QSE settles 18 points lower despite 64% stocks end higher

18/03/2025 04:55 AST

The foreign funds' increased net selling Monday dragged the Qatar Stock Exchange (QSE) as much as 18 points, even as its capitalisation made marginal gains.

The transport, banking, insurance and telecom counters witnessed higher than average selling pressure as the 20-stock Qatar Index shed 0.17% to 10,403.87 points, although it touched an intraday high of 10,438 points.

The local retail investors turned net profit takers in the main market, whose year-to-date losses widened further to 1.53%.

The Gulf individuals were increasingly net sellers in the main bourse, whose capitalisation however added QR0.87bn or 0.14% to QR610.16bn on the back of small cap segments.

The domestic institutions were however seen increasingly bullish in the main market, which saw as many as 0.02mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.11mn change hands across 10 deals.

The foreign individuals were seen increasingly net buyers in the main bourse, whose trade turnover and volumes were on the rise.

The Islamic index was seen gaining vis-à-vis declines in the other indices of the main market, which saw no trading of treasury bills.

The Gulf retail institutions turned bullish in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index was down 0.17% and the All Share Index by 0.13%; while the All Islamic Index rose 0.17% in the main market.

The transport sector index shed 1.4%, insurance (0.88%), banks and financial services (0.29%) and telecom (0.28%); whereas real estate gained 1.06%, consumer goods and services (0.89%) and industrials (0.41%).

Major losers in the main bourse Doha Insurance, Qatar General Insurance and Reinsurance, Nakilat, Qatar Islamic Bank and Qatar Insurance.

Nevertheless, as much as 64% of the traded constituents in the main market extended gains with major gainers being Qatar German Medical Devices, Widam Food, Ezdan, Salam International Investment, Mekdam Holding, Lesha Bank, Dukhan bank, Medicare Group, Baladna, Al Mahhar Holding, Mesaieed Petrochemical Holding, Aamal Company, Estithmar Holding and United Development Company. In the junior bourse, Techno Q saw its shares appreciate in value.

The foreign institutions' net profit booking increased noticeably to QR22.87mn compared to QR17.06mn on March 16.

The local retail investors turned net sellers to the tune of QR12.83mn against net buyers of QR2.57mn on Sunday.

The Gulf individual investors' net selling expanded perceptibly to QR2.16mn compared to QR0.15mn the previous day.

However, the domestic institutions' net buying strengthened significantly to QR34.19mn against QR16.48mn on March 16.

The foreign individual investors' net buying rose markedly to QR1.86mn compared to QR0.16mn on Sunday.

The Gulf institutions were net buyers to the extent of QR1.21mn against net sellers of QR0.85mn the previous day.

The Arab individual investors turned net buyers to the tune of QR0.6mn compared with net sellers of QR1.16mn on March 16.

The Arab institutions had no major for the 15th straight session.

The main market witnessed a 78% surge in trade volumes to 206.31mn shares and 91% in value to QR439.59mn but on 11% decline in deals to 26,734.

In the venture market, trade volumes surged 23% to 0.03mn equities, value by 23% to QR0.08mn and 25% in transactions to 10.

Gulf Times