumer goods, industrials and banking sectors together constituted around 86% of total trading volume.
Local retail investors were increasingly bullish on the exchange, which saw a total of 0.04 million exchange-traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR 0.42 million change hands out of five transactions.
Arab individuals were seen as net buyers in the market, which saw no sovereign bond trading.
Turnover and total trading volumes were up on the exchange, which saw no trading in Treasuries.
The Total Return Index fell by 0.37 to 24,971.74 points, the All Share Index by 0.31% to 3,918.78 points and the Al Rayan Islamic (Price) Index by 0.08% at 2,634.46 points.
The transport sector index fell by 0.76%, banks and financial services (0.55%) and telecoms (0.41%); while insurance gains 0.96%, real estate (0.27%) and consumer goods and services (0.14%). The industry index remained stable.
Major agitators in the core market included Nakilat, Qatari German Medical Devices, Inma Holding, Dlala, Estithmar Holding, QNB, Ooredoo and Gulf Warehousing.
In the venture capital market, Al Faleh Educational Holding saw its shares depreciate.
Nevertheless, the winners included Qatar Islamic Insurance, Gulf International Services, Mannai Corporation, Qatari Investors Group, Widam Food, Alijarah Holding, Baladna, Qatar National Cement, Aamal Company, Qamco and Mazaya Qatar.
On the junior stock exchange, Mekdam Holding saw its shares appreciate in value.
Gulf institutions became net sellers of QR 28.23 million against net buyers of QR 6.16 million on June 29.
However, net purchases by foreign funds rose noticeably to QR 59.84 million from QR 55.27 million on Wednesday.
Net purchases by Qatari individuals strengthened significantly to QR 15.17 million from QR 5.77 million the previous day.
Arab individuals were net buyers of QR 2.58 million against net sellers of QR 9.17 million on June 29.
Gulf individuals became net buyers of QR 1.32 million against net sellers of QR 1.23 million on Wednesday.
Foreign individuals were net buyers at QR 0.8 million against net profit takers of QR 1.75 million the previous day.
The net sale of domestic funds decreased sharply to QR 51.48 million from QR 55.05 million on June 29.
Arab institutions had no major net exposure for the third consecutive session.
The total trading volume in the main market increased by 50% to 197.27 million shares, the value by 34% to 695.4 million QR and transactions by 2% to 16,291.
The transportation sector’s trading volume more than doubled to 6.49 million shares and the value nearly tripled to 32.33 million QR on trades that more than doubled to 1,119.
The industrial sector’s trading volume more than doubled to 86.75 million shares and the value also more than doubled to 210.73 million QR on a 60% increase in trades to 4,430.
Telecom sector trading volume nearly doubled to 4.71 million shares and value more than doubled to QR 22.79 million on trades more than doubled to 1,146.
The banking and financial services sector reported a 54% increase in trading volume to 41.09 million shares and 15% in value to QR 343.5 million, but a 23% contraction in trading at 7,097.
The real estate sector’s trading volume climbed 27% to 15.74 million shares and the value by 11% to QR 19.58 million, while transactions fell 5% to 794.
However, there was a 50% drop in insurance sector trading volume to 1.19 million shares, 56% in value to 3.15 million QR and 38% in trades to 125 .
Trade volume in the consumer goods and services sector fell 13% to 41.29 million shares, value fell 20% to QR 63.32 million, and trades fell 18% to 1,580.
The venture capital market saw trading volumes more than double to 0.47 million shares and value also more than double to QR 2.84 million on a nearly five-fold jump in trades to 179.

Last update: June 30, 2022 9:28 p.m.