Qatar shares edge lower amid sell­ing pres­sure

Gulf Times - Gulf Times Business - - FRONT PAGE - By San­thosh V Peru­mal Busi­ness Reporter

The Qatar Stock Ex­change yes­ter­day lost for the sec­ond day and its key in­dex set­tled be­low 10,000 lev­els, mainly dragged by lo­cal re­tail in­vestors and for­eign funds.

The in­sur­ance, con­sumer goods, realty, in­dus­tri­als and bank­ing coun­ters wit­nessed higher than av­er­age sell­ing pres­sure as the 20-stock Qatar In­dex shrank 0.27% to 9,999.46 points, although it touched an in­tra­day low of 9,982 points.

Gulf in­di­vid­u­als were also seen marginally bear­ish in the mar­ket, whose year-to-date losses swelled to 4.09%.

Do­mes­tic funds and for­eign in­di­vid­u­als were how­ever seen bullish in the mar­ket, where Is­lamic stocks were seen de­clin­ing faster than the con­ven­tional ones. Mar­ket cap­i­tal­i­sa­tion saw more than QR2bn, or 0.34%, de­crease to QR595.61bn, mainly ow­ing to mid and mi­cro­cap seg­ments.

A to­tal of 25,215 ex­change traded funds (both Mas­raf Al Rayan-spon­sored QATR and Doha Bank-spon­sored QETF) val­ued at QR245,820 changed hands across four trans­ac­tions; while in the debt mar­ket, there was no trad­ing of sov­er­eign bonds and trea­sury bills.

Trade turnover and vol­umes were on the de­cline in the bourse, where the real es­tate and in­dus­tri­als sec­tors to­gether ac­counted for about 60% of the to­tal trad­ing vol­ume. The To­tal Re­turn In­dex shed 0.27% to 19,223.64 points, the Al Rayan Is­lamic In­dex (Price) by 0.42% to 2,350.54 points and the All Share In­dex by 0.38% to 3,091.61 points. The in­sur­ance in­dex de­clined 0.95%, con­sumer goods and ser­vices (0.82%), realty (0.47%), in­dus­tri­als (0.44%) and banks and fi­nan­cial ser­vices (0.33%); while trans­port and tele­com gained 0.21% and 0.13% re­spec­tively.

About 73% of the traded con­stituents were in the red with ma­jor losers be­ing Salam In­ter­na­tional In­vest­ment, Ali­jarah Hold­ing, Al Khaleej Taka­ful, Medi­care Group, Mazaya Qatar, Aa­mal Com­pany, Qatar Oman In­vest­ment, Qatar In­sur­ance, Voda­fone Qatar and United De­vel­op­ment Com­pany; even as Gulf In­ter­na­tional Ser­vices, Com­mer­cial Bank, Inma Hold­ing, Oore­doo and Doha

Bank were among the gain­ers. Lo­cal in­di­vid­u­als’ net sell­ing in­creased sub­stan­tially to QR27.08mn com­pared to QR9.68mn on Oc­to­ber 14.

For­eign in­sti­tu­tions turned net sell­ers to the tune of QR21.21mn against net buy­ers of QR2.01mn the pre­vi­ous day.

Gulf in­di­vid­u­als were net sell­ers to the ex­tent of QR0.68mn com­pared with net buy­ers of QR3.13mn on Wed­nes­day. How­ever, do­mes­tic funds’ net buy­ing in­creased con­sid­er­ably to QR49.16mn against QR22.71mn on Oc­to­ber 14.

For­eign in­di­vid­u­als turned net buy­ers to the tune of QR1.79mn com­pared with net sell­ers of QR1.37mn the pre­vi­ous day.

Gulf funds were also net buy­ers to the ex­tent of QR1.05mn against net sell­ers of QR4.88mn on Wed­nes­day.

Arab in­di­vid­u­als’ net profit book­ing weak­ened no­tably to QR3.07mn com­pared to QR11.87mn on Oc­to­ber 14.

Arab in­sti­tu­tions con­tin­ued to have no ma­jor ex­po­sure.

To­tal trade vol­umes fell 9% to 166.4mn shares and value by 21% to QR337.67mn, while trans­ac­tions rose 4% to 7,219. There was a 57% plunge in the trans­port sec­tor’s trade vol­ume to 2.76mn eq­ui­ties, 64% in value to QR8.25mn and 31% in deals to 218.

The in­dus­tri­als sec­tor’s trade vol­ume plum­meted 25% to 46.36n stocks and value by 30% to QR56.5mn, whereas trans­ac­tions grew 4% to 1,623.

The banks and fi­nan­cial ser­vices sec­tor saw a 20% shrink­age in trade vol­ume to 27.38mn shares and 30% in value to QR115.29mn but on a 17% growth in deals to 2,368.

The con­sumer goods and ser­vices sec­tor’s trade vol­ume tanked 14% to 31.27mn eq­ui­ties, value by 39% to QR42.3mn and trans­ac­tions by 11% to 867.

The in­sur­ance sec­tor re­ported a 13% con­trac­tion in trade vol­ume to 2.66mn stocks, 23% in value to QR5.13mn and 31% in deals to 144.

How­ever, the real es­tate sec­tor’s trade vol­ume soared 40% to 52.71n shares, value by 34% to QR99.29mn and trans­ac­tions by less than 1% to 1,598.

The mar­ket wit­nessed an 8% rise in the tele­com sec­tor’s trade vol­ume to 3.24mn eq­ui­ties, less than 1% in value to QR10.91mn and 38% in deals to 401.

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