Qatar shares snap three-day bull run on profit-booking

By Santhosh V Perumal/Business Reporter

Buying interests in consumer goods, transport and real estate stocks were of not much help to the Qatar Exchange, which closed in the negative yesterday, after three days of bullish spell.

Foreign institutions largely resorted to profit-booking, masking the bullish support extended by local retail investors, as the 20-stock Qatar Index (based on price data) settled 0.05% lower at 9,803.19 points despite higher trading volumes.

Major shakers included Commercial Bank, Alijarah Holding, Industries Qatar, Gulf International Services and Nakilat, even as Masraf Al Rayan, Qatar National Cement, United Development Company, Mazaya Qatar and Milaha bucked the trend.

The market is up 17.28% year-to-date.

The 20-stock Total Return Index was also down 0.05% to 14,006.51 points, while the All Share Index (comprising wider constituents) rose 0.06% to 2,468.72 points and the Al Rayan Islamic Index by 0.23% to 2,821.20 points.

All the three indices factored in dividend income as well.

Under the All Share Index category, the consumer goods returned 1.02% gains followed by transport (0.58%), insurance (0.53%), realty (0.38%) and banks and financial services (0.07%); while telecom fell 0.35% and industrials 0.34%.

Market capitalisation fell marginally to QR537.01bn. Large cap stocks came under selling pressure, while micro and mid caps notably made gains.

Of the 42 stocks, 17 each advanced and 12 declined, while four were unchanged. Four others were not traded.

Foreign institutions turned bullish as they were net profit takers to the tune of 8.1% or QR19.79mn, while their domestic counterparts continued to be bearish, but with a lesser intensity, as their net selling fell to 2.18% or QR5.84mn.

On the retail side, Qatari individuals were bullish as they were net buyers to the extent of 7.23% or QR19.36mn and non-Qatari investors’ net buying strengthened to 2.33% or QR6.24mn.

A total of 5.45mn stocks valued at QR267.83mn changed hands across 3,925 transactions.

The realty sector saw a total of 1.54mn shares with a value of QR32.67mn trade across 416 deals; while the banks and financial services sector witnessed 2.16mn equities worth QR105.13mn change hands across 1,435 transactions.

A total of 0.63mn industrials stocks valued at QR62.42mn traded in 1,228 deals and a total of 0.02mn insurance equities worth QR1.12mn change hands across 26 transactions.

The consumer goods sector witnessed 0.33mn shares worth QR32.73mn change hands across 335 deals.

The telecom and transport sectors reported trading volume of 0.22mn and 0.56mn valued at QR5.67mn and QR28.11mn across 91 and 394 transactions respectively.

In the debt market, there was no trading of treasury bills and bonds.