Qatar shares edge lower on profit booking pressure
April 26 2016 07:31 PM
QSE
Midcaps witnessed heavy profit booking in the market

By Santhosh V. Perumal/Business Reporter

Qatar Stock Exchange on Tuesday continued to be under bearish spell, albeit at lower levels, mainly dragged by profit booking pressure from local, Gulf and foreign individual investors.

Led by real estate, consumer goods and banking sectors, the 20-stock Qatar Index shed 0.07% to 10,177.55 points despite rebound in the global energy prices on weak dollar.

The retail investors’ selling appears to be in view of their interests in subscribing to the shares of Qatar First Bank, which will make its entry today at a starting price of QR15 a piece.

Midcaps witnessed heavy profit booking in the market, which is down 2.41% year-to-date.

The index that tracks Shariah-principled stocks was seen gaining vis-à-vis declines in the other indices in the bourse, where trading turnover and volumes were on the decline.

There was also reduced buying support from domestic institutions in the market, where industrials, banking and realty stocks together constituted more than 78% of the total trading volume.

Market capitalisation was however up 0.1% or QR56mn to QR545.78bn with small and large cap equities gaining 1.07% and 0.17%; whereas mid and microcaps fell 0.36% and 0.07% respectively.

The Total Return Index was down 0.07% to 16,466.61 points and All Share Index by 0.01% to 2,839.72 points; while Al Rayan Islamic Index gained 0.16% to 3,965.32 points.

Real estate stocks shrank 1.09%, consumer goods (0.54%) and banks and financial services (0.16%); whereas telecom gained 0.95%, insurance (0.89%) and industrials (0.83%). Transport index was unchanged.

About 55% of the traded stocks were in the red with major losers being Commercial Bank, Alijarah Holding, Ezdan, Mesaieed Petrochemical Holding, Gulf International Services, Barwa, Vodafone Qatar, Nakilat, QIIB and Dlala; even as Industries Qatar, Qatari Investors Group, Ooredoo, Gulf Warehousing and Mazaya Qatar bucked the trend.

Local retail investors’ net profit booking strengthened to QR20.58mn compared to QR15.12mn the previous day.

The GCC (Gulf Cooperation Council) individual investors turned net sellers to the tune of QR1.76mn against net buyers of QR5.24mn on Monday.

Non-Qatari individual investors were also net sellers to the extent of QR1.3mn compared with net buyers of QR2.3mn on April 25.

Domestic institutions’ net buying weakened to QR9.2mn against QR11.1mn the previous day.

However, non-Qatari institutions’ net buying strengthened to QR10.5mn compared to QR2.84mn on Monday.

The GCC institutions turned net buyers to the tune of QR3.94mn against net profit takers of QR6.25mn on April 25.

Total trade volume fell 15% to 8.33mn shares, value by 16% to QR302.7mn and deals by 20% to 4,483.

The consumer goods sector saw 75% plunge in trade volume to 0.46mn equities, 73% in value to QR31.68mn and 70% in transactions to 500.

The telecom sector’s trade volume plummeted 37% to 0.45mn stocks, value by 20% to QR14.56mn and deals by 31% to 403.

The banks and financial services sector witnessed 14% decline in trade volume to 2.31mn shares, 16% in value to QR71.15mn and 17% in transactions to 1,042.

However, the transport sector’s trade volume doubled to 0.8mn equities and value more than doubled to QR31.24mn on 69% jump in deals to 350.

The insurance sector reported 10% expansion in trade volume to 0.11mn stocks, 22% in value to QR7.36mn and 3% in transactions to 119.

The real estate sector’s trade volume rose 6% to 1.5mn shares but value fell 2% to Q27.28mn and deals by 8% to 544.

The market witnessed 3% increase in the industrials sector’s trade volume to 2.7mn equities, 34% in value to QR119.43mn and 25% in transactions to 1,525.

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

Last updated: April 26 2016 10:44 PM


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