QSE falls 79 points, bearish spell continues
February 10 2016 06:47 PM

By Santhosh V. Perumal/Business Reporter

Qatar Stock Exchange fell 79 points to stay afloat above 9,600 levels mainly on foreign institutions bearish grip and lower buying interests of local retail investors.

Real estate, banking and consumer goods counters witnessed stronger selling pressure that the 20-stock Qatar Index fell 0.81% to 9,619.48 points.

However, domestic institutions and Gulf individual investors turned bullish in the market, where trading turnover and volumes were on the decline.

There was also reduced profit booking from Gulf institutions and non-Qatari retail investors in the bourse, which is down 7.77% year-to-date.

The index that tracks Shariah-principled stocks was seen melting slower than the other indices in the market, where banking, industrials and realty stocks together accounted for about 82% of the total trading volume.

Market capitalisation eroded 0.73% or about QR4bn to QR513.22bn with large, micro and mid cap equities falling 1.15%, 0.61% and 0.41% respectively; even as small caps were up 0.2%.

The Total Return Index shed 0.81% to 15,002.53 points, All Share Index by 0.74% to 2,568.68 points and Al Rayan Islamic Index by 0.38% to 3,468.92 points.

Real estate stocks shrank 1.29%, banks and financial services (0.99%), consumer goods (0.97%), telecom (0.56%), industrials (0.3%) and transport (0.28%); while insurance rose 0.27%.

About 67% of the stocks were in the red with major losers being Gulf International Services, Barwa, Ezdan, QNB, Commercial Bank, Masraf Al Rayan, Salam International Investment, Vodafone Qatar, Ooredoo, Al Khaleej Takaful and Nakilat.

However, Industries Qatar, Qatari Investors Group, Aamal Company, Milaha, Doha Bank, QIIB and United Development Company bucked the trend.

Non-Qatari institutions’ net selling increased substantially to QR22.06mn against QR6.33mn on February 8.

Local retail investors’ net buying fell perceptibly to QR15.54mn compared to QR33.87mn on Monday.

However, domestic institutions turned net buyers to the tune of QR16.46mn against net sellers of QR6.4mn the previous trading day.

The GCC (Gulf Cooperation Council) individuals were also net buyers to the extent of QR0.69mn compared with net sellers of QR4.48mn on February 8.

Non-Qatari individual investors’ net selling weakened to QR1.41mn against QR2.39mn on Monday.

The GCC institutions’ net profit booking fell to QR9.19mn compared to QR14.33mn the previous trading day.

Total trade volume fell 28% to 7.42mn shares, value by 24% to QR255.95mn and deals by 21% to 4,283.

There was 90% plunge in the insurance sector’s trade volume to 0.03mn equities, 74% in value to QR1.98mn and 38% in transactions to 63.

The telecom sector’s trade volume plummeted 50% to 0.28mn stocks, value by 49% to QR12.46mn and deals by 33% to 459.

The market witnessed 49% shrinkage in the consumer goods sector’s trade volume to 0.58mn shares, 28% in value to QR20.16mn and 24% in transactions to 524.

The industrials sector’s trade volume tanked 40% to 1.92mn equities, value by 40% to QR71.38mn and deals by 23% to 1,225.

The real estate sector saw 35% decline in trade volume to 1.82mn stocks, 49% in value to QR39.86mn and 34% in transactions to 664.

However, the transport sector’s trade volume more than doubled to 0.47mn shares and value also more than doubled to QR16.06mn on 59% expansion in deals to 247.

The banks and financial services sector reported 6% jump in trade volume to 2.31mn equities and 30% in value to QR94.05mn on 8% fall in transactions to 1,101.

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

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