Industrials and telecom sectors drag QSE below 9,200 levels
June 14 2020 08:18 PM

The Qatar Stock Exchange Sunday opened the week weak and its key index retreated below 9,200 levels, mainly dragged by industrials and telecom sectors.
Local retail investors’ increased net selling and foreign funds’ bearish outlook were seen dampening the sentiments on the bourse, whose 20-stock Qatar Index settled 0.53% lower at 9,184.86 points, although it touched a low of 9,126 points intraday.
Market capitalisation saw more than QR2bn or 0.4% decline to QR521.15bn mainly owing to micro and small cap segments.
Islamic stocks however rose vis-à-vis declines in the other indices on the market, where the domestic funds turned bullish.
Trade turnover and volumes were on the decline on the market, where the realty sector alone accounted for more than 57% of the total trading volume.
The Total Return Index shrank 0.53% to 17,657.59 points and All Share Index by 0.51% to 2,845.7 points, while Al Rayan Islamic Index (Price) was up 0.01% to 2,064.52 points.
The industrials index declined 1.46%, telecom (1.08%), banks and financial services (0.48%) and transport (0.03%); whereas real estate gained 1.28% and insurance 0.37%. The consumer goods and services index was rather flat.
More than 61% of the traded constituents were in the red with major losers being Qatar Electricity and Water, Qatar National Cement, Qatari Investors Group, Industries Qatar, Gulf International Services, Ooredoo, Islamic Holding Group, Doha Bank, QNB, Al Khaliji, Medicare Group, Barwa, Vodafone Qatar and Nakilat; even as Qamco, United Development Company, Ezdan, Al Meera and Gulf Warehousing were among the gainers.
Local retail investors’ net selling increased substantially to QR14.57mn compared to QR1.52mn on June 11.
Foreign institutions turned net sellers to the tune of QR4.74mn against net buyers of QR12.52mn the previous trading day.
Foreign individuals’ net profit booking grew marginally to QR1.96mn compared to QR1.88mn last Thursday.
However, domestic funds turned net buyers to the extent of QR23.97mn against net sellers of QR1.67mn on June 11.
The Gulf individuals were net buyers to the tune of QR0.77mn compared with net sellers of QR1.19mn the previous day.
The Arab institutions turned net buyer to the extent of QR0.43mn against no major exposure last Thursday.
The Arab individuals’ net selling decreased considerably to QR2.8mn compared to QR4.59mn on June 11.
The Gulf funds’ net profit booking weakened marginally to QR1.09mn against QR12.3mn the previous trading day.
Total trade volumes fell 14% to 158.37mn shares, value by 17% to QR247.93mn and transactions by 27% to 5,063.
There was 73% plunge in the transport sector’s trade volume to 3.12mn equities, 69% in value to QR9.37mn and 63% in deals to 199.
The banks and financial services sector’s trade volume plummeted 50% to 22.72mn stocks, value by 42% to QR70.22mn and transactions by 52% to 1,257.
The telecom sector reported 48% shrinkage in trade volume to 0.94mn shares, 52% in value to QR1.79mn and 48% in deals to 91.
The insurance sector’s trade volume tanked 30% to 3.22mn equities, value by 36% to QR5.06mn and transactions by 62% to 99.
The market witnessed 12% contraction in the consumer goods and services sector’s trade volume to 9.96mn stocks but on almost doubled value to QR31.49mn and 9% jump in deals to 614.
The industrials sector’s trade volume was down 6% to 27.44mn shares, value by 24% to QR38.07mn and transactions by 37% to 957.
However, the real estate sector saw 12% expansion in trade volume to 90.98mn equities, 33% in value to QR91.92mn and 41% in deals to 1,846.
In the debt market, there was no trading of sovereign bonds and treasury bills.

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