Qatar shares close flat as local retail investors turn bearish
May 19 2019 07:52 PM

The Qatar Stock Exchange on Sunday opened the week largely flat as buying interests in the insurance, industrials and real estate segments was contained by strong selling pressure at the telecom, consumer goods, transport and banking counters.

Local retail investors turned bearish and there was a marginal decline in domestic funds’ net buying as the 20-stock Qatar Index settled mere 0.02% higher at 9,873.43 points.

The Gulf individuals were seen bullish and there was substantially weakened net selling by foreign institutions in the market, whose sensitive index is down 4.13% year-to-date.

Market capitalisation gained QR61mn, or 0.11%, to QR550.27bn mainly owing to small cap segments.

Islamic equities were seen declining vis-a-vis gains in the main index in the market, where the Gulf funds continued to be net buyers but with lesser intensity.

Trade turnover and volumes were on the decline in the bourse, where the industrials, real estate and banking sectors together accounted for about 87% of the total volume.

The Total Return Index was up 0.02% to 18,167.95 points, while the Al Rayan Islamic Index (Price) fell 0.04% to 2,281.66 points and the All Share Index by 0.01% to 2,966.67 points.

The insurance index gained 1.15%, industrials (0.73%) and real estate (0.28%); while telecom declined 0.84%, consumer goods (0.56%), transport (0.48%) and banks and financial services (0.26%).

Major movers included Qatar Insurance, Al Khaleej Takaful, Mesaieed Petrochemical Holding, Qatar National Cement, Medicare Group and Ezdan; whereas about 51% of the stocks were in the red with major losers being Vodafone Qatar, Mazaya Qatar, United Development Company, Aamal Company, Qatari German Company for Medical Devices, Al Khaliji and Qatar Oman Investment.

The Gulf individuals turned net buyers to the tune of QR0.74mn against net sellers of QR0.08mn on May 16.

Non-Qatari institutions’ net profit booking declined significantly to QR1.39mn compared to QR27.81mn the previous trading day.

However, local retail investors turned net sellers to the extent of QR22.17mn against net buyers of QR2.72mn last Thursday.

Non-Qatari individuals’ net profit booking increased noticeably to QR3.04mn compared to QR1.28mn the previous trading day.

The Gulf institutions’ net buying weakened perceptibly to QR1.95mn against QR2.29mn the previous trading day.

Domestic institutions’ net buying fell marginally to QR23.89mn compared to QR24.2mn last Thursday.

Total trade volume fell 39% to 10.14mn shares, value by 42% to QR223.68mn and transactions by 35% to 6,317.

The transport sector’s trade volume plummeted 63% to 0.18mn equities, value by 68% to QR3.68mn and deals by 71% to 116.

There was a a 59% plunge in the realty sector’s trade volume to 2.02mn stocks, 59% in value to QR21.51mn and 1% in transactions to 2,549.

The consumer goods sector’s trade volume tanked 51% to 0.42mn shares, value by 39% to QR35.79mn and deals by 44% to 380.

The insurance sector reported a 42% shrinkage in trade volume to 0.07mn equities, 55% in value to QR1.74mn and 63% in transactions to 83.

The banks and financial services sector’s trade volume declined 40% to 1.79mn stocks, value by 49% to QR57.37mn and deals by 65% to 722.

The industrials sector saw a 24% contraction in trade volume to 5mn shares, value by 29% to QR97.54mn and transactions by 30% to 2,252.

The telecom sector’s trade volume shrank 20% to 0.67mn equities, value by 47% to QR6.05mn and deals by 60% to 215.

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

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