QSE Sees 62% Stocks End in Red; M-Cap Melts QR2.19bn

The Qatar Stock Exchange Thursday witnessed more than 62% of its traded constituents end in the red, leading its key barometer to lose as much as 43 points and capitalisation melt in excess of QR2bn.

The industrials and real estate counters witnessed higher than average selling pressure as the 20-stock Qatar Index shed 0.39% to 11,099.21 points, although it touched an intraday high of 11,181 points.

The local retail investors’ weakened net buying had its influence on the main market, whose year-to-date gains truncated further to 5%.

The Gulf funds’ lower net buying also had its effect on the main bourse, whose capitalisation melted QR2.19bn or 0.33% to QR662.66bn, mainly on microcap segments.

The Arab individuals’ weakened bullish grip made its impact on the main market, which saw as many as 1,760 exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR5,028 trade across seven deals.

The foreign institutions continued to be net sellers but with lesser intensity in the main bourse, whose trade turnover and volumes were on the rise.

The Islamic index was seen declining faster than the other indices of the main market, which saw no trading of treasury bills.

The foreign retail investors were seen bullish in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index shed 0.39%, the All Share Index by 0.28% and the All Islamic Index by 0.52% in the main market.

The industrials sector index declined 0.51%, realty (0.5%), consumer goods and services (0.36%), banks and financial services (0.28%) and transport (0.24%); while insurance and telecom gained 0.64% and 0.17% respectively.

Major shakers in the main market included Estithmar Holding, Baladna, Meeza, Inma Holding, Doha Bank, Qatar Islamic Bank, QIIB, Widam Food, Ezdan and Nakilat.

In the junior bourse, Techno Q saw its shares depreciate in value.

Nevertheless, Al Khaleej Takaful, Mannai Corporation, Al Mahhar Holding, Beema and Qatar Insurance were among the gainers in the main market.

The Gulf institutions’ net buying declined substantially to QR1.99mn compared to QR11.81mn the previous day.

The local individual investors’ net buying weakened significantly to QR3.46mn against QR11.65mn on September 3.

The Arab retail investors’ net buying shrank noticeably to QR5.24mn compared to QR10.86mn on Wednesday.

However, the domestic funds’ net buying strengthened marginally to QR9.07mn against QR8.63mn the previous day.

The foreign retail investors turned net buyers to the tune of QR4.04mn compared with net sellers of QR0.66mn on September 3.

The Gulf individual investors’ net buying increased perceptibly to QR2.92mn against QR0.77mn on Wednesday.

The foreign institutions’ net profit booking shrank markedly to QR26.72mn compared to QR43.06mn the previous day.

The Arab institutions had no major net exposure for the fourth straight session.

The main market saw a 5% jump in trade volumes to 140.8mn shares and 6% in value to QR426.98mn but on 34% shrinkage in deals to 20,093.

In the venture market, a total of 0.08mn equities valued at QR0.22mn changed hands across 22 transactions.