QSE falls below 10,200 as investors turn cautious
April 17 2016 07:37 PM
The 20-stock Qatar Index was down 0.48% to 10,189.22 points

By Santhosh V. Perumal/Business Reporter

Led by mid and small cap equities, Qatar Stock Exchange on Sunday fell below the 10,200 with investors largely adopting a cautious path as they await outcome from oil producers, which met in Doha to discuss the draft production freeze.
Foreign institutions’ substantially lower buying interests and increased net selling by local retail investors rather drove the 20-stock Qatar Index down 0.48% to 10,189.22 points.
The bearish sentiments comes in the wake of uncertainties surrounding the meeting of oil producers to discuss the production freeze at peak January levels. A decision had not gone through till the time market closed.
An across-the-board selling – notably in the real estate, industrials and consumer goods counters was visible in the market, which is down 2.3% year-to-date.
The index that tracks Shariah-principled stocks was seen dropping faster than the other indices in the bourse, where trading turnover and volumes were also on the decline.
However, domestic institutions’ net selling weakened considerably in the market, where banking and realty stocks together constituted about 71% of the total trading volume.
Market capitalisation fell 0.33% or about QR2bn to QR546.04bn with mid, small, micro and large cap equities losing 0.84%, 0.43%, 0.17% and 0.17% respectively.
The Total Return Index shed 0.48% to 16,485.48 points and All Share Index by 0.38% to 2,847.36 points and Al Rayan Islamic Index by 0.77% to 4,023.02 points.
Real estate stocks shrank 0.91%, industrials (0.64%), consumer goods (0.49%), telecom (0.42%), transport (0.22%), insurance (0.19%) and banks and financial services (0.04%).
More than 68% of the stocks were in the red with major losers being Barwa, Ezdan, Vodafone Qatar, Gulf International Services, Industries Qatar, QIIB, Doha Bank, Salam International Investment, Mesaieed Petrochemical Holding and Nakilat; even as Alijarah Holding, Commercial Bank and Dlala bucked the trend.
Non-Qatari institutions’ net buying weakened perceptibly QR20.58mn compared to QR90.01mn last Thursday.
Local retail investors’ net profit booking strengthened to QR12.58mn against QR9.35mn the previous trading day.
Non-Qatari individual investors turned net sellers to the tune of QR1.83mn compared with net buyers of QR6.5mn on April 14.
However, domestic institutions’ net profit booking weakened substantially to QR6.54mn against QR83.71mn last Thursday.
The GCC (Gulf Cooperation Council) institutions’ net selling declined to QR0.06mn compared to QR0.89mn the previous trading day.
The GCC individual investors turned net buyers to the extent of QR0.45mn against net sellers of QR2.56mn on April 14.
Total trade volume fell 46% to 4.96mn shares, value by 62% to QR156.12mn and deals by 42% to 3,309.
The market witnessed 89% plunge in the transport sector’s trade volume to 0.14mn equities, 90% in value to QR5.87mn and 74% in transactions to 177.
The consumer goods sector’s trade volume plummeted 77% to 0.29mn stocks, value by 81% to QR8.71mn and deals by 74% to 154.
There was 68% shrinkage in the telecom sector’s trade volume to 0.35mn shares, 82% in value to QR11.65mn and 60% in transactions to 523.
The industrials sector’s trade volume tanked 60% to 0.63mn equities, value by 75% to QR27.59mn and deals by 37% to 635.
The insurance sector saw 60% decline in trade volume to 0.04mn stocks, 61% in value to QR2.4mn and 41% in transactions to 61.
The real estate sector’s trade volume shrank 47% to 1.19mn shares, value by 44% to Q21.53mn and deals by 24% to 541.
However, the banks and financial services sector reported 42% surge in trade volume to 2.33mn equities but on 4% fall in value to QR78.36mn and 7% in transactions to 1,218.
In the debt market, there was no trading of treasury bills and government bonds.

Last updated: April 17 2016 10:35 PM

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