Qatar shares edge lower on insurance, industrials selling pressure
March 21 2019 09:19 PM

The Qatar Stock Exchange on Thursday witnessed more than 61% of the traded constituents return gains but overall it settled lower.

The 20-stock Qatar Index declined 0.23% to 9,953.72 points despite four of the five sectors experiencing strong-to-moderate buying interests.

The insurance and industrials counters witnessed selling pressure in the market, whose sensitive index is down 3.35% year-to-date.

Market capitalisation was down QR11mn, or 0.02%, to QR563.32bn mainly owing to microcap segments.

Islamic equities were seen declining faster than the main index in the market, where domestic institutions were increasingly net profit takers.

Trade turnover and volumes were on the decline in the bourse, where the industrials and realty sectors together accounted for more than 65% of the total volume.

The Total Return Index gained 0.33% to 18,265.3 points and the All Share Index by 0.21% to 3,052.58 points, while the Al Rayan Islamic Index (Price) declined 0.45% to 2,352.83 points.

The insurance and industrials index declined 0.53% and 0.15% respectively; while telecom gained 1.6%, transport (0.95%), industrials (0.33%), consumer goods (0.2%) and banks and financial services (0.2%).

Major shakers included Barwa, United Development Company, Ooredoo, Commercial Bank, Zad Holding, Qatari Investors Group, Nakilat and Gulf International Services; even as Mazaya Qatar, Ezdan, Milaha, Gulf Warehousing, QNB, QIIB and Alijarah Holding were among the prime gainers.

Domestic funds’ net selling increased influentially to QR12.83mn compared to QR8.19mn the previous day.

Non-Qatari individuals turned net sellers to the tune of QR2.87mn against net buyers of QR2.37mn on March 20.

Non-Qatari institutions’ net buying declined marginally to QR33.38mn compared to QR34.19mn on Wednesday.

However, the Gulf individuals turned net buyers to the extent of QR0.86mn against net sellers of QR1.91mn the previous day.

The Gulf institutional investors’ net selling weakened noticeably to QR2.34mn compared to QR4.34mn on March 20.

Local retail investors’ net profit booking eased considerably to QR16.21mn against QR22.08mn on Wednesday.

Total trade volume fell 19% to 6.84mn shares, value by 3% to QR204.93mn and transactions by 8% to 4,903.

The telecom sector’s trade volume plummeted 39% to 0.28mn equities, value by 40% to QR10.12mn and deals by 21% to 370.

The banks and financial services sector saw 32% plunge in trade volume to 1.08mn stocks, 22% in value to QR53.41mn and 23% in transactions to 778.

The transport sector’s trade volume tanked 22% to 0.49mn shares, value by 13% to QR11.06mn and deals by 16% to 291.

There was 18% shrinkage in the real estate sector’s trade volume to 2.06mn equities but on 1% rise in value to QR42.2mn despite 23% lower transactions at 1,022.

The industrials sector’s trade volume declined 16% to 2.4mn stocks, value by 2% to QR47.68mn and deals by 2% to 1,728.

The insurance sector reported 10% contraction in trade volume to 0.18mn shares but on 61% growth in value to QR6.07mn and 22% in transactions to 177.

However, the consumer goods sector’s trade volume soared 75% to 0.35mn equities and value also by 75% to QR34.39mn on more than doubled deals to 537.

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

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