QSE Breaks Six Days of Winning Streak as Key Index Loses 18 Points; M-Cap Melts QR1.31bn

Ending six consecutive days of bullish run, the Qatar Stock Exchange (QSE) on Monday fell more than 18 points on selling pressure especially in the consumer goods, transport and industrials sectors.

The local retail investors were increasingly net profit takers as the 20-stock Qatar Index shed 0.17% to 10,749.48 points, although it touched an intraday high of 10,799 points.

The Arab individuals turned net sellers in the main market, whose year-to-date gains truncated to 1.69%.

More than 71% of the traded constituents were in the red in the main bourse, whose capitalisation shed QR1.31bn or 0.21% to QR635.35bn mainly on account of microcap segments.

The foreign retail investors were seen bearish in the main market, which saw 0.04mn exchange traded funds (sponsored by AlRayan Bank) valued at QR0.09mn trade across seven deals.

The foreign institutions’ weakened net selling had its influence on the main bourse, whose trade turnover grew amidst lower volumes.

 The Islamic index was seen declining slower than the main barometer of the main market, which saw no trading of treasury bills. However, the domestic institutions were increasingly net buyers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index lost 0.17%, the All Share Index by 0.09% and the All Islamic Index by 0.16% in the main market.

The consumer goods and services sector index declined 0.55%, transport (0.43%), industrials (0.32%), telecom (0.2%), banks and financial services (0.08%) and real estate (0.04%); while insurance gained 3.22%.

Major shakers in the main market include Qatar General Insurance and Reinsurance, Meeza, Medicare Group, Dlala, Qatar German Medical Devices, Salam International Investment, Baladna, Industries Qatar, Ezdan and Mazaya Qatar. In the junior bourse, Techno Q saw its shares depreciate in value.

Nevertheless, Qatar Insurance, Gulf Warehousing, Qatar Electricity and Water, Ahlibank Qatar, Al Mahhar Holding and Mesaieed Petrochemical Holding were among the movers in the main market. 

The local retail investors’ net selling increased substantially to QR43.25mn compared to QR26.38mn the previous day.

The Arab individual investors turned net sellers to the tune of QR9.92mn against net buyers of QR6.98mn on June 29.

The foreign retail investors were net profit takers to the extent of QR2.59mn compared with net buyers of QR1.19mn on Sunday.

The foreign institutions’ net buying weakened significantly to QR4.99mn against QR25.15mn the previous day.

However, the domestic funds turned net buyers to the tune of QR33.06mn compared with net sellers of QR3.56mn on June 29.

The Gulf institutions were net buyers to the extent of QR16.17mn against net profit takers of QR2.11mn on Sunday.

The Gulf retail investors turned net buyers to the tune of QR1.55mn compared with net sellers of QR1.27mn the previous day.

The Arab institutions had no major net exposure against net buyers to the extent of QR0.08mn on June 29.

The main market saw 2% fall in trade volumes to 178.83mn shares but on 19% jump in value to QR481.45mn and 77% in deals to 25,564.

 In the venture market, a total of 0.09mn equities valued at QR0.25mn changed hands across 32 transactions.