Qatar shares snap 2-day bull run on bank­ing, tele­com eq­ui­ties

Gulf Times Business - - BUSINESS - By San­thosh V Peru­mal

The Qatar Stock Ex­change yes­ter­day wit­nessed mild profit-book­ing pres­sures, af­ter a two-day bull run, to slide be­low 10,600 lev­els, mainly dragged by bank­ing and tele­com eq­ui­ties. Weak­ened buy­ing in­ter­ests from for­eign in­sti­tu­tions largely drove the 20-stock Qatar In­dex down 0.12% at 10,589.98 points.

How­ever, do­mes­tic funds turned bullish and there was weak­ened net sell­ing by lo­cal and non-Qatari re­tail in­vestors in the mar­ket, which is up 24.25% yearto-date.

Mar­ket cap­i­tal­i­sa­tion shed about QR3bn, or 0.47%, to QR592.78bn, mainly ow­ing to large cap seg­ments; even as mi­cro, mid and small caps made im­pres­sive gains.

Is­lamic eq­ui­ties were seen gain­ing vis-a-vis de­clines in the other in­dices in the mar­ket, where Gulf in­di­vid­u­als turned marginally bullish. Trade turnover and vol­umes were on the de­cline in the bourse, where the bank­ing, realty and in­dus­tri­als sec­tors to­gether ac­counted for about 83% of the to­tal vol­ume.

The To­tal Re­turn In­dex shed 0.12% to 18,658.36 points and the All Share In­dex by 0.15% to 3,138.66 points, while the Al Rayan Is­lamic In­dex (Price) gained 0.83% to 2,473.02 points.

The banks and fi­nan­cial ser­vices in­dex shrank 1.15%, fol­lowed by tele­com (0.62%) and in­sur­ance (0.05%); whereas realty gained 1.49%, in­dus­tri­als (0.89%), con­sumer goods (0.41%) and trans­port (0.3%).

About 62% of the traded stocks were in the red with ma­jor losers be­ing QNB, Oore­doo, Qatar Is­lamic Bank, Com­mer­cial Bank, Me­saieed Petro­chem­i­cal Hold­ing and Is­lamic Hold­ing Group; while Qatar Na­tional Ce­ment, Qatari Ger­man Com­pany for Med­i­cal De­vices, Doha Bank, Ali­jarah Hold­ing, Aa­mal Com­pany, Qatar Elec­tric­ity and Wa­ter, Ez­dan, Barwa and Gulf Ware­hous­ing were among the gain­ers. Non-Qatari in­sti­tu­tions’ net buy­ing de­clined sig­nif­i­cantly to QR37.44mn com­pared to QR121.04mn on De­cem­ber 4.

How­ever, do­mes­tic in­sti­tu­tions turned net buy­ers to the tune of QR1.18mn against net sell­ers of QR9.71mn the pre­vi­ous day.

Gulf in­di­vid­ual in­vestors were also net buy­ers to the ex­tent of QR0.03mn com­pared with net sell­ers of QR3.9mn on Tues­day.

Lo­cal in­di­vid­ual in­vestors’ net sell­ing weak­ened sig­nif­i­cantly to QR23.81mn against QR82mn on De­cem­ber 4. Non-Qatari in­di­vid­u­als’ net profit-book­ing shrank in­flu­en­tially to QR0.98mn com­pared to QR5.9mn the pre­vi­ous day.

Gulf in­sti­tu­tions’ net sell­ing de­creased per­cep­ti­bly to QR13.86mn against QR20.42mn on Tues­day.

To­tal trade vol­ume fell 12% to 10.01mn shares, value by 23% to QR288.22mn and trans­ac­tions by 13% to 5,601. The tele­com sec­tor’s trade vol­ume plum­meted 72% to 0.69mn eq­ui­ties, value by 51% to QR12.32mn and deals by 47% to 269.

The trans­port sec­tor re­ported a 47% plunge in trade vol­ume to 0.5mn stocks, 32% in value to QR14.53mnm and less than 1% in trans­ac­tions to 316. The in­sur­ance sec­tor’s trade vol­ume tanked 36% to 0.09mn shares, value by 30% to QR3.65mn and deals by 41% to 70. The banks and fi­nan­cial ser­vices sec­tor saw an 11% shrink­age in trade vol­ume to 3.58mn eq­ui­ties, 25% in value to QR136.23mn and 9% in trans­ac­tions to 2,495.

How­ever, the con­sumer goods sec­tor’s trade vol­ume al­most tripled to 0.44mn stocks and value al­most dou­bled to QR31.48mn on al­most dou­bled deals to 451. There was a 62% surge in the in­dus­tri­als sec­tor’s trade vol­ume to 1.83mn shares but on a 32% de­cline in value to QR45.01mn and 20% in trans­ac­tions to 794.

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