The Qatar Stock Exchange had a volatile day on Monday, experiencing fluctuations before finally ending the day slightly higher. Despite this, there was strong buying support from foreign institutions throughout the day. The banking, transport, consumer goods, and telecom sectors saw higher than average demand, resulting in a slight increase of 0.08% in the 20-stock Qatar Index, bringing it to 10,962.95 points.
The net selling pressure from local retail investors weakened, which had a marginal influence on the main market. However, more than 53% of the traded constituents in the main bourse were in the red. Despite this, the year-to-date gains improved to 2.64%. The domestic institutions increasingly engaged in net selling, resulting in a decrease in the capitalization of the main market by QR0.75bn or 0.12% to QR642bn. Among the different market segments, microcaps had the most significant losses.
The Arab retail investors showed a bearish sentiment in the main bourse. There was a total of 0.11mn exchange-traded funds sponsored by Masraf Al Rayan and Doha Bank, with a value of QR0.39mn changing hands across 23 deals. During the day, Gulf institutions turned into net profit takers. However, there was no trading of sovereign bonds in the main market. Both the Islamic index and treasury bills experienced declines, compared to marginal gains in the other indices.
The Total Return Index increased by 0.08% and the All-Share Index by 0.09%. However, the Al Rayan Islamic Index (Price) had a decline of 0.03%. Trade turnover grew amidst lower volumes in the main bourse. The banks and financial services sector index gained 0.75%, while the transport, consumer goods and services, and telecom sectors also saw increases of 0.56%, 0.47%, and 0.4% respectively. On the other hand, the industrials sector shrank by 1.68%, while the real estate and insurance sectors experienced decreases of 0.46% and 0.31%.
Some major movers in the main market included Qatar Islamic Bank, United Development Company, QLM, Woqod, Baladna, Doha Bank, and Milaha. In the venture market, Al Faleh Educational Holding saw an appreciation in the value of its shares. Conversely, Qatar Oman Investment, Industries Qatar, Inma Holding, Qatar Islamic Insurance, Zad Holding, Masraf Al Rayan, Widam Food, Mesaieed Petrochemical Holding, Barwa, Ezdan, Mazaya Qatar, and Gulf Warehousing were among the shakers in the main market. In the junior bourse, Mahhar Holding saw its shares depreciate in value.
Foreign institutions showed a significant increase in net buying, reaching QR75.3mn compared to QR26.45mn on July 30. On the other hand, local retail investors’ net profit booking weakened to QR14mn against QR32.19mn the previous day. The domestic funds’ net selling strengthened substantially to QR34.15mn compared to QR17.4mn on Sunday. Arab individual investors turned net sellers, amounting to QR20.57mn against net buyers of QR10.2mn on July 30. Gulf institutions were net sellers to the extent of QR3.27mn compared with net buyers of QR10.99mn the previous day. Foreign retail investors turned net profit takers, with QR2.33mn against net buyers of QR1.69mn on Sunday. Gulf individuals were net sellers to the extent of QR1.01mn compared to net buyers of QR0.25mn on July 30. Arab institutions did not show any significant net exposure for the second consecutive session.
Trade volumes in the main market decreased by 3% to 191.95mn shares, but the value increased by 35% to QR526.68mn. The number of deals also increased by 55% to 18,510. Meanwhile, the venture market saw trade volumes more than double to 2.09mn equities, with a value that also more than doubled to QR4.74mn. This increase in volume and value was accompanied by a surge in transactions to 235.
In conclusion, the Qatar Stock Exchange experienced a roller-coaster day of trading, ultimately settling slightly higher. Foreign institutions provided strong buying support, while local retail investors’ net selling pressure weakened. Despite a significant percentage of traded constituents being in the red, the main market continued to improve its year-to-date gains. The different sectors of the market had mixed performance, with some experiencing gains and others facing declines. Overall, trade turnover increased, but trade volumes varied in the different markets.