Qatar shares close flat as trade turnover, volumes plunge
November 20 2016 07:22 PM

The Qatar Stock Exchange witnessed substantial decline in trade turnover and volumes, but its key index closed largely flat, despite buying interests in realty, banking and consumer goods sectors.

Foreign institutions and individuals turned marginally bullish as the 20-stock Qatar Index rose by mere 0.06% to 9,780.8 points.

The market’s year-to-date losses are seen at 6.22%.

Large and small-cap equities witnessed some buying interests in the market, whose marginal gains were supported by the weakened selling pressure from local retail investors and Gulf institutions.

Real estate, telecom and banking stocks together constituted about 90% of the total volumes in the bourse, where domestic institutions’ net buying weakened considerably.

A 0.47% and 0.1% increase in large and small caps enlarged the market capitalisation by QR73mn, or 0.14%, to QR529.06bn. However, mid and microcaps fell 0.38% and 0.07% respectively.

The Total Return Index was up 0.06% to 15,824.69 points, the All Share Index by 0.14% to 2,703.4 points and the Al Rayan Islamic Index by 0.07% to 3,617.78 points.

The realty sector saw its index gain 0.32%, followed by banks and financial services (0.31%), consumer goods (0.27%), telecom (0.08%) and industrials (0.05%), while transport and insurance shrank 0.52% and 0.37% respectively.

Among the major movers were Al Khaliji, QNB, Aamal Company, Ezdan and Ooredoo, while Nakilat, Qatar Insurance, Doha Bank, QIIB, Widam Food, Qatar National Cement, Gulf International Services, Vodafone Qatar and United Development Company were among the losers.

Non-Qatari institutions turned net buyers to the tune of QR0.76mn compared with net sellers of QR15.67mn on November 17.

Non-Qatari individual investors were also net buyers to the extent of QR1.56mn compared with net sellers of QR0.97mn last Thursday.

Local retail investors’ net profit-booking weakened perceptibly to QR6.11mn against QR31.04mn the previous trading day.

GCC (Gulf Cooperation Council) institutions’ net selling declined to QR0.32mn compared to QR5.91mn on November 17.

However, domestic institutions’ net buying slackened considerably to QR3.59mn against QR49.25mn last Thursday.

GCC individual investors’ net buying fell to QR0.51mn compared to QR4.37mn the previous trading day.

Total trade volume fell 52% to 2.89mn shares, value by 67% to QR81.24mn and deals by 48% to 1,600.

The market witnessed a 92% plunge in the insurance sector’s trade volume to 0.01mn equities, 84% in value to QR0.96mn and 60% in transactions to 38.

The industrials sector’s trade volume plummeted 86% to 0.13mn stocks, value by 88% to QR7.52mn and deals by 62% to 241.

There was an 86% shrinkage in the transport sector’s trade volume to 0.04mn shares, 86% in value to QR1.41mn and 72% in transactions to 63.

The consumer goods sector’s trade volume tanked 79% to 0.1mn equities, value by 84% to QR11.44mn and deals by 43% to 179.

The banks and financial services sector saw a 63% decline in trade volume to 0.63mn stocks, 45% in value to QR31.36mn and 48% in transactions to 511.

The telecom sector’s trade volume shrank 35% to 0.98mn shares, value by 57% to QR9.91mn and deals by 49% to 236.

The real estate sector’s trade volume was down 2% to 0.99mn equities but value expanded 11% to QR18.63mn. Transactions fell 9% to 332.

In the debt market, there was no trading of treasury bills and government bonds.

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