QSE declines as MSCI’s rebalancing has its repercussions in the regional markets
November 26 2019 08:47 PM

Global index compiler MSCI’s rebalancing had its repercussions in the regional markets, which reflected in a huge 120 points decline on the Qatar Stock Exchange, which settled below 10,200 levels.
An across the board selling – particularly within consumer goods, insurance, telecom, real estate and banking – dragged the 20-stock Qatar Index 1.16% to 10,310.88 points.
Foreign funds turned bearish and there was increased net selling by domestic institutions on the market, whose key benchmark is down 1.05% year-to-date.
Market capitalisation saw about QR6bn or more than 1% decline to QR563.09bn mainly owing to small and midcap segments.
However, local and non-Qatari retail investors turned bullish and there was increased net buying from the Gulf funds on the market.
Trade turnover and volumes were on the increase on the bourse, where banking sector alone accounted for about 64% of the total volume.
The Total Return Index declined 1.16% to 18,751.97 points, All Share Index by 1.24% to 3,005.6 points and Al Rayan Islamic Index (Price) by 0.94% to 2,297.92 points.
The consumer goods index tanked 3.38%, insurance (1.86%), telecom (1.61%), realty (1.4%), banks and financial services (1.34%) and transport (0.39%).
About 59% of the traded constituents were in the red with major losers being Woqod, QNB, Commercial Bank, Al Meera, Industries Qatar, Gulf International Services, Qatar Insurance, Ooredoo and Nakilat; whereas Ahlibank Qatar, Qatar First Bank, Qatar Oman Investment, Islamic Holding Group, Qatar Electricity and Water, Mesaieed Petrochemical Holding and Vodafone Qatar were among the gainers.
Non-Qatari institutions turned net sellers to the tune of QR3.76mn compared with net buyers of QR57.56mn on November 25.
Domestic institutions’ net profit booking strengthened noticeably to QR27.99mn against QR20.59mn the previous day.
However, local retail investors were net buyers to the extent of QR15.31mn compared with net sellers QR34.24mn on Monday.
Non-Qatari individuals were also net buyers to the tune of QR11.14mn against net sellers of QR1.45mn on November 25.
The Gulf institutions’ net buying increased perceptibly to QR4.18mn compared to QR2.25mn the previous day.
The Gulf individual investors turned net buyers to the extent of QR0.97mn against net profit takers of QR3.51mn on Monday.
Total trade volume almost quadrupled to 182.06mn shares and value grew more than five-fold to QR1.39bn on 42% increase in transactions to 10,891.
The banks and financial services sector’s trade volume more than quadrupled to 115.66mn equities and value rose about six-fold to 1.1bn on 28% jump in deals to 5,915.
The insurance sector’s trade volume quadrupled to 4.44mn stocks and value expanded more than five-fold to QR13.35mn on more than doubled transactions to 284.
The industrials’ sector’s trade volume more than tripled to 31.61mn shares and value shot up about seven-fold to QR132.83mn on more than doubled deals to 2,096.
The telecom sector’s trade volume more than tripled to 6.4mn equities and value also more than tripled to QR36.48mn on 64% increase in transactions to 1,064.
The real estate sector’s trade volume more than tripled to 17.74mn stocks and value more than quadrupled to QR38.03mn on more than doubled deals to 589.
The consumer goods sector’s trade volume almost tripled to 4.07mn shares and value also almost tripled to QR61mn but on 12% decline in transactions to 889.
The transport sector saw 18% growth in trade volume to 2.13mn equities, 12% in value to QR7.51mn and 9% in deals to 154.
In the debt market, there was no trading of treasury bills and sovereign bonds.

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