Foreign institutions’ weakened buying interests drag QSE
November 20 2018 08:57 PM

An across-the-board selling, particularly in the banking counter, on Tuesday dragged the Qatar Stock Exchange more than 130 points to settle below 10,300 levels.

Foreign institutions’ buying interests substantially weakened and there was increased net selling by domestic funds as the 20-stock Qatar Index shed 1.25% to 10,268.07 points.

However, there was weakened net selling by local retail investors and non-Qatari individuals turned bullish on the market, which is up 20.47% year-to-date.

Market capitalisation declined about QR10bn or 1.64% to QR578.94bn, mainly on account of large and midcap equities.

Islamic equities were seen declining slower than the other indices in the market, where Gulf individuals were marginally bearish.

Trade turnover and volumes were on the decline on the bourse, where banking and real estate sectors together accounted for more than 72% of the total volume.

The Total Return Index shed 1.25% to 18,091.19 points, All Share Index by 1.4% to 3,049.12 points and Al Rayan Islamic Index (Price) by 0.51% to 2,400.12 points.

The banks and financial services index tanked 2.06%, telecom (1.2%), industrials (1.01%), realty (0.87%), transport (0.58%), consumer goods (0.4%) and insurance (0.33%).

About 58% of the traded stocks were in the red with major losers being QNB, Qatar Islamic Bank, Doha bank, Alijarah Holding, Qatar National Cement, Industries Qatar, Barwa, Gulf International Services, Ooredoo and Nakilat; even as Medicare Group and Vodafone Qatar were among the gainers.

Non-Qatari institutions’ net buying decreased significantly to QR4.46mn compared to QR111.64mn on Monday.

Domestic institutions’ net profit booking increased considerably to QR8.62mn against QR0.57mn the previous day.

The Gulf individuals turned net sellers to the tune of QR0.1mn compared with net buyers of QR0.21mn on November 19.

However, non-Qatari individuals were net buyers to the extent of QR1.39mn against net sellers of QR7.07mn on Monday.

Local individuals’ net buying weakened influentially to QR1.69mn compared to QR88.72mn the previous day.

Total trade volume fell 29% to 4.9mn shares, value by 45% to QR196.36mn and transactions by 42% to 3,877.

The transport sector’s trade volume plummeted 83% to 0.08mn equities, value by 74% to QR2.85mn and deals by 68% to 130.

There was 72% plunge in the insurance sector’s trade volume to 0.05mn stocks, 68% in value to QR1.7mn and 65% in transactions to 70.

The consumer goods sector’s trade volume tanked 59% to 0.15mn shares, value by 74% to QR15.05mn and deals by 51% to 373.

The telecom sector reported 53% shrinkage in trade volume to 0.57mn equities, 55% in value to QR18.81mn and 70% in transactions to 245.

The industrials sector’s trade volume declined 29% to 0.51mn stocks, value by 46% to QR22.75mn and deals by 54% to 595.

The real estate sector saw 29% contraction in trade volume to 0.93mn shares, 32% in value to QR18.25mn and 26% in transactions to 733.

The banks and financial services sector’s trade volume was down 2% to 2.6mn equities, value by 31% to QR116.96mn and deals by 21% to 1,731.

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

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