Trans­port, in­dus­tri­als drag QSE down

Gulf Times Business - - BUSINESS - By San­thosh V Peru­mal

The Qatar Stock Ex­change yes­ter­day dis­played strong bearish sen­ti­ments and its key in­dex re­treated be­low 9,900 lev­els mainly dragged down by trans­port and in­dus­tri­als eq­ui­ties.

For­eign funds’ net buy­ing weak­ened amidst 1.03% plunge in the 20-stock Qatar In­dex to 9,861.53 points, which is how­ever up 15.7% year-to-date.

How­ever, lo­cal and Gulf re­tail in­vestors turned bullish and there was a weak­ened net sell­ing from do­mes­tic funds in the mar­ket, which also saw Is­lamic eq­ui­ties de­cline slower than the other in­dices.

Doha Bank- and Mas­raf Al Rayan-spon­sored ex­change traded funds QETF and QATR re­ported 0.51% and 0.89% de­clines re­spec­tively.

Trade turnover and vol­umes were on the de­cline in the bourse, where the bank­ing and real es­tate sec­tors to­gether ac­counted for about 48% of the to­tal vol­ume.

The To­tal Re­turn In­dex shed 1.03% to 17,374.91 points, the All Share In­dex by 0.77% to 2,910 points and the Al Rayan Is­lamic In­dex (Price) by 0.9% to 2,346.91 points.

The trans­port in­dex shrank 2.03%, in­dus­tri­als (1.43%), in­surance (0.94%), con­sumer goods (0.77%), banks and fi­nan­cial ser­vices (0.63%) and tele­com (0.19%); while realty gained 0.13%.

More than 85% of the traded stocks were in the red with ma­jor losers Gulf In­ter­na­tional Ser­vices, Nak­i­lat, Mi­laha, In­dus­tries Qatar, Me­saieed Petro­chem­i­cal Hold­ing, Qatari In­vestors Group, Com­mer­cial Bank, Qatar Is­lamic Bank, Qatar First Bank, Salam In­ter­na­tional In­vest­ment, Wi­dam Food and Qatar Is­lamic In­surance.

Non-Qatari in­sti­tu­tions’ net buy­ing weak­ened sig­nif­i­cantly to QR4.74mn com­pared to QR54.23mn the pre­vi­ous day.

How­ever, lo­cal in­di­vid­ual in­vestors turned net buy­ers to the tune of QR4.09mn against net sell­ers of QR36.3mn on Wed­nes­day.

The Gulf in­di­vid­ual in­vestors were also net buy­ers to the ex­tent of QR0.49mn com­pared with net sell­ers of QR0.47mn on Oc­to­ber 10.

Do­mes­tic in­sti­tu­tions’ net profit book­ing de­clined in­flu­en­tially QR11.92mn against QR16.67mn the pre­vi­ous day.

Non-Qatari re­tail in­vestors’ net sell­ing de­clined per­cep­ti­bly to QR4.31mn com­pared to QR7.48mn on Wed­nes­day.

The Gulf in­sti­tu­tions’ net buy­ing in­creased marginally to QR67.89mn com­pared to QR6.67mn on Oc­to­ber 10.

To­tal trade vol­ume fell 10% to 5.64mn shares, value by 25% to QR195.77mn and trans­ac­tions by 18% to 3,189.

The trans­port sec­tor’s trade vol­ume plum­meted 33% to 0.83mn eq­ui­ties, value by 40% to QR16.18mn and deals by 8% to 328.

The in­dus­tri­als sec­tor re­ported 19% plunge in trade vol­ume to 0.72mn stocks, 33% in value to QR39.34mn and 34% in trans­ac­tions to 583.

The real es­tate sec­tor’s trade vol­ume tanked 18% to 1.24mn shares, value by 33% to QR25.69mn and deals by 28% to 610.

The con­sumer goods sec­tor saw 13% shrink­age in trade vol­ume to 0.26mn eq­ui­ties, 36% in value to QR25.57mn and 23% in trans­ac­tions to 303.

How­ever, the in­surance sec­tor more than tripled trade vol­ume to 0.18mn stocks and value also more than tripled to QR5.9mn on 13% jump in deals to 96.

The tele­com sec­tor’s trade vol­ume more than dou­bled to 0.96mn shares, value soared 76% to QR13.04mn and trans­ac­tions by 27% to 304.

The banks and fi­nan­cial ser­vices sec­tor’s trade vol­ume was up 1% to 1.46mn eq­ui­ties, whereas value shrank 22% to QR70.05mn and deals by 11% to 965.

In the debt mar­ket, there was no trad­ing of trea­sury bills but as many as 90,603 sovereign bonds val­ued at QR906.03mn traded across two trans­ac­tions.

For­eign funds’ net buy­ing weak­ened amidst a 1.03% plunge in the 20-stock Qatar In­dex to 9,861.53 points, which is how­ever up 15.7% year-to-date

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