Weak Oil Prices Weaken QSE Sentiments as Index Falls 47 Points; M-Cap Melts QR2.51bn

Oil price slippage had its reflection on the Qatar Stock Exchange, which Monday lost as much as 47 points as the Arab individual investors turned net profit takers.

The insurance, industrials, transport and banking counters witnessed higher than average selling pressure as the 20-stock Qatar Index shed 0.42% to 11,175.48 points, although it touched an intraday high of 11,230 points.

The Gulf institutions were seen bearish in the main market, whose year-to-date gains truncated further to 5.72%.

The domestic funds’ weakened net buying had its influence on the main bourse, whose capitalisation melted QR2.51bn or 0.37 to QR667.34bn, mainly on small and microcap segments.

The local retail investors continued to be net sellers but with lesser intensity in the main market, which saw as many as 2,438 exchange traded funds (sponsored by Doha Bank) valued at QR0.03mn trade across six deals.

The foreign individuals turned net buyers in the main bourse, whose trade turnover and volumes were on the decline.

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

The foreign institutions turned bullish in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index shed 0.42%, the All Share Index by 0.39% and the All Islamic Index by 0.32% in the main market.

The insurance sector index declined 0.8%, industrials (0.58%), transport (0.51%), banks and financial services (0.44%) and telecom (0.33%): while consumer goods and services gained 0.68% and real estate 0.12%.

About 53% of the traded constituents were in the red with major losers in the main market being Estithmar Holding, Milaha, Qatar Insurance, QIIB, Commercial Bank, Industries Qatar, Ooredoo and Qatar Electricity and Water.

Nevertheless, Qatar German Medical Devices, Meeza, Woqod, AlRayan Bank, Baladna and Al Faleh Educational Holding were among the movers in the main bourse. In the venture market, Techno Q saw its shares appreciate in value.

The Arab individual investors turned net sellers to the tune of QR1.76mn compared with net buyers of QR2.24mn on Sunday.

The Gulf institutions were net sellers to the extent of QR1.26mn against net buyers of QR9.82mn the previous day.

The domestic institutions’ net buying decreased noticeably to QR1.21mn compared to QR6.37mn on August 31.

However, the foreign retail investors turned net buyers to the tune of QR5.64mn against net sellers of QR0.8mn on Sunday.

The foreign institutions were net buyers to the extent of QR2.07mn compared with net sellers of QR12.01mn the previous day.

The Gulf individual investors’ net buying expanded perceptibly to QR1.45mn against QR0.52mn on August 31.

The local retail investors’ net profit booking weakened markedly to QR3.2mn compared to QR6.45mn on Sunday.

The Arab institutions had no major net exposure against net buyers to the extent of QR0.32mn the previous day.

The main market saw 2% slump in trade volumes to 105.81mn shares, less than 1% in value to QR278.54n and 17% in deals to 14,385.

In the venture market, a total of 0.07mn equities valued at QR0.2mn changed hands across 16 transactions.