QE extends losing streak to 5th day despite local buy support

The Qatar Exchange saw a protracted bearish spell for the fifth consecutive day yesterday despite strong buying support from local retail and institutional investors.An across-the-board selling, particularly in telecom, industrials and banking segments, dragged the QE Index (based on price data) by 0.41% to 8,194.65 points. The market is down 6.66% year-to-date.The All Share Index (comprising wider constituents) and the Total Return Index also shrank 0.51% and 0.41% to 1,976.05 and 11,090.32 points respectively. Both the indices factored in dividend income as well.About 74% of the stocks were in the red with major shakers being Doha Bank, QNB, Qatar Islamic Bank, al khaliji, Dlala, Al Meera, Industries Qatar, Qatari Investors Group, Mazaya Qatar, Qatar Telecom, Gulf Warehousing and Nakilat.Under the All Share Index category, the telecom sector witnessed the maximum selling as its index shrank 0.87%, followed by industrials (0.65%), banks and financial services (0.49%), transport (0.45%), consumer goods (0.44%), insurance (0.41%) and realty (0.04%).Market capitalisation eroded 0.52% or more than QR2bn to QR449.64bn with micro, small and large cap equities notably melting 2.06%, 0.64% and 0.47% respectively.Of the 42 stocks, only six gained, while 31 declined, two were unchanged and three were not traded.Foreign institutions were increasingly profit-takers as their net selling rose to 13.55% from 7.59% the previous day. Their net selling amounted to QR21.86mn.A much lower 19.44% of them were into buying against 43.18% on Monday and a much lower 32.99% of them into selling compared to 50.77%.On the other hand, domestic institutions were increasingly bullish as their net buying surged to 7.07% from 3.18% the previous day. Their net buying was worth QR11.41mn.A higher 17.19% of them bought equities compared to 12.32% on Monday, although a marginally higher 10.12% offloaded against 9.14%.Qatari individual investors’ bullish grip considerably strengthened as their net buying soared to 6.41% from 0.72% the previous day. Their net buying amounted to QR10.34mn.A much higher 45.12% of them purchased equities compared to 31.91% on Monday, although a higher 38.71% sold against 31.19%.Non-Qatari retail investors continued to be bullish, but with lesser intensity, as their net buying sunk to 0.06% from 3.69% the previous day. Their net buying amounted to mere QR0.10mn.A higher 18.25% of them were into buying against 12.59% on Monday and a higher 18.19% were into offloading against 8.90%.Total trading volume gained 80% to 6.67mn equities, value by less than 1% to QR161.33mn and deals by 29% to 2,999.The real estate sector’s trading volume jumped about six-fold to 1.22mn shares and value by about five-fold to QR16.47mn as transactions more than doubled to 354.The consumer goods and services sector’s trading volume more than tripled to 0.62mn shares and value more than doubled to QR12.27mn on a 34% jump in deals to 242.The banks and financial services sector’s trading volume more than doubled to 3.61mn shares, while value lost 19% to QR75.22mn but transactions gained 55% to 1,273.The telecom sector’s trading volume soared 42% to 0.44mn shares, value jumped about five-fold to QR27.25mn and deals almost tripled to 417.However, the insurance sector’s trading volume plummeted 75% to 0.02mn shares, value by 64% to QR1.34mn and transactions by 54% to 35.The transport sector’s trading volume plunged 45% to 0.38mn shares, value by 51% to QR11.33mn and deals by 34% to 319.The industrials sector’s trading volume tanked 22% to 0.39mn shares, value by 37% to QR17.45mn and transactions by 22% to 359.Actively traded stocks (in terms of volume) were Qatar Oman Investment (2.58mn shares); Mazaya Qatar (1.12mn); Masraf Al Rayan (471,657); Salam International Investment (374,367) and Qatari Investors Group (239,455).In the debt market, there was no trading.