Gainers outnumber losers on QSE; index settles marginally lower
June 12 2020 07:19 PM

The gainers outnumbered losers in the Qatar Stock Exchange, which otherwise settled marginally lower this week.
The Arab individuals and foreign institutions were seen net profit takers this week which saw the Qatar Financial Center Authority chief executive Yousuf Mohamed al-Jaida opine that investors across the globe are turning to Doha with confidence due to robust macroeconomic parameters.
Three days of strong selling masked the strong gains on the first day of this week, which saw Qatar’s ports witness strong double-digit monthly gains in the handling of general cargoes, building materials and livestock in May 2020.
The telecom, banking, consumer goods and industrials saw higher than average selling pressure this week which saw global credit rating agency Moody’s affirm Qatar Islamic Bank’s long-term deposit rating at ‘A1’ with a “stable” outlook.
Strong gains in real estate and insurance notwithstanding, the 20-stock Qatar Index settled 0.2% lower at 9,233 points, although it touched a high of 9,349 points on Monday.
Local retail investors’ net profit booking considerably weakened this week which saw Islamic index decline faster than the main index.
The Total Return Index was down 0.2%, Al Rayan Islamic Index by 0.24% and All Share Index by 0.27% this week this which saw as many as 793,557 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR1.66mn changed hands across 55 transactions.
Market capitalisation saw more than QR1bn or 0.27% decline to QR523.23bn mainly on microcap segments this week which saw a total of 60,378 Doha Bank-sponsored QETF worth QR550,440 traded across 17 deals.
The telecom index fell 0.96%, banks and financial services (0.5%), consumer goods and services (0.32%), industrials (0.32%) and transport (0.13%); while realty and insurance shot up 2.19% and 1.54% respectively this week which saw more than 57% of the traded stocks extend gains.
Major losers included Vodafone Qatar, QNB, Commercial Bank, QIIB, Qatari German Company for Medical Devices, Medicare Group, Industries Qatar, Mesaieed Petrochemical Holding, Qatar Islamic Insurance, Gulf Warehousing and Milaha; even as Qatar Islamic Bank, Doha Bank, Qatar First Bank, Dlala, Qatar Oman Investment, Mannai Corporation, Qatar Industrial Manufacturing, Qatari Investors Group, Aamal Company, Gulf International Services, Qamco, Mazaya Qatar, Ezdan, Nakilat and United Development Company were among the gainers.
Trade turnover declined amidst higher volumes this week which saw the real estate sector account for 38% of the total trading volume, industrials (22%), banks and financial services (22%), consumer goods and services (9%), transport and insurance (4% each) and telecom (1%) this week.
In value, the banks and financial sector’s share was 36%, realty (22%), industrials (19%), consumer goods and services (9%), transport (7%), insurance (4%) and telecom (2%) this week.
Foreign funds turned net sellers to the tune of QR4.31mn against net buyers of QR164.58mn the previous week.
The Arab individuals were net sellers to the extent of QR7.63mn compared with net buyers of QR2.06mn the week ended June 3.
Foreign individuals’ net profit booking grew significantly to QR4.48mn against QR2.47mn a week ago.
The Gulf institutions’ net buying eased perceptibly to QR23.39mn compared to QR25.72mn the previous week.
However, local retail investors’ net selling fell substantially to QR9.29mn against QR188.44mn the week ended June 3.
Domestic institutions’ net buying grew marginally to QR2.49mn compared to QR2.47mn a week ago.
The Gulf individuals were net buyers to the tune of QR0.17mn against net sellers of QR3.29mn the previous week.
The Arab funds’ net profit booking eased marginally to QR0.33mn compared to QR0.45mn the week ended June 3.
Total trading volume rose 17% to 1.04bn shares, while value declined 19% to QR1.66bn and transactions by 35% to 39,950.
The banks and financial services sector’s trade volume soared 36% to 223.83mn equities; whereas value shrank 28% to QR604.72mn and deals by 44% to 13,454.
The real estate sector saw 33% surge in trade volume to 394.75mn stocks and 28% in value to QR370.56mn but on 1% fall in transactions to 7,089.
The industrials sector’s trade volume shot up 20% to 225.91mn shares, while value declined 14% to QR309.37mn and deals by 27% to 8,941.
There was 9% expansion in the insurance sector’s trade volume to 37.5mn equities but on 1% fall in value to QR69.17mn and 43% in transactions to 1,757.
However, the telecom sector’s trade volume plummeted 55% to 13.06mn stocks, value by 59% to QR30.68mn and deals by 67% to 1,331.
The transport sector reported 24% plunge in trade volume to 46.08mn shares, 21% in value to 123.74mn and 31% in transactions to 2,767.
The consumer goods sector’s trade volume tanked 13% to 95.5mn equities, value by 44% to QR150.88mn and deals by 29% to 4,611.

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