The Qatar Exchange remained bullish for the fifth consecutive day yesterday despite strong selling pressure from local retail investors.

Domestic institutions were rather brisk in buying as the QE Index (based on price data) rose by a marginal 0.05% to 8,344.87 points. The market is, however, down 4.95% year-to-date.

Total Return Index was up 0.05% to 2,007.27 points while All Share Index (comprising wider constituents) fell 0.11% to 11,293.63 points. Both the indices factored in dividend income as well.

Major gainers included National Leasing, Mawashi, Qatari Investors Group, Gulf International Services and Qatar Telecom; even as QNB, Commercialbank, Barwa, Mazaya Qatar, Gulf Warehousing and Milaha bucked the trend.

Under the All Share Index category, the realty index shrank 0.69%, transport (0.59%), banks and financial services (0.28%), industrials (0.15%) and insurance (0.11%); while the indices of telecom and consumer goods rose 1.95% and 0.03% respectively.

Market capitalisation was down QR2mn to QR457.15bn with mid and micro cap equities losing 0.56% and 0.27% respectively; while large caps rose 0.10%.
Of the 42 stocks, only 11 advanced, while 22 declined, five were unchanged and four were not traded.

Qatari individual investors were increasingly bearish as their net selling zoomed to 21.70% from 0.69% the previous day. Their net selling amounted to QR59.23mn.
A much lower 39.55% of them purchased equities compared to 52.21% on Sunday while a higher 61.25% sold against 52.90%.

Non-Qatari retail investors continued to be bearish but with lesser intensity as their net selling fell to 0.09% from 1.49% the previous day. Their net selling was QR0.25mn.

A lower 11.56% of them were into buying against 19.29% on Sunday and a lower 11.65% were into offloading against 20.78%.

Foreign institutions’ bullish grip strengthened as their net buying rose to 3.06% from 2.41% the previous day. Their net buying was QR8.35mn.

A higher 18.28% of them were into buying against 13.08% on Sunday and a higher 15.22% of them into selling compared to 10.67%.

Domestic institutions turned bullish that they were net buyers to the extent of 18.73% against net sellers of 0.22% the previous day. Their net buying was QR51.13mn.

A much higher 30.61% of them bought equities compared to 15.42% on Sunday whereas a lower 11.88% offloaded against 15.64%.

Total trading volume fell 22% to 5.96mn equities, while value rose 14% to QR272.97mn but deals were down 16% to 3,088.

The telecom sector’s trading volume plummeted 71% to 0.18mn shares, value by 70% to QR2.95mn and transactions by 66% to 94.

The real estate sector’s trading volume plunged 64% to 0.97mn shares, value by 58% to QR18.40mn and deals by 57% to 351.

The transport sector’s trading volume tanked 47% to 0.23mn shares, value by 42% to QR7.81mn and transactions by 46% to 197.

The consumer goods and services sector’s trading volume declined 39% to 0.74mn shares, value by 34% to Q40.15mn and deals by 43% to 550.

The insurance sector’s trading volume shrank 27% to 0.08mn shares, value by 25% to QR4mn and transactions by 57% to 351.

However, the industrials sector’s trading volume surged 64% to 1.08mn shares, value by 98% to QR41.01mn and deals by 26% to 558.

The banks and financial services sector’s trading volume surged 40% to 2.68mn shares, value by 86% to QR158.65mn and transactions by 25% to 1,250.

Actively traded stocks (in terms of volume) were NLC (1.07mn shares); Qatari Investors Group (628,055); QNB (524,985); Mawashi (436,608) and Mazaya Qatar (383,022).

Reuters adds: Dubai’s bourse fell yesterday, giving back gains from the previous day’s rally, as investors booked profits on property stocks and weak earnings from Dubai Investments dampened sentiment.

Dubai’s index ended 1% lower at 1,559 points giving back gains from a 13-week peak on Sunday.

Abu Dhabi’s benchmark dropped 0.3% to 2,505 points while Saudi’s benchmark and Kuwait’s index ended near-flat, both slipping 0.02% to 6,944 points and 5,732 points, respectively.

The Oman measure declined 0.08% to 5,434 points, while Bahrain’s declined 0.5% to 1,090 points.

Elsewhere, Egypt’s index dropped 0.3% to 5,022 points.