Qatar index edges lower on telecom, transport stocks

Telecom and transport stocks yesterday extended the bearish spell on the Qatar Exchange for the second day yesterday.Domestic institutions were seen exerting selling pressure as the QE Index (based on price data) settled 0.14% lower at 8,727.07 points. The market is down 0.59% year-to-date.The All Share Index (comprising wider constituents) and Total Return Index, however, rose 0.08% and 0.05% to 2,054.43 and 11,669.48 points respectively. Both the indices factored in dividend income as well.Major losers were Vodafone Qatar, United Development Company, Milaha, International Islamic, Salam International Investment (SIIL) and Mawashi; even as QNB, Commercialbank, Doha Bank, Dlala, Al Meera, Mazaya Qatar and Gulf Warehousing bucked the trend.Under the All Share Index category, the indices of insurance as well as banks and financial services gained 0.59% and 0.33%; while those of telecom, transport, industrials, real estate and consumer goods fell 0.53%, 0.41%, 0.13%, 0.10% and 0.04% respectively.Market capitalisation was however up 0.10% or QR46mn to QR461.15bn with micro and large cap equities gaining 0.40% and 0.16% respectively. But small caps fell 0.12%.Of the 42 stocks, 18 advanced, while 20 declined and two were unchanged. Two others were not traded.Foreign institutions continued to be profit-takers but with lesser intensity as their net selling sunk to 7.67% from 13.77% the previous day.A marginally higher 8.46% of them were into buying compared to 7.25% on Sunday, whereas a lower 16.13% of them into selling against 21.02%.Domestic institutions continued to be bullish, but with lesser vigour, as their net buying fell to 6.02% from 7.62% the previous day.A much higher 33.96% of them bought equities compared to 23.41% on Sunday and a much higher 27.94% offloaded against 15.79%.Qatari individual investors’ bullish grip strengthened as their net buying surged to 3.83% from 1.01% the previous day.A lower 42.54% of them purchased equities against 48.35% on Sunday, but a much lower 38.71% sold compared to 47.34%.Non-Qatari retail investors turned bearish as they were net sellers to the tune of 2.19% against net buyers of 5.13% the previous day.A lower 15.03% of them were into buying against 20.99% on Sunday, while a higher 17.22% were into offloading compared to 15.86%.Total trading volume shrank 11% to 8.61mn equities, but value rose 15% to QR273.41mn and deals gained 6% to 4,607.The consumer goods and services sector’s trading volume plummeted 61% to 0.91mn shares, value by 34% to QR39.34mn and transactions by 29% to 835.The telecom sector’s trading volume plunged 46% to 0.79mn and value by 18% to QR12mn, but deals gained 7% to 416.The real estate sector’s trading volume tanked 19% to 1.70mn shares, value by 15% to QR29.04mn and transactions by 14% to 637.The industrials sector’s trading volume was down 7% to 0.41mn shares and value by 34% to QR23.14mn, whereas transactions rose 5% to 394.The transport sector’s trading volume fell 5% to 1.05mn shares but value gained 27% to QR27.56mn and deals by 33% to 700.However, the banks and financial services sector’s trading volume soared 67% to 3.70mn shares and value more than doubled to QR140.97mn on a 46% jump in transactions to 1,587.The insurance sector’s trading volume continued to be flat at 0.04mn shares, while value declined 45% to QR1.36mn and deals by 36% to 38.Actively traded stocks (in terms of volume) were Dlala (1.64mn shares); Masraf Al Rayan (934,190); Mazaya Qatar (813,219); Nakilat (777,497) and Vodafone Qatar (745,164).In the debt (special) market, a total of 5,000 treasury bills with a value of QR49.39mn changed hands across three transactions.