QSE edges lower despite insurance, banking buy interest
May 15 2018 08:50 PM

The Qatar Stock Exchange on Tuesday edged down marginally despite strong buying interests in insurance and banking counters.

Local retail investors were seen aggressively into selling although the 20-stock Qatar Index fell only 0.14% to 8,922 points.

Masraf Al Rayan exchange traded fund QATR was rather flat; whereas Doha Bank sponsored QETF reported 0.62% gains.

Profit-booking was rather stronger within telecom, industrials and transport segments in the market, which is however up 4.68% year-to-date.

Selling was seen more within microcap segments in the bourse, whose capitalisation was up 0.07% to QR494.86bn.

Trade turnover and volumes were on the increase in the market, where banking and transport sectors together accounted for more than 55% of the total volume.

The Total Return Index fell 0.14% to 15,719.57 points and the Al Rayan Islamic Index (Price) by 0.68% to 2,202.97 points, while the All Share Index was up 0.07% to 2,621.45 points.

The telecom index plunged 2.98%, industrials (1.71%), transport (1.35%), consumer goods (0.91%) and realty (0.91%); while insurance gained 2.76% and banks and financial services (1.63%).

About 63% of the traded stocks were in the red with major losers included Industries Qatar, Mesaieed Petrochemical Holding, Ooredoo, Vodafone Qatar, Nakilat, Mazaya Qatar, Ezdan, United Development Company, Dlala and Medicare Group; even as QNB, Qatar Islamic Bank, Commercial Bank, Qatar Insurance and Milaha were among the gainers.

Local individual investors’ net selling increased significantly to QR104.35mn against QR9.02mn on May 14.

The Gulf institutions turned net sellers to the tune of QR23.86mn compared with net buyers of QR4.37mn on Monday.

Non-Qatari individuals’ net profit-booking grew marginally to QR0.45mn against QR0.28mn the previous day.

However, non-Qatari funds’ net buying strengthened considerably to QR124.25mn compared to QR12.11mn on May 14.

Domestic institutions turned net buyers to the extent of QR2.66mn against net sellers of QR7.02mn on Monday.

The Gulf individuals were net buyers to the tune of QR1.71mn compared with net sellers of QR0.15mn the previous day.

Total trade volume grew 52% to 11.37mn shares and value more than doubled to QR502.42mn on 65% increase in transactions to 6,121.

The transport sector’s trade volume grew about 25-fold to 2.98mn equities and value by more than 24-fold to QR46.33mn on almost 14-fold jump in deals to 1,421.

The telecom sector’s trade volume more than quadrupled to 1.79mn stocks and value more than doubled to QR26.8mn on 51% rise in transactions to 578.

The insurance sector reported 55% surge in trade volume to 0.31mn shares, 67% in value to QR10.88mn and 51% in deals to 168.

The consumer goods sector’s trade volume soared 21% to 0.29mn equities and value by 4% to QR15.87mn, while transactions shrank 38% to 167.

However, there was 12% shrinkage in the industrials sector’s trade volume to 1.48mn stocks but on 56% expansion in value to QR96.64mn despite 11% lower deals at 989.

The banks and financial services sector’s trade volume declined 10% to 3.33mn shares, whereas value more than doubled to QR291.9mn and deals grew 88% to 2,348.

Although the real estate sector’s trade volume was flat at 1.18mn equities, value rose 8% to QR13.99mn even as transactions shed 7% to 450.

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

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