QSE declines on selling pressure, weak buying interests by funds

The Qatar Stock Exchange on Sunday opened the week weak, after four consecutive days of bearish spell, mainly on substantially weakened buying interests of foreign and Gulf funds.

Selling pressure – especially in real estate, industrials and insurance – led the 20-stock Qatar Index decline 0.45% to 9,155.55 points.Doha Bank and Masraf Al Rayan sponsored exchange traded funds QETF and QATR witnessed 0.66% and 0.55% declines respectively.However, domestic funds as well as Gulf and non-Qatari individuals turned net buyers on the market, which is up 7.42% year-to-date.Large, mid and microcap segments witnessed selling pressure on the bourse, whose capitalisation fell 0.44% to QR511.7bn.Trade turnover and volumes were on the decline on the market, where industrials and telecom sectors together accounted for more than 66% of the total volume.The Total Return Index shed 0.45% to 16,131.07 points, All Share Index by 0.61% to 2,722.84 points and Al Rayan Islamic Index (Price) by 0.62% to 2,279.74 points.The realty index plummeted 2.64%, industrials (0.62%), insurance (0.54%), banks and financial services (0.34%) and transport (0.32%); whereas consumer goods gained 1.46% and telecom 0.46%.Major decliners included Ezdan, Barwa, Industries Qatar, Aamal Company, Qatari Investors Group, Gulf Warehousing, Nakilat, Qatar Islamic Bank, QNB, Commercial Bank and Qatari German Company for Medical Devices; while Mesaieed Petrochemical Holding, Gulf International Services, Mazaya Qatar, Ooredoo, Qatar Oman Investment, Salam International Investment and Vodafone Qatar were among the gainers.Non-Qatari institutions’ net buying weakened considerably to QR3.05mn compared to QR87.44mn on April 19.The Gulf institutions’ net buying also declined considerably to QR1.44mn against QR14.32mn the previous trading day.However, domestic institutions turned net buyers to the tune of QR6.58mn compared with net sellers of QR40.2mn last Thursday.Non-Qatari individuals were also net buyers to the extent of QR3.41mn against net sellers of QR7.32mn on April 19.The Gulf individuals turned net buyers to the tune of QR1.73mn compared with net sellers of QR2.99mn the previous trading day.Local individuals’ net profit booking weakened significantly to QR16.21mn against QR51.22mn last Thursday.Total trade volume fell 24% to 12.27mn shares, value by 50% to QR224.45mn and transactions by 47% to 3,054.The banks and financial services sector saw 58% plunge in trade volume to 1.52mn equities, 81% in value to QR41.66mn and 66% in deals to 696.The transport sector’s trade volume plummeted 45% to 0.32mn stocks, value by 47% to QR6.07mn and transactions by 40% to 202.The telecom sector reported 35% shrinkage in trade volume to 3.68mn shares, 36% in value to QR38.2mn and 47% in deals to 337.The insurance sector’s trade volume tanked 27% to 0.11mn equities, value by 22% to QR3.76mn and transactions by 43% to 71.There was 25% decline in the real estate sector’s trade volume to 1.77mn stocks, 33% in value to QR22.24mn and 43% in deals to 520.However, the industrials sector’s trade volume soared 38% to 4.43mn shares; while value shrank 22% to QR80.3mn and transactions by 34% to 893.The market witnessed 5% jump in the consumer goods sector’s trade volume to 0.44mn equities, 70% in value to QR32.22mn and 21% in deals to 335.In the debt market, there was no trading of treasury bills and sovereign bonds.