Qatar shares close flat despite transport, banking buy interest
February 24 2019 08:33 PM

The Qatar Stock Exchange on Sunday witnessed more than 55% of the traded constituents end in red; yet its key benchmark was largely flat.

The 20-stock Qatar Index was at 10,190 points despite buying interests at the transport and banking counters.

Both foreign and domestic institutions continued to be net buyers, but with lesser intensity in the market, whose sensitive index registered 1.03% declines year-to-date.

Market capitalisation shed 0.36%, or more than QR2bn, to QR576.31bn mainly owing to large and midcap segments.

Islamic equities were seen gaining faster than the main index in the market, where non-Qatari individuals turned bullish as well as there was weakened net selling by Gulf institutions and local retail investors.

Trade turnover and volumes were on the decline in the bourse, where the industrials, realty and banking sectors together accounted for about 85% of the total volume.

The Total Return Index was down 0.01% to 18,106.61 points, the All Share Index by 0.3% to 3,066.74 points and the Al Rayan Islamic Index (Price) by 0.07% to 2,431.15 points.

The consumer goods index declined 1.3%, realty (1.22%), industrials (0.84%) and telecom (0.11%); while transport gained 1.03%, banks and financial services (0.21%) and insurance (0.01%).

Major shakers included Qatari Investors Group, Industries Qatar, Aamal Company, Qatar Electricity and Water, Ezdan, Barwa, QNB, Dlala, Qatar Oman Investment, Qatari German Company for Medical Devices, Salam International Investment and Woqod; even as QIIB, Masraf Al Rayan, Nakilat, Widam Food and Mazaya Qatar were among the prime movers.

Non-Qatari institutions’ net buying declined influentially to QR23.66mn against QR78.04mn on February 21.

Domestic funds’ net buying also decreased substantially to QR22.32mn compared to QR54.18mn the previous trading day.

However, non-Qatari individuals turned net buyers to the tune of QR2.9mn against net sellers of QR27.54mn last Thursday.

Local individual investors’ net selling declined significantly to QR40.06mn compared to QR91.32mn on February 21.

Gulf institutions’ net selling weakened noticeably to QR8.39mn against QR11.03mn the previous trading day.

Gulf individuals’ net profit booking shrank perceptibly to QR0.46mn compared to QR2.38mn last Thursday.

Total trade volume fell 43% to 8.3mn shares, value by 47% to QR227.98mn and transactions by 35% to 4,850.

The insurance sector’s trade volume plummeted 74% to 0.09mn equities, value by 75% to QR2.89mn and deals by 89% to 60.

The telecom sector reported a 70% plunge in trade volume to 0.26mn stocks, 66% in value to QR4.16mn and 63% in transactions to 182.

The industrials sector’s trade volume tanked 62% to 2.67mn shares, value by 62% to QR51.83mn and deals by 42% to 1,688.

The banks and financial services sector saw a 21% decline in trade volume to 2.03mn equities, 41% in value to QR73.89mn and 23% in transactions to 1,006.

The real estate sector’s trade volume shrank 20% to 2.35mn stocks, value by 2% to QR40.51mn and deals by 10% to 1,303.

There was a 17% contraction in the consumer goods sector’s trade volume to 0.53mn shares, 55% in value to QR45.52mn and 40% in transactions to 412.

However, the transport sector’s trade volume more than doubled to 0.38mn equities and value also more than doubled to QR9.18mn on a 55% jump in deals to 199.

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

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