QSE witnesses course correction; index loses 86 points, M-cap erodes QR5bn
June 01 2022 08:59 PM
QSE

The Qatar Stock Exchange on Wednesday lost 86 points and its key index retreated below 13,000 levels, mainly dragged by transport, telecom and banking sectors.
The foreign and Gulf institutions’ net buying weakened substantially as the 20-stock Qatar Index settled 0.67% lower at 12,833.15 points, although it touched an intraday high of 12,935 points.
The bourse reflected the sentiments in the global markets, which drifted southwards owing to inflation fears.
About 56% of the traded constituents were in the red in the market, whose year-to-date gains were at 10.38%.
The Islamic index were seen declining slower than the other indices in the market, whose capitalisation eroded about QR5bn or 0.65% to QR728.11bn, mainly on the back of midcap segments.
The domestic funds’ net selling pressure was seen weakening markedly in the market, where the industrials, consumer goods and banking sectors together accounted for about 79% of the trading volume.
The local retail investors’ net selling also declined in the market, which saw a total of 37,001 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.35mn changed hands across 14 deals.
The Arab individuals were seen net buyers in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the decline in the bourse, which saw no trading of treasury bills.
The Total Return Index shed 0.67% to 26,286.46points, All Share Index by 0.64% to 4,128.49 points and Al Rayan Islamic Index (Price) by 0.63% to 2,754.81 points.
The telecom sector index tanked 1.68%, transport (1.24%), banks and financial services (0.92%), real estate (0.73%), industrials (0.31%) and insurance (0.09%); while consumer goods and services shot up 1.17%.
Major losers in the main market included Qatar Islamic Bank, Baladna, Barwa, Ooredoo, Gulf Warehousing, Industries Qatar, Gulf International Services, Vodafone Qatar and Nakilat. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value.
Nevertheless, Qatari German Medical Devices, Mannai Corporation, Doha Insurance, Qatar Electricity and Water, Woqod, Commercial Bank, Dlala and Qatar General and Reinsurance were among the gainers in the main market.
The Gulf institutions’ net buying declined substantially to QR58mn compared to QR153.28mn on May 31.
The foreign institutions’ net buying shrank markedly to QR42.33mn against QR69.3mn the previous day.
The Gulf individuals’ net buying weakened perceptibly to QR0.11mn compared to QR1.43mn on Tuesday.
However, the foreign individuals’ net buying grew noticeably to QR2.31mn against QR1.63mn on May 31.
The Arab individuals’ net buying strengthened marginally to QR1.44mn compared to QR1.43mn the previous day.
The Arab institutions were net seen net buyers to the tune of QR0.53mn against no major net exposure on Tuesday.
The domestic funds’ net selling shrank significantly to QR68.75mn compared to QR145.67mn on May 31.
Qatari individuals’ net profit booking fell drastically to QR35.97mn against QR79.05mn the previous day.
Total trade volume in the main market fell 72% to 135.56mn shares, value by 82% to QR612.9mn and transactions by 52% to 21,235.
The banks and financial services sector’s trade volume plummeted 86% to 37.86mn equities, value by 87% to QR326.3mn and deals by 64% to 11,036.
The transport sector reported 78% plunge in trade volume to 6.61mn stocks, 75% in value to QR29.61mn and 26% in transactions to 1,600.
The industrials sector’s trade volume tanked 65% to 31.27mn shares, value by 72% to QR115.04mn and deals by 43% to 3,293.
There was 64% shrinkage in the telecom sector’s trade volume to 6.04mn equities, 81% in value to QR18.64mn and 37% in transactions to 1,319.
The consumer goods and services sector’s trade volume shrank 42% to 37.54mn stocks and value by 54% to QR97.53mn, whereas deals grew 21% to 2,688.
The market witnessed 25% contraction in the real estate sector’s trade volume to 13.19mn shares and 54% in value to QR17.89mn but on 3% jump in transactions to 775.
The insurance sector’s trade volume was down 17% to 3.04mn equities and value by 21% to QR7.89mn, whereas deals more than doubled to 524.
In the venture market, trade volumes were seen shrinking 44.43% to 0.88mn stocks, value by 19.07% to QR6.28mn and transactions by 28.43% to 350.



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