Lower retail buying interest weighs on Qatar shares

By Santhosh V Perumal/Business Reporter

Lower buying interests from local and foreign retail investors yesterday landed the Qatar Stock Exchange in the negative trajectory, ahead of impending summer holidays.

Selling was seen stronger in transport, banks, consumer goods and real estate counters as the 20-stock Qatar Index (based on price data) fell 0.19% to 12,436.05 points amid shrinking volumes.

However, foreign institutions enhanced their net buying in the market, which is up 19.81% year-to-date.

Trading volumes were largely skewed towards banks, real estate and telecom stocks.

Market capitalisation was down 0.36%, or more than QR2bn, to QR679.96bn. Micro cap equities lost 0.65%, small and large caps (0.4% each) and mid caps (0.12%).

The 20-stock Total Return Index was down 0.19% to 18,548.25 points, the All Share Index (with wider constituents) by 0.32% to 3,161.18 and the Al Rayan Islamic Index by 0.3% to 4,137.37.

All the three indices factored in dividend income as well.

Transport stocks shrank 0.83%, banks and financial services (0.82%), consumer goods (0.76%), insurance (0.58%) and realty (0.32%); whereas telecom and industrials gained 1.68% and 0.26% respectively.

Local retail investors’ net profit-booking surged to QR42.61mn against QR26.16mn the previous day.

Non-Qatari individual investors turned net sellers to the tune of QR6.57mn compared with net buyers of QR5.62mn on Sunday.

Foreign institutions’ net buying shot up to QR34.19mn against QR8.78mn the previous day.

Domestic institutions’ net buying rose to QR15.02mn compared to QR11.73mn on Sunday.

Major losers included QNB, Ezdan, Doha Bank, Masraf Al Rayan, al khaliji, Mazaya Qatar, Aamal Company, Nakilat, Barwa, Mesaieed Petrochemical Holding and Widam Food.

However, Industries Qatar, Ooredoo, Vodafone Qatar, Qatar Islamic Bank, International Islamic, Commercial Bank, Qatar Electricity and Water, Gulf International Services and Salam International Investment bucked the trend.

Masraf Al Rayan, Ezdan and Barwa were the most active in terms of both volume and value.

Total trading volume was down 15% to 7.1mn stocks, value by 4% to Q336.81mn and transactions by 17% to 5,191.

The industrials sector’s trading volume plummeted 54% to 0.83mn equities, value by 24% to QR64.24mn and deals by 33% to 1,226.

The real estate sector saw its trading volume plunge 32% to 1.63mn shares, value by 31% to QR43.68mn and transactions by 22% to 839.

The consumer goods sector’s trading volume tanked 30% to 0.38mn stocks, value by 6% to QR20.05mn and deals by 22% to 336.

The market witnessed a 30% decline in the insurance sector’s trading volume to 0.14mn equities, 31% in value to QR6.97mn and 44% in transactions to 113.

The transport sector’s trading volume was down 14% to 0.25mn shares and value by 27% to QR7.42mn; even as deals were unchanged at 199.

However, the telecom sector’s trading volume more than doubled to 1.16mn stocks and value also more than doubled to QR37.02mn on a 70% jump in transactions to 535.

The banks and financial services sector reported a 5% rise in trading volume to 2.73mn equities and 7% in value to QR157.43mn but on a 13% fall in deals to 1,943.

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