Qatar Bourse Snaps 4-Day Rally On Foreign Profit-Booking

The Qatar Exchange opened the week weak yesterday, snapping four days of a bullish spell, mainly on higher net profit-booking by foreign institutions.

Mid and large cap equities saw brisk selling as the 20-stock QE Index (based on price data) settled 0.23% lower at 8,422.89 points. The market is down 4.06% year-to-date.

The 20-stock Total Return Index was also fell 0.23% to 11,399.21 points and the All Share Index (comprising wider constituents) by 0.23% to 2,025.38 points respectively. Both the indices factored in dividend income as well.

Under the All Share Index category, the telecom index shrank 1.18%, followed by insurance (0.66%), banks and financial services (0.34%), transport (0.11%) and industrials (0.05%); while that of real estate gained 0.62% and consumer goods 0.10%.

Major shakers included Doha Bank, Mawashi, Industries Qatar, Mazaya Qatar and Vodafone Qatar; even as Qatari Investors Group and Nakilat bucked the trend.

Market capitalisation fell 0.19% or QR89mn to QR461.92bn with mid and large cap equities melting 0.40% and 0.29%; while small and micro caps gained 0.22% and 0.08% respectively.

Of the 42 stocks, 18 each advanced and declined, while five were unchanged and one was not traded.

Foreign institutions’ net selling surged to 17.72% or QR21.91mn. A much lower 11.82% of them bought equities compared to 42.90% last Thursday and a much lower 29.54% offloaded against 43.96%.

On the other hand, domestic institutions turned net buyers to the tune of 10.76% or QR13.30mn. A higher 23.48% of them were into buying against 20.34% the previous day, while a lower 12.72% of them into selling compared to 22.87%.

Qatari individual investors’ net buying rose to 8.28% or QR10.24mn. A much higher 49.90% of them purchased equities compared to 27.88% the previous day and a much higher 41.62% sold against 25.30%.

Non-Qatari retail investors turned net sellers to the extent of 1.32% or QR1.63mn. A higher 14.80% of them were into buying against 8.87% last Thursday and a higher 16.12% compared to 7.86%.

Total trading volume fell 25% to 3.48mn shares, value by 38% to QR123.62mn and deals by 15% to 2,370.

The telecom sector’s trading volume plummeted 70% to 0.13mn shares, value by 78% to QR1.84mn and transactions by 57% to 97.

The banks and financial services sector’s trading volume plunged 58% to 0.93mn shares, value by 62% to QR36.87mn and deals by 41% to 601.

The insurance sector’s trading volume tanked 50% to 0.01mn shares, value by 25% to QR0.50mn and transactions by 8% to 22.

The industrials sector’s trading volume declined 29% to 0.55mn shares, value by 38% to QR40.52mn and deals by 36% to 474.

However, the consumer goods and services sector’s trading volume more than doubled to 1.09mn shares and value also more than doubled to QR29.82mn on an 88% jump in transactions to 647.

The real estate sector’s trading volume surged 31% to 0.38mn shares, value by 3% to QR6.27mn and deals by 28% to 272.

The transport sector’s trading volume was up 8% to 0.39mn shares, while value fell 2% to QR7.80mn but transactions rose 14% to 257.

Actively traded stocks (in terms of volume) were Qatari German Company for Medical Devices (760,894 shares); Masraf Al Rayan (373,530); Nakilat (339,766); Mazaya Qatar (240,710) and Gulf International Services (235,830).

In the debt market, there was no trading of treasury bills.

Gulf times