Media Centre

Qatar: Global factors drive QSE down 147 points

The foreign institutions were increasingly net profit takers as the 20-stock Qatar Index tanked 1.38% to 10,458.21 points, although the index touched an intraday high of 10,578 points

Reflecting the apprehensions in the global oil market and ahead of the key US economic data, the Qatar Stock Exchange (QSE) on Tuesday saw its key index plummet 147 points and market capitalisation erode QR8bn.

The foreign institutions were increasingly net profit takers as the 20-stock Qatar Index tanked 1.38% to 10,458.21 points, although the index touched an intraday high of 10,578 points.

The industrials and banking counters witnessed higher than average selling pressure in the main market, whose year-to-date losses widened further to 3.44%.

The Gulf funds turned net sellers in the main bourse, whose capitalisation melted 1.27% to QR620.22bn primarily on the back of large cap segments.

However, the domestic institutions were seen increasingly bullish in the main market, which saw no trading of exchange traded funds.

The Islamic index was seen declining slower than the other indices of the main bourse, whose trade turnover and volumes were on the increase.

The local individual investors were increasingly net buyers in the main market, which saw no trading of treasury bills.

The Arab retail investors were also increasingly net buyers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index shed 1.38%, the All Islamic Index by 1.01% and the All Share Index by 1.34% in the main market.

The industrials sector index tanked 2.07%, banks and financial services (1.46%), consumer goods and services (0.9%), transport (0.63%), insurance (0.41%) and telecom (0.4%); while real estate was up 0.05%.

As much as 62% of the traded constituents were in the red with major losers being Industries Qatar, QNB, Qatar Electricity and Water, Gulf International Services, Dlala, Qatar Islamic Bank, Dukhan Bank, Woqod and Qatar National Cement. In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value.

Nevertheless, Aamal Company, Doha Bank, Ezdan, Lesha Bank and Estithmar Holding were among the gainers in the main bourse.

The foreign institutions’ net selling increased noticeably to QR60.26mn compared to QR58.37mn on November 11.

The Gulf institutions were net sellers to the tune of QR40.08mn against net buyers of QR15.34mn on Monday.

The Gulf individual investors’ net buying weakened perceptibly to QR0.93mn compared to QR1.54mn the previous day.

However, the domestic institutions’ net buying expanded significantly to QR56.65mn against QR38.27mn on November 11.

The Qatari retail investors’ net buying strengthened considerably to QR28.13mn compared to QR1.65mn on Monday.

The Arab individual investors’ net buying increased markedly to QR9.33mn against QR2.32mn the previous day.

The foreign retail investors were net buyers to the extent of QR5.31mn compared with net sellers of QR0.76mn on November 11.

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

Trade volumes in the main market soared 23% to 158.49mn shares, value by 17% to QR461.6mn and transactions by 8% to 16,532.

The venture market saw 74% contraction in trade volumes to 0.22mn equities, 75% in value to QR0.53mn and 46% in deals to 32.