Qatar shares remain bearish as index drops further
November 24 2015 07:47 PM

By Santhosh V Perumal
Business Reporter

Qatar Stock Exchange continued to be under bearish spell for the second day on Tuesday and its key index lost 64 points, mainly dragged by banks, transport, industrials and realty stocks.

About 73% of the traded equities were in the red as the 20-stock Qatar Index fell another 0.6% to 10,611.8 points amid higher overall volumes, especially in the consumer goods.

The market, which is down 13.63% year-to-date, was largely skewed towards the banking, transport and real estate sectors, which together constituted more than 65% of the volume.

Market capitalisation eroded 0.57% or more than QR3bn to QR558.06bn with small, mid, micro and large cap equities melting 1.02%, 0.85%, 0.53% and 0.48% respectively.

The Total Return Index shed 0.6% to 16,494.52 points, All Share Index by 0.61% to 2,831.48 points and Al Rayan Islamic Index by 0.64% to 3,985.17 points.

Banks and financial services stocks shrank 1.13%, transport (0.9%), industrials (0.71%), realty (0.63%) and consumer goods (0.13%); whereas insurance and telecom gained 2.18% and 0.98% respectively.

Major losers included Doha Bank, Commercial Bank, al khaliji, QIIB, Nakilat, Industries Qatar, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, United Development Company, Mazaya Qatar, Barwa, Vodafone Qatar and Qatari German Company for Medical Devices; even as Ooredoo, Qatar Insurance, Qatar Electricity and Water and Dlala bucked the trend.

Total trade volume rose 7% to 5.6mn shares, value by 7% to QR229.19mn and deals by 14% to 4,383.
The consumer goods sector’s trade volume more than tripled to 0.48mn equities, value gained 12% in value to QR11.53mn and transactions by 50% to 212.

The transport sector saw 60% surge in trade volume to 1.2mn stocks, 60% in value to QR32.41mn and 33% in deals to 667.

The telecom sector’s trade volume was up 5% to 0.6mn shares but value more than doubled to QR20.88mn on 31% jump in transactions to 511.

However, the banks and financial services sector reported 15% decline in trade volume to 1.38mn equities and 8% in value to QR86.18mn but on 5% increase in deals to 1,290.

The real estate sector’s trade volume shrank 13% to 1.08mn stocks, while value shot up 13% to QR24.54mn and transactions by 28% to 596.

There was 6% shrinkage in the industrials sector’s trade volume to 0.83mn shares and 10% in value to QR51.12mn but on 1% rise in deals to 1,064.

Although the insurance sector’s trade volume was flat at 0.03mn equities, value expanded 16% to QR2.54mn but transactions tanked 27% to 43.

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

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