Business

Bearish spell continues on QE

Bearish spell continues on QE

December 25, 2012 | 11:51 PM

By Santhosh V Perumal/Business ReporterSustained profit booking, especially by foreign institutions, yesterday extended the bearish spell on the Qatar Exchange for the third day.Micro and large cap equities witnessed the maximum selling pressure as the 20-stock QE Index (based on price data) settled 0.11% lower at 8,381.15 points. The market is down 4.53% year-to-date.The 20-stock Total Return Index also fell 0.11% to 11,342.73 points and All Share Index (comprising wider constituents) by 0.09% to 2,016.47 points respectively. Both the indices factored in dividend income as well.Under the All Share Index category, the indices of industrials and realty fell 0.4% and 0.02%; while those of transport, insurance and banks & financial services rose 0.25%, 0.05% and 0.02% respectively. The indices of consumer goods and telecoms treaded a flat path.Major losers included Masraf Al Rayan, Barwa and Mazaya Qatar.Market capitalisation was down 0.06% or QR28mn to QR460.01bn with micro and large cap equities melting 0.17% and 0.15% respectively, while mid caps gained 0.37%. Of the 42 stocks, only nine advanced, while 20 declined, 10 were unchanged and three were not traded.Foreign institutions’ net selling surged to 20.52% or QR21.32mn. A lower 11.13% of them bought equities compared to 20.26% on Monday whereas a higher 31.65% offloaded against 28.51%.On the other hand, domestic institutions’ net buying shot up to 6.51% or QR6.76mn. A higher 23.99% of them were into buying against 19.51% the previous day while a marginally lower 17.48% of them into selling compared to 18.54%.Qatari individual investors’ net buying strengthened to 11.96% or QR12.43mn. A much higher 53.17% of them purchased equities compared to 43.04% the previous day although a marginally higher 41.21% sold against 40.31%.Non-Qatari retail investors’ net buying, however, sunk to 2.06% or QR2.14mn. A lower 11.71% of them were into buying against 17.2% on Monday and a lower 9.65% compared to 12.64%.Total trading volume fell 30% to 2.33mn shares, value by 12% to QR103.90mn and deals by 30% to 1,504.The real estate sector’s trading volume plummeted 52% to 0.27mn shares, value by 40% to QR5.52mn and transactions by 43% to 173.The banks and financial services sector’s trading volume plunged 45% to 0.98mn shares, value by 27% to QR52.17mn and deals by 32% to 661.The insurance sector’s trading volume tanked 27% to mere 4,500 shares, value by 32% to QR0.23mn and transactions by 23% to 10.The industrials sector’s trading volume declined 17% to 0.20mn shares; while value rose 12% to QR19.20mn, deals were down 25% to 212.However, the transport sector’s trading volume surged 53% to 0.23mn shares, value by 70% to QR5.31mn and transactions by 26% to 117.The telecom sector’s trading volume soared 27% to 0.14mn shares and value more than doubled to QR4.86mn whereas deals shrank 19% to 66.The consumer goods and services sector’s trading volume was up 2% to 0.50mn shares, value by 8% to QR16.80mn, while transactions fell 33% to 265.Actively traded stocks (in terms of volume) were Rayan (319,359 shares); Medicare Group (254,154); National Leasing (243,367); Nakilat (189,389) and Salam International Investment (167,024).

December 25, 2012 | 11:51 PM