Selling pressure in realty, industrials drag QSE as index falls 35 points

The Qatar Stock Exchange Sunday opened the week weak, mainly dragged by the real estate and industrials sectors.

The Arab retail investors turned net sellers as the 20-stock Qatar Index shed 35 points or 0.35% to 10,055.11 points.

The market, which was skewed towards decliners, saw its index touch an intraday high of 10,117 points.

The Gulf individual investors were seen net profit takers in the main market, whose year-to-date losses widened to 5.86%.

The local retail investors’ substantially weakened net buying had its influence in the main bourse, whose capitalisation eroded QR3.73bn or 0.63% to QR583.94bn, mainly on account of midcap segments.

The domestic institutions’ lower net buying interests also had its role in dampening the sentiments in the main market, which saw a total of 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.42mn changed hands across 26 deals.

The Gulf funds weakened bullish grip was seen in the main bourse, which saw no trading of sovereign bonds.

The Islamic index was seen declining slower than the main barometer in the main market, which saw no trading of treasury bills.

The Total Return Index lost 0.35%, All Share Index by 0.37% and Al Rayan Islamic Index (Price) by 0.34% in the main bourse, whose trade turnover and volumes were on the decline.

The realty sector index tanked 1.59%, industrials (1.2%) and banks and financial services (0.24%); while transport gained 0.61%, insurance (0.5%), telecom (0.2%) and consumer goods and services (0.16%).

About 74% of the traded constituents in the main market were in the red with major losers being Qatar General Insurance and Reinsurance, QLM, Mazaya Qatar, Qatari German Medical Devices, Qatar Islamic Insurance, Lesha Bank, Dukhan Bank, Baladna, Estithmar Holding, Qamco, Mazaya Qatar and Ezdan.

Nevertheless, Qatar Insurance, Qatar Cinema and Film Distribution, Milaha, Doha Insurance, Alijarah Holding and Vodafone Qatar were among the movers in the main market. In the venture market, Al Faleh Educational Holding’s shares appreciate in value.

The Arab individuals turned net sellers to the tune of QR11.12mn against net buyers of QR1.94mn on April 13.

The Gulf retail investors were net sellers to the extent of QR0.68mn compared with net buyers of QR1.18mn last Thursday.

The local retail investors’ net buying declined substantially to QR0.48mn against QR38mn the previous trading day.

The domestic institutions’ net buying weakened significantly to QR15.61mn compared to QR25.39mn on April 13.

The Gulf institutions’ net buying decreased markedly to QR5.99mn against QR14.66mn last Thursday.

However, the foreign individuals’ net buying rose considerably to QR2.27mn compared to QR0.75mn the previous trading day.

The Arab institutions turned net buyers to the extent of QR0.03mn against no major net exposure on April 13.

The foreign institutions’ net selling decreased drastically to QR12.58mn compared to QR81.92mn last Thursday.

In the main market, trade volumes shrank 45% to 84.9mn shares, value by 59% to QR214.17mn and deals by 53% to 9,199.