QSE settles marginally lower on sell pressure from domestic institutions
May 05 2019 09:26 PM

The Qatar Stock Exchange on Sunday saw substantially increased selling pressure from domestic institutions; yet it settled marginally lower.

Insurance, banking and telecom counters witnessed higher-than-average profit booking as the 20-stock Qatar Index settled 0.18% lower at 10,461.49 points.

The weakened buying interests from foreign and Gulf institutions also dampened the market, whose sensitive index is however up 1.58% year-to-date.

Market capitalisation was down QR47mn or 0.08% to QR586.04bn mainly owing to microcap segments.

Islamic equities were seen gaining vis-à-vis decline in the other indices on the market, where local and Gulf retail investors turned bullish.

Trade turnover and volumes were on the decline on the bourse, where industrials alone accounted for more than 56% of the total volume.

The Total Return Index fell 0.18% to 19,250.03 points and All Share Index by 0.15% to 3,177.4 points, while Al Rayan Islamic Index (Price) rose 0.12% to 2,371.38 points.

The insurance tanked 2.21%, banks and financial services (0.7%) and telecom (0.27%); whereas consumer goods index gained 2.49%, transport (0.63%), industrials (0.39%) and realty (0.05%).

About 62% of the traded stocks were in the red with major losers being Qatar Insurance, Qatar Islamic Bank, Commercial Bank, Dlala, Qatari German Company for Medical Devices, Milaha, Vodafone Qatar, Ooredoo and Medicare Group; even as Woqod, Gulf International Services, Mesaieed Petrochemical Holding, QIIB, Alijarah Holding, United Development Company and Gulf Warehousing were among prime gainers.

Domestic institutions’ net profit booking increased significantly to QR22.32mn compared to QR3.96mn last Thursday.

Non-Qatari institutions’ net buying declined considerably to QR12.1mn against QR41.62mn the previous trading day.

The Gulf institutions’ net buying also weakened noticeably to QR4.24mn compared to QR9.17mn on May 2.

However, local retail investors turned net buyers to the tune of QR3.05mn against net sellers of QR41.28mn last Thursday.

The Gulf individuals were also net buyers to the extent of QR1.53mn compared with net sellers of QR0.31mn the previous day.

Non-Qatari individuals turned net buyers to the tune of QR1.43mn against net profit takers of QR5.21mn on May 2.

Total trade volume fell 43% to 10.77mn shares, value by 31% to QR216.11mn and transactions by 30% to 4,673.

The realty sector’s trade volume plummeted 70% to 0.85mn equities, value by 68% to QR11.45mn and deals by 68% to 452.

The banks and financial services sector saw 61% plunge in trade volume to 1.88mn stocks, 63% in value to QR39.44mn and 50% in transactions to 730.

The transport sector’s trade volume tanked 51% to 0.31mn shares, value by 34% to QR9.34mn and deals by 32% to 249.

The insurance sector reported 45% shrinkage in trade volume to 0.17mn equities, 30% in value to QR4.78mn and 47% in transactions to 127.

The industrials sector’s trade volume declined 31% to 6.04mn stocks, value by 7% to QR96.13mn and deals by 5% to 2,325.

There was 11% fall in the telecom sector’s trade volume to 0.8mn shares but on 3% jump in value to QR8.07mn despite 18% lower transactions at 205.

However, the market witnessed 4% growth in the consumer goods sector’s trade volume to 0.71mn equities, 29% in value to QR46.89mn and 25% in deals to 585.

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

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