QSE sees course correction; index falls 167 points, M-cap erodes QR7bn
August 02 2022 08:14 PM
QSE
The domestic funds were increasingly into net selling as the 20-stock Qatar Index shrank 1.24% to 13,302.33 points Tuesday, although it touched an intraday high of 13,477 points.

An across the board selling – particularly in the realty, industrials and telecom sectors Tuesday dragged the Qatar Stock Exchange and its key index fell 167 points and capitalisation eroded QR7bn.
The domestic funds were increasingly into net selling as the 20-stock Qatar Index shrank 1.24% to 13,302.33 points, although it touched an intraday high of 13,477 points.
More than 61% of the traded constituents were in the red in the market, whose year-to-date gains were at 14.42%.
The foreign institutions’ weakened net buying had its influence in the bourse, whose capitalisation eroded 0.96% to QR735.87bn, mainly on the back of large and mid-cap segments.
The Islamic index was seen declining faster than the other indices in the market, where the industrials and consumer goods sectors together constituted about 70% of the total trading volume.
The Gulf individuals were increasingly into net selling in the bourse, which saw a total of 0.06mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.67mn changed hands across 37 deals.
The foreign individuals’ net selling was seen increasing in the market, which saw no trading of sovereign bonds.
The local retail investors nevertheless turned net buyers in the bourse, which saw no trading of treasury bills.
The Total Return Index fell 1.24% to 27,247.5 points, All Share Index by 1.04% to 4,215.36 points and Al Rayan Islamic Index (Price) by 1.54% to 2,902.4 points.
The real estate sector index tanked 2.36%, industrials (1.51%), telecom (1.45%), transport (0.98%), banks and financial services (0.83%), insurance (0.54%) and consumer goods and services (0.43%).
Major losers in the main market included Qatar Industrial Manufacturing, United Development Company, Mannai Corporation, Qatar Islamic Bank, Qatar Islamic Insurance, Masraf Al Rayan, Industries Qatar, Barwa, Qatar Electricity and Water, Ooredoo and Milaha. In the venture market, Mekdam Holding saw its shares depreciate in value.
Nevertheless, Qatari German Medical Devices, Dlala, Qatar Oman Investment, Salam International Investment, Estithmar Holding and Al Khaleej Takaful were among the gainers in the main market. In the juniour bourse, Al Faleh Educational Holding saw its shares appreciate in value.
The domestic institutions’ net selling increased considerably to QR56.71mn compared to QR42.98mn on August 1.
The foreign individuals’ net profit booking expanded noticeably to QR2.52mn against QR0.79mn on Monday.
The Gulf retail investors’ net selling grew marginally to QR0.69mn compared to QR0.42mn the previous day.
The foreign institutions’ net buying decreased substantially to QR50.48mn against QR86.33mn on August 1.
However, the Gulf institutions’ net buying grew notably to QR5.77mn compared to QR4.49mn on Monday.
Local retail investors turned net buyers to the tune of QR2.33mn against net sellers of QR37.82mn the previous day.
The Arab individuals were net buyers to the extent of QR0.34mn compared with net sellers of QR8.9mn on August 1.
The Arab funds had no major net exposure against net buyers to the extent of QR0.1mn on Monday.
Total trade volume in the main market shrank 26% to 287.45mn shares, value by 28% to QR718.99mn and transactions by 20% to 19,626.
In the venture market, trade volumes stood at 0.55mn stocks, value at QR3.93mn and transactions at 229.



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