Banking stocks drag QSE; index tanks 267 points, M-cap erodes QR16bn
May 15 2022 11:36 PM

Severe selling, especially in the banking sector, on Sunday led the Qatar Stock Exchange plunge 267 points and its key index fell below 13,000 points and capitalisation eroded by QR16bn.
Global concerns as entrenching inflation and rising interest rates continued to haunt as the 20-stock Qatar Index plummeted 2.03% to 12,876.61 points, although it touched an intraday high of 13,221 points.
The domestic institutions were increasingly bearish in the market, which was up 10.76% year-to-date.
The foreign individuals’ net buying weakened considerably in the bourse, whose capitalisation eroded 2.15% to QR727.22bn, mainly on the back of large cap segments.
The local retail investors’ net buying also fell in the market, where the consumer goods, industrials and banking sectors together accounted for about 90% of the trading volume.
The domestic funds continued to be net sellers but with lesser intensity in the bourse, which saw a total of 83,970 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.94mn changed hands across 23 deals.
The foreign institutions were seen increasingly into net buying in the market, which saw no trading of sovereign bonds.
Total trade turnover shrank amidst higher volumes in the bourse, which saw no trading of treasury bills.
The Total Return Index tanked 2.03% to 26,375.48 points, All Share Index by 2.15% to 4,144.82 points and Al Rayan Islamic Index (Price) by 1.51% to 2,751.42 points.
The banks and financial services sector index tanked 3.49%, telecom (1.9%), transport (1.64%), realty (0.3%), insurance (0.2%) and industrials (0.07%); while consumer goods and services gained 0.21%.
About 80% of the traded constituents in the main market were in the red and included Masraf Al Rayan, QNB, Qatari German Medical Devices, Nakilat, Aamal Company, Commercial Bank, QIIB, Dlala, Mannai Corporation, Gulf International Services, Ooredoo, Ezdan and Vodafone Qatar. In the venture market, Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value.
Nevertheless, Baladna, Woqod, Qatar Electricity and Water, Mazaya Qatar and Industries Qatar were among the gainers in the main market.
The domestic funds’ net profit booking increased considerably to 82.72mn against QR70.77mn on May 12.
Qatari individuals’ net buying weakened perceptibly to QR66.85mn compared to QR71.34mn the previous day.
The foreign individuals’ net buying shrank noticeably to QR1.17mn against QR10.22mn last Thursday.
However, the foreign institutions’ net buying increased markedly to QR33.8mn compared to QR25.98mn on May 12.
The Arab individuals were net buyers to the extent of QR2.27mn against net sellers of QR6.1mn the previous day.
The Gulf individuals’ net buying grew marginally to QR1.83mn compared to QR0.34mn last Thursday.
The Gulf institutions’ net profit booking weakened perceptibly to QR23.22mn against QR30.91mn on May 12.
The Arab funds had no major next exposure compared with net profit takers of QR0.09mn the previous day.
Total trade volume in the main market rose 2% to 183.63mn shares, while value fell 20% to QR664.09mn and transactions by 53% to 11,815.
The consumer goods and services sector’s trade volume soared 80% to 60.66mn equities and value by 33% to QR92.95mn, whereas deals shrank 23% to 1,365.
The banks and financial services sector saw 20% surge in trade volume to 49.94mn stocks but on 6% decline in value to QR362.87mn and 55% in transactions to 6,019.
However, the telecom sector’s trade volume plummeted 59% to 2.57mn shares, value by 76% to QR5.32mn and deals by 78% to 258.
There was 47% plunge in the real estate sector’s trade volume to 8.06mn equities, 49% in value to QR11.1mn and 59% in transactions to 332.
The insurance sector’s trade volume tanked 35% to 5.71mn stocks, value by 38% to QR14.13mn and deals by 59% to 152.
The market witnessed 35% contraction in the transport sector’s trade volume to 2.54mn shares, 40% in value to QR10.46mn and 31% in transactions to 398.
The industrials sector’s trade volume tanked 24% to 54.15mn equities, value by 41% to QR167.26mn and deals by 53% to 3,291.
In the venture market, trade volumes almost tripled to 0.11mn stocks and value almost doubled to QR0.45mn on 35% jump in transactions to 27.

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