Qatar shares fall despite strong buying interests

Qatar Stock Exchange on Monday edged down marginally despite strong buying interests from foreign institutions.
Selling was seen more pronounced in the industrials and transport counters as the 20-stock Qatar Index fell for the second day by 0.1% or mere 10 points to 10,317.65 points as oil retreated below $40 a barrel on Iran’s indecisiveness in output freeze.
Local and Gulf retail investors turned bearish in the bourse, which is down 1.07% year-to-date.
There was also increased net selling by Gulf institutions and non-Qatari individual investors in the market, where trading turnover and volumes were on the rise.
The index that tracks Shariah-principled stocks was seen declining faster than the other indices in the market, where baking, real estate and industrials stocks together accounted for about 79% of the total trading volume.
Market capitalisation was down 0.12% or QR63mn to QR542.11bn with micro, small, mid and large cap equities melting 2.1%, 1.71%, 1.6% and 1.01% respectively.
The Total Return Index fell 0.1% to 16,413.23 points, All Share Index by 0.09% to 2,794.86 points and Al Rayan Islamic Index by 0.39% to 3,852.18 points.
Industrials stocks shrank 0.77%, transport (0.11%), realty (0.09%) and telecom (0.06%); whereas insurance gained 0.99%, consumer goods (0.23%) and banks and financial services (0.07%).
Major losers included Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Dlala, Qatar Islamic Bank, Doha Bank, Vodafone Qatar and United Development Company.
However, QNB, Aamal Company, Qatar Insurance, Alijarah Holding, Qatari German Company for Medical Devices, Mazaya Qatar and Barwa bucked the trend.
Local retail investors turned net sellers to the tune of QR23.83mn compared with net buyers of QR17.28mn on Sunday.
The GCC (Gulf Cooperation Council) individuals were also net sellers to the extent of QR3.65mn against net buyers of QR2.04mn on March 13.
The GCC institutions’ net profit booking strengthened to QR7.49mn compared to QR7.1mn the previous day.
Non-Qatari individual investors’ net selling also increased to QR5.46mn against QR4.93mn on Sunday.
However, non-Qatari institutions’ net buying surged to QR55.96mn compared to QR14.21mn on March 13.
Domestic institutions’ net profit booking declined to QR15.56mn against QR21.46mn the previous day.
Total trade volume rose 34% to 9.9mn shares, value by 8% to QR278.42mn and deals by 18% to 4,626.
There was 90% surge in the consumer goods sector’s trade volume to 1.52mn equities, 3% in value to QR29.13mn and 7% in transactions to 491.
The banks and financial services sector’s trade volume soared 85% to 3.69mn stocks but value fell 3% to QR96.15mn. Deals rose 18% to 1,615.
The industrials sector reported 81% expansion plunge in trade volume to 1.7mn shares, 45% in value to QR55.98mn and 25% in transactions to 837.
The insurance sector’s trade volume increased 38% to 0.11mn equities, value more than doubled to QR8.09mn and deals almost tripled to 171.
The market witnessed 6% jump in the real estate sector’s trade volume to 2.42mn stocks, 16% in value to QR72.91mn and 27% in transactions to 1,038.
However, the transport sector’s trade volume plummeted 89% to 0.05mn shares, value by 68% to QR4.3mn and deals by 69% to 56.
The telecom sector saw 48% plunge in trade volume to 0.43mn equities and 8% in value to QR11.87mn but on 11% rise in transactions to 418.
In the debt market, there was no trading of treasury bills and government bonds.