Global recession fears drag QSE 202 points; M-cap erodes QR11bn
July 06 2022 08:00 PM
QSE

Global recession fears had its ripple effect on the Qatar Stock Exchange, which Wednesday fell 202 points.
A higher than average selling pressure in the consumer goods and industrials sectors led the 20-stock Qatar Index to fall 1.65% to 12,060.82 points, but recovering from an intraday low of 12,003 points.
The domestic institutions turned bearish in the market, whose year-to-date gains were at 3.74%.
The Gulf funds were also seen net profit takers in the bourse, whose capitalisation saw about QR11bn, or 1.56%, decrease to QR672.59bn, mainly on the back of large and midcap segments.
The Islamic index was seen declining slower than the other indices in the market, where the industrials and banking sectors together constituted more than 64% of the total trading volume.
The Arab individuals’ net selling grew marginally in the bourse, which saw a total of 0.18mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.96mn changed hands across 38 deals.
However, the local retail investors turned bullish in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the higher side in the bourse, which saw no trading of treasury bills.
The Total Return Index shrank 1.65% to 24,704.48 points, the All Share Index by 1.47% to 3,864.59 points and the Al Rayan Islamic Index (Price) by 1.4% to 2,625.93 points.
The consumer goods and services sector index tanked 2.79%, industrials (2.67%), banks and financial services (1.05%), transport (0.94%), realty (0.9%) and telecom (0.83%); while insurance was up 0.15%.
More than 86% of the traded constituents were in the red in the main market with major losers being Gulf International Services, Mannai Corporation, Qatari German Medical Devices. Industries Qatar, Salam International Investment, Commercial Bank, Qatar Islamic Bank, Masraf Al Rayan, Woqod, Baladna, Qamco, Estithmar Holding, Ezdan, Mazaya Qatar and Nakilat.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding fell.
Nevertheless, Qatar Electricity and Water, Qatar Industrial Manufacturing, Qatar Insurance and QIIB were among the gainers in the main market.
The domestic funds turned net sellers to the tune of QR34.6mn compared with net buyers of QR5.74mn on July 5.
The Arab individuals’ net profit booking grew marginally to QR4.74mn against QR6.94mn the previous day.
The Gulf institutions were net sellers to the extent of QR4.73mn compared with net buyers of QR5.62mn on Tuesday.
The Arab institutions turned net sellers to the tune of QR0.1mn against net buyers of QR1.34mn on July 5.
However, the foreign funds’ net buying grew markedly to QR31.98mn compared to QR25.2mn the previous day.
The Qatari individuals were net buyers to the extent of QR9.71mn against net buyers of QR29.65mn on Tuesday.
The foreign individuals turned net buyers to the tune of QR1.9mn compared with net sellers of QR1.5mn on July 5.
The Gulf individuals’ net buying expanded marginally to QR0.6mn against QR0.2mn the previous day.
Total trade volume in the main market rose 18% to 118.7mn shares, value by 20% to QR420.99mn and transactions by 31% to 15,357.
In the venture market, trade volumes plummeted 45.95% to 0.2mn stocks, value by 37.93% to QR1.08mn and deals by 13.64% to 95.



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