As profit booking balances by robust buying, QSE falls marginally
January 11 2016 06:27 PM

By Santhosh V. Perumal/Business Reporter

Increased net profit booking by foreign institutions masked the robust buying support from local retail and institutions that the Qatar Stock Exchange lost a marginal two points.

Notwithstanding the buying interests in the industrials and banking counters, the 20-stock Qatar Index was down 0.02% to 9,671.86 points.

Insurance, real estate and consumer goods were seen the prime shakers in the market, which is down 7.26% year-to-date.

The Gulf institutions were also seen increasingly net sellers in the bourse, where trading turnover doubled.

The index that tracks Shariah-principled stocks was seen gaining the most in the market, where banking, realty and industrials sectors together accounted about 82% of the total trading volume.

Market capitalisation was up 0.09% or QR47mn to QR515.07n with large, small and micro mid cap equities gaining 1.61%, 1.44% and 0.61% respectively.

The Total Return Index was down 0.02% to 15,033.52 points, while All Share Index rose 0.01% to 2,580.87 points and Al Rayan Islamic Index by 0.1% to 3,551.39 points.

Insurance stocks shrank 2.19%, real estate (0.74%), consumer goods (0.73%), transport (0.4%) and telecom (0.37%); whereas industrials gained 0.57% and banks and financial services 0.56%.

About 54% of the stocks were in the red with major losers being Aamal Company, Mesaieed Petrochemical Holding, Qatar Insurance, Ezdan, Mazaya Qatar, Ooredoo, Vodafone Qatar, Nakilat, Qatari Investors Group and Alijarah Holding; even as Industries Qatar, Gulf International Services, Commercial Bank, Masraf Al Rayan, al khaliji and Barwa bucked the trend.

Non-Qatari institutions’ net profit booking strengthened considerably to QR77.51mn compared to QR17.25mn on Sunday.

The GCC (Gulf Cooperation Council) institutions’ net selling also increased to QR18.2mn against QR7.67mn on January 10.

The GCC individuals’ net buying fell to QR4.11mn compared to QR7.8mn the previous day.

However, domestic institutions turned net buyers to the tune of QR53.23mn against net sellers of QR2.66mn on Sunday.

Local retail investors’ net buying soared to QR35.8mn compared to QR20.12mn on January 10.

Non-Qatari individual investors were net buyers to the extent of QR2.59mn against net sellers of QR0.35mn the previous day.

Total trade volume rose 56% to 5.55mn shares, doubling value to QR246.23mn and deals grew 30% to 3,779.

The insurance sector’s trade volume quadrupled to 0.04mn equities and value more than tripled to QR2.17mn on more than doubled transactions to 60.

The transport sector’s trade volume more than doubled to 0.27mn stocks, value soared 82% to QR6.91mn and deals by 22% to 118.

The banks and financial services sector reported 92% expansion in trade volume to 1.9mn shares, more than doubling of value to QR115.49mn on 23% jump in transactions to 1,341.

The real estate sector’s trade volume shot up 72% to 1.41mn equities, value by 93% to QR33.89mn and deals by 62% to 751.

There was 57% surge in the consumer goods sector’s trade volume to 0.47mn stocks, 79% in value to QR13.61mn and 21% in transactions to 248.

The industrials sector’s trade volume grew 55% to 1.21mn shares, value by 71% to QR65.67mn and deals by 22% to 849.

However, the telecom sector saw 51% decline in trade volume to 0.25mn equities but on 1% rise in value to QR8.49mn. Transactions more than quadrupled to 412.

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

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