QSE settles lower on profit-taking by foreign institutions
July 13 2020 09:39 PM
QSE

The Qatar Stock Exchange (QSE) Monday weakened by more than 39 points to slide below 9,300 levels, mainly dragged by industrials, transport and banking sectors.
Foreign institutions were seen net profit-takers as the 20-stock Qatar Index settled 0.42% lower at 9,297.8 points, although it touched a low of 9,291 points in the first 30 minutes of the opening.
The increased net selling pressure from the Gulf institutions also had its role in dampening the bourse, whose year-to-date losses widened to 10.82%.
Market capitalisation saw more than QR2bn or 0.38% decrease to QR543.27bn mainly owing to midcap segments.
Islamic stocks were seen declining slower than the other indices in the market, which saw foreign and Arab retail investors turned net buyers.
Trade turnover grew amidst lower volumes in the market, where the real estate, banking and consumer goods sectors together accounted for more than 73% of the total trading volume.
The Total Return Index eased 0.42% to 17,874.41 points, Al Rayan Islamic Index (Price) by 0.35% to 2,095.16 points and All Share Index by 0.46% to 2,905.26 points.
The industrials index shrank 0.88%, transport (0.88%) and banks and financial services (0.52%); while telecom gained 0.7%, real estate (0.24%), insurance (0.15%) and consumer goods and services (0.11%).
Major decliners included Industries Qatar, Gulf International Services, Qatar National Cement, Qatar Industrial Manufacturing, Qatari Investors Group, Milaha, Qatar Islamic Bank, Qatar First Bank, Alijarah Holding, Salam International Investment, Medicare Group, Mazaya Qatar and United Development Company.
Nevertheless, Baladna, Vodafone Qatar, Barwa, Inma Holding (formerly Islamic Holding), Ahlibank Qatar, Qatar German Company for Medical Devices, Al Meera and Mannai Corporation were among the gainers.
Foreign institutions turned net sellers to the tune of QR7mn compared with net buyers of QR23.94mn on July 12.
The Gulf institutions’ net selling increased perceptibly to QR5.63mn against QR3.13mn the previous day.
However, domestic funds’ net buying strengthened notably to QR7mn compared to QR0.44mn on Sunday.
The Gulf individuals’ net buying also grew influentially to QR2.28mn against QR1.07mn on July 12.
Foreign individuals turned net buyers to the extent of QR1.93mn compared with net sellers of QR1.78mn the previous day.
The Arab individuals were also net buyers to the tune of QR1.82mn against net sellers of QR8.23mn on Sunday.
Local retail investors’ net profit-booking weakened significantly to QR0.4mn compared to QR12.43mn on July 12.
The Arab institutions had no major exposure against net buyers of QR0.07mn the previous day.
Total trade volumes fell 1% to 248.77mn shares, while value grew 44% to QR568.78mn and transactions by 17% to 9,264.
The market witnessed 47% plunge in the transport sector’s trade volume to 7.84mn equities, 47% in value to QR22.98mn and 50% in deals to 373.
The real estate sector’s trade volume plummeted 35% to 66.41mn stocks, value by 12% to QR112.88mn and transactions by 7% to 2,006.
There was 13% shrinkage in the consumer goods and services sector’s trade volume to 55.18mn shares and 7% in value to QR98.88mn but on 1% rise in deals to 1,958.
However, the telecom sector’s trade volume grew more than six-fold to 11.59mn equities and value by more than seven-fold to QR19.97mn on almost quadrupled transactions to 567.
The market witnessed 74% surge in the insurance sector’s trade volume to 4.39mn stocks and 82% in value to QR8.33mn but on more than doubled deals to 209.
The industrials sector’s trade volume shot up 64% to 42.56mn shares and value more than doubled to QR67.42mn on 58% growth in transactions to 1,681.
The banks and financial services sector saw 54% expansion in trade volume to 60.8mn equities, more than tripling value to QR238.31mn on 42% jump in deals to 2,470.
In the debt market, there was no trading of sovereign bonds and treasury bills.

Last updated: July 13 2020 09:43 PM


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