Foreign funds show strong buying interests at the Qatar Stock Exchange
Despite the key barometer declining approximately 14 points, recent reports show strong buying interests from foreign funds at the Qatar Stock Exchange. There was also higher than average selling pressure for consumer goods, insurance counters, real estate, and industrials. In the middle of weakening trading activities, the 20-stock Qatar Index settled 0.13% lower. It is now at 10,680.64 points.
Net selling from the Gulf individuals increased on the market, while the Gulf funds showed bearish trends.
Due to microcap segments, there was a 0.09% decline for market capitalisation, which is also equivalent to a decline to QR593.76bn. Speaking of declines, Islamic stocks also behaved the same way. This is in relation to the faster decline compared to other indices on the bourse. There is lesser intensity for local retail investors, but they continue to be net sellers nonetheless. Trade turnover and volumes were on the decline as well. This refers to banking and realty sectors that account for more than 66% of the total volume.
The All Share Index shed 0.06% to 3,169.82 points. Meanwhile, the Al Rayan Islamic Index (Price) shed 0.21% to 2,354.95 points, and the Total Return Index by 0.13% to 19,653.28 points. Furthermore, the industrials index declined 0.71%, with insurance (0.18%), real estate (0.22%), and consumer goods (0.52%).
On the other hand, telecom (0.09%), transport (0.06%), and banks and financial services gained 0.23%.
It’s important to note that the net profit booking of the Gulf individuals expanded to QR6.96mn. This is in comparison to QR0.44mn on January 21st.
Meanwhile, over 53% of the traded constituents were in the red. The gainers were Vodafone Qatar, Qatari German Company for Medical Devices, Mazaya Qatar, QNB, Qatar General Insurance and Reinsurance, Qatar Islamic Bank, and Qatar First Bank. The major losers included Qatar Industrial Manufacturing, Doha Bank, Alijarah Holding, Qatari Investors Group, Doha Insurance, and Qatar Electricity and Water.
Both foreign and local investors should be mindful of the performance of all the stocks and funds on the market to ensure that all investment opportunities are maximised and optimal investment channels are explored. Furthermore, all business endeavours and decisions must be established with the performances of the relevant stocks in mind. This enables both local and foreign corporations to be as cost-efficient as they can be on the road to financial and corporate success to benefit the overall investment landscape of Qatar.
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