Qatar shares edge lower on realty, banking sell pressure
December 02 2018 08:38 PM

Strong selling, especially in real estate and banking sectors, led the Qatar Stock Exchange to close in the negative on Sunday.

Foreign funds turned bearish and domestic institutions’ buying interests substantially weakened as the 20-stock Qatar Index settled 0.46% lower at 10,316.96 points.

Buying interests from Gulf and non-Qatari individuals as well as Gulf funds were seen easing in the market, which is however up 21.04% year-to-date.

Market capitalisation eroded about QR5bn, or 0.79%, to QR583.78bn, mainly owing to large cap segments.

Islamic equities were seen declining slower than the other indices in the market, where local retail investors continued to be bearish but with less vigour.

Trade turnover and volumes were on the decline in the bourse, where banks alone accounted for about 47% of the total volume.

The Total Return Index declined 0.46% to 18,177.34 points, the All Share Index by 0.82% to 3,074.78 points and the Al Rayan Islamic Index (Price) by 0.12% to 2,391.14 points.

The realty index shrank 1.83%, followed by banks and financial services (1.14%), transport (0.64%), insurance (0.49%) and industrials (0.11%); whereas telecom and consumer goods gained 0.42% and 0.3% respectively.

More than 56% of the traded stocks were in the red with major shakers being Ezdan, QNB, Qatar Islamic Bank, Commercial Bank, Vodafone Qatar, Milaha, Nakilat and Masraf Al Rayan; even as Doha Bank, QIIB, Qatar National Cement, Qatar Electricity and Water, Ooredoo and United Development Company were among the gainers.

Non-Qatari funds turned net sellers to the tune of QR0.71mn compared with net buyers of QR68.21mn on November 29.

Domestic institutions’ net buying declined considerably to QR1.96mn against QR34.11mn the previous trading day.

Gulf individual investors’ net buying weakened perceptibly to QR0.78mn compared to QR2.2mn last Thursday.

Non-Qatari individual investors’ net buying contracted influentially to QR0.51mn against QR1.74mn on November 29.

Gulf institutions’ net buying also eased to QR0.16mn compared to QR1.28mn the previous trading day.

However, local individuals’ net profit-booking fell significantly to QR2.7mn against QR107.53mn last Thursday.

Total trade volume fell 90% to 3.34mn shares, value by 94% to QR72.19mn and transactions by 80% to 2,244.

The real estate sector’s trade volume plummeted 93% to 0.77mn equities, value by 96% to QR13.36mn and deals by 74% to 720.

The banks and financial services sector saw a 92% plunge in trade volume to 1.56mn stocks, 96% in value to QR25.51mn and 88% in transactions to 696.

The transport sector’s trade volume tanked 73% to 0.33mn shares, value by 85% to QR3.15mnm and deals by 77% to 92.

There was a 69% shrinkage in the insurance sector’s trade volume to 0.08mn equities, 71% in value to QR2.78mn and 70% in transactions to 66.

The consumer goods sector’s trade volume shrank 63% to 0.07mn stocks, value by 64% to QR6.25mn and deals by 60% to 109.

The telecom sector reported a 63% decline in trade volume to 0.33mn shares, 68% in value to QR9.54mn and 60% in transactions to 273.

The industrials sector’s trade volume contracted 58% to 0.38mn equities, value by 83% to QR11.61mn and deals by 70% to 288.

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

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