QSE Ends Three Days of Bull-Run as Index Loses 41 Points; M-Cap Melts QR1.28bn

Ending three consecutive days of bull-run, the Qatar Stock Exchange (QSE) Sunday opened the week weak with its key index losing more than 41 points and capitalisation melting in excess of QR1bn.

The banking counter witnessed higher than average selling pressure as the 20-stock Qatar Index lost 0.36% to 11,266.82 points, although it touched an intraday high of 11,312 points.

About 56% of the traded constituents were in the red in the main market, whose year-to-date gains truncated to 6.58%.

The foreign institutions’ weakened net buying had its influence on the main bourse, whose capitalisation melted QR1.28bn or 0.19% to QR675.33bn; mainly on small cap segments.

The Arab funds’ marginally lower net buying had its impact on the main market, which saw as many as 0.01mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.05mn trade across 10 deals.

The Arab individuals were increasingly net profit takers in the main bourse, whose trade turnover and volumes were on the decline.

The Islamic index was seen declining slower than the main barometer of the main market, which saw no trading of treasury bills.

The domestic institutions continued to be net sellers but with lesser intensity in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index shed 0.36%, the All Share Index by 0.28% and the All Islamic Index by 0.31% in the main market.

The banks and financial services sector index declined 0.51%, industrials (0.23%), consumer goods and services (0.12%) and real estate (0.1%); while telecom gained 0.78%, insurance (0.2%) and transport (0.18%).

As many as 15 stocks gained, while 29 declined and eight were unchanged.

Major losers in the main market included Qatar Islamic Bank, Widam Food, Qamco, Dukhan Bank, Gulf International Services, Al Faleh Educational Holding and Estithmar Holding. In the junior bourse, Techno Q saw its shares depreciate in value.

Nevertheless, Meeza, Baladna, Medicare Group, QLM, QIIB, Al Mahhar Holding, Beema, Ooredoo, Vodafone Qatar and Milaha were among the movers in the main market.

The Arab individual investors’ net profit booking increased noticeably to QR6.17mn against QR1.48mn last Thursday.

The foreign institutions’ net buying decreased substantially to QR9.02mn compared to QR231.95mn on September 18.

The Arab institutions’ net buying weakened marginally to QR0.05mn against QR0.06mn the previous trading day.

However, the Gulf institutions turned net buyers to the extent of QR9.83mn compared with net sellers of QR4.42mn last Thursday.

The Gulf individual investors were net buyers to the tune of QR0.16mn against net sellers of QR1.98mn on September 18.

The domestic funds’ net selling shrank drastically to QR5.5mn compared to QR129.16mn the previous trading day.

The local individual investors’ net selling weakened considerably to QR5.85mn against QR91.58mn last Thursday.

The foreign retail investors’ net profit booking eased markedly to QR1.53mn compared to QR3.38mn on September 18.

The main market saw 51% plunge in trade volumes to 147.65mn shares, 62% in value to QR412.21mn and 17% in deals to 19,963.

In the venture market, a total of 0.04mn equities valued at QR0.1mn changed hands across 22 transactions.