QATAR's Exchange snapped the five-day bull run on foreign …

Doha / QATAR: The Qatar Exchange yesterday snapped the five-day bull run on foreign institutions’ sustained profit-booking, but gainers outnumbered losers.

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The market liquidity has dried up mainly due to substantial fall in volumes

Selling was acerbic especially in transport and banking sectors, leading the 20-stock Qatar Index (based on price data) to knock off 0.30%, but to stay above the 10,000 mark for the fifth day. The market liquidity dried up mainly due to substantial fall in volumes of transport, banking, industrials and telecom stocks.

Major losers included QNB, Doha Bank, al khaliji, Gulf International Services, Mazaya Qatar and Nakilat; even as Qatar Islamic Bank, Commercial Bank, International Islamic, Qatar National Cement, Industries Qatar, Ezdan, Milaha and Doha Insurance bucked the trend.

The 20-stock Total Return Index also fell 0.30% to 14,400.28 points, the All Share Index (with wider constituents) by 0.20% to 2,534.75 points and the Al Rayan Islamic Index by 0.27% to 2,894.77 points. All the three indices factored in dividend income as well.

Transport stocks lost 1.10%, followed by banks and financial services (0.48%), telecom (0.06%) and realty (0.01%); while insurance gained 0.54%, consumer goods 0.37% and industrials rose 0.15%.

Market capitalisation was up 0.01% to QR550.55bn. Micro cap stocks were seen appreciating; while mid and large caps closed in the red. Of the 42 stocks, 24 advanced, while only 16 declined and one was unchanged. Another one was not traded.

Foreign institutions continued to be bearish as they were net sellers to the tune of 13.12%, or QR24.32mn. Domestic institutions turned profit-takers as they were net sellers to the extent of 0.39%, or QR0.72mn. Qatari individual investors continued to be bullish as their buying was to the tune of 14.64%, or QR27.14mn.

Non-Qatari individuals turned bearish as they were net sellers to the extent of 1.13%, or QR2.09mn. Total trading volume shrank 58% to 4.23mn stocks; value by 58% to QR185.35mn and transactions by 51% to 2,512. The transport sector had seen its trading volume plummet 77% to 0.33mn stocks, value by 66% to QR18.98mn and deals by 69% to 202.

The banking sector’s trading volume plunged 75% to 1.02mn, value by 73% to QR52.33mn and transactions by 62% to 719. There was a 67% decline in industrials trading volume to 0.42mn shares, 54% in value to QR35.30mn and 63% in deals to 411. The telecom sector saw its trading volume shrink 51% 0.25mn shares, value by 34% to QR8.35mn and transactions by 27% to 119.

The consumer goods sector witnessed a 42% slump in trading volume to 0.42mn shares, 54% in value to QR20.54mn and 35% in deals to 339. The market witnessed a 36% fall in real estate trading volume to 1.15mn equities, 50% in value to QR20.01mn and 15% in transactions to 473.

However, the insurance sector saw its trading volume more than double to 0.72mn shares, while value and deals rose 65% and 6% to QR29.83mn and 249 respectively.

Sources: Gulf Times, The Peninsula, Caye Global News

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