QSE continues to weaken on across-the-board selling
January 28 2020 08:22 PM

The Qatar Stock Exchange weakened for the fifth straight session Tuesday and its key index lost more than 66 points on an across-the-board selling, notably within insurance and banking counters.
Foreign institutions were increasingly net sellers and non-Qatari individuals turned bearish as the 20-stock Qatar Index settled 0.63% lower at 10,422.99 points.
The Gulf individuals were also bearish and the Gulf funds’ buying interests weakened in the market, which is down 0.02% year-to-date.
Market capitalisation saw more than QR4bn or 0.74% erosion to QR578.09bn mainly owing to mid and small cap segments.
Islamic stocks were seen declining slower than the main index on the bourse, where the local retail investors and domestic funds were increasingly net buyers.
Trade turnover and volumes were on the increase on the bourse, where consumer goods and banking sectors together accounted for about 59% of the total volume.
The Total Return Index shed 0.63% to 19,179.19 points, All Share Index by 0.79% to 3,088.66 points and Al Rayan Islamic Index (Price) by 0.48% to 2,305.16 points.
The insurance index shrank 1.87%, banks and financial services (0.99%), realty (0.57%), consumer goods (0.52%), telecom (0.29%), industrials (0.28%) and transport (0.27%).
About 67% of the traded constituents were in the red with major losers being QIIB, QNB, Qatar First Bank, Qatar Oman Investment, Qatar National Cement, Qatari Investors Group, Qatar Insurance, Qatar General Insurance and Reinsurance, Vodafone Qatar and Nakilat; even as Qatari German Company for Medical Devices, Mesaieed Petrochemical Holding, Ooredoo and Baladna were among the gainers.
Non-Qatari funds’ net profit booking grew noticeably to QR24.09mn compared to QR18.05mn on January 27.
Non-Qatari individuals turned net sellers to the tune of QR3.12mn against net buyers of QR0.24mn the previous day.
The Gulf individuals were also net sellers to the extent of QR0.32mn compared with net buyers of QR1.35mn on Monday.
The Gulf institutions’ net buying declined perceptibly to QR1.41mn against QR2.02mn on January 27.
However, local retail investors’ net buying rose substantially to QR15.39mn compared to QR7.7mn the previous day.
Domestic institutions’ net buying also grew significantly to QR10.74mn against QR6.73mn on Monday.
Total trade volumes rose 35% to 81.68mn shares, value by 35% to QR180.46mnm and transactions by 59% to 4,778.
The consumer goods sector’s trade volume more than quadrupled to 25.61mn equities and value doubled to QR20.92mn on 74% jump in deals to 612.
The transport sector’s trade volume soared 27% to 1.17mn stocks, whereas value declined 27% to QR3.19mn and transactions by 26% to 65.
The banks and financial services sector saw 13% increase in trade volume to 25.61mn shares, 58% in value to QR97.11mn and 86% in deals to 1,971.
The industrials sector’s trade volume grew 6% to 11.97mn equities, value by 12% to QR31.9mn and transactions by 41% to 908.
There was 2% rise in the insurance sector’s trade volume to 0.87mn stocks but 9% fall in value to QR2.43mn and 15% in deals to 129.
However, the telecom sector’s trade volume plummeted 60% to 1.41mn shares, while value grew 16% to QR6.48mn on more than quadrupled transactions to 542.
The real estate sector reported less than 1% dip in trade volume to 18.36mn equities, 10% in value to QR18.43mn and 4% in deals to 551.
In the debt market, there was no trading of sovereign bonds and treasury bills.

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