Qatar Shares Edge Up Amid Profit-Booking

The Qatar Exchange yesterday overcame the initial profit-booking pressures to close in the positive territory although trading was largely subdued.

Telecom and consumer goods were most sought after as the 20-stock QE Index (based on price data) settled 0.05% higher at 8,335.48 points. The market is, however, down 5.05% year-to-date.

The 20-stock Total Return Index was also up 0.05% to 11,280.92 points and the All Share Index (comprising wider constituents) by 0.07% to 2,004.19 points respectively. Both the indices factored in dividend income as well.

Under the All Share Index category, the insurance index gained 1.80%, followed by telecom (0.83%), consumer goods (0.22%) and industrials (0.17%); while banks and financial services fell 0.20%, realty 0.16% and transport 0.09%.

Major gainers included Commercialbank (Cb), Gulf International Services (GIS), Industries Qatar and Qatar Telecom; even as QNB, Mawashi and Vodafone Qatar bucked the trend.

Market capitalisation was up 0.07% or QR33mn to QR457.49bn with mid and large cap equities gaining 0.08% and 0.07%,while micro and small caps fell 0.17% and 0.03% respectively.

Foreign institutions turned net buyers to the tune of 2% or QR1.61mn. A much higher 26.86% of them were into buying against 16.37% the previous trading day and a much higher 24.86% of them into selling compared to 16.42%.

However, domestic institutions turned net sellers to the extent of 1.56% or QR1.25mn. A lower 20.40% of them bought equities compared to 26.08% last Thursday and a higher 21.96% offloaded against 17.75%.

Qatari individual investors’ net selling plunged to 1.44% or QR1.17mn. A lower 37.37% of them purchased equities compared to 44.42% previous day and a much lower 38.72% sold against 57.26%.

Non-Qatari retail investors’ net buying sunk to 0.91% or QR0.73mn. A higher 15.37% of them were into buying against 13.13% last Thursday and a higher 14.46% compared to 8.57%.

Total trading volume shrank 50% to 1.51mn shares, value by 55% to QR80.42mn and deals by 27% to 1,640.

The consumer goods and services sector’s trading volume plummeted 66% to 0.13mn shares, value by 31% to QR9.72mn and transactions by 43% to 210.

The real estate sector’s trading volume plunged 60% to 0.06mn shares, value by 55% to QR1.31mn and deals by 59% to 53.

The banks and financial services sector’s trading volume tanked 55% to 0.65mn shares, value by 66% to QR35.51mn and transactions by 29% to 627.

The industrials sector’s trading volume declined 43% to 0.24mn shares, value by 33% to QR19.93mn and deals by 15% to 397.

The telecom sector’s trading volume fell 36% to 0.23mn shares, value by 73% to QR6.13mn and transactions by 42% to 155.

The insurance sector’s trading volume was down 36% to 0.07mn shares and value by 41% to QR2.08mn while deals gained 42% to 64.

However, the transport sector’s trading volume surged 15% to 0.15mn shares and value more than doubled to QR5.73mn on a 63% jump in transactions to 134.

Actively traded stocks (in terms of volume) were Masraf Al Rayan (249,990 shares); Vodafone Qatar (182,667); Cb (131,317) and GIS (118,301).

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