Home Commercial trading The QSE falls below the 13,600 level amid a course correction

The QSE falls below the 13,600 level amid a course correction

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The Qatar Stock Exchange fell below 13,600 levels on Wednesday despite strong buying interest in consumer goods, telecommunications and transport meters.
Industrials and real estate counters witnessed above-average selling pressure, with Qatar’s 20-stock index losing 82 points or 0.6% to 13,557 points, although it reached an intraday high of 13,648 points.
Local retail investors were increasingly net sellers in the market, with year-to-date gains of 16.61%.
The Islamic Index fell faster than other indexes in the exchange, whose capitalization fell by around QR 8 billion or 1% to QR 762.9 billion, mainly driven by the mid-cap segments.
Net purchases by foreign and Gulf institutions weakened significantly in the market, where the consumer goods, industrials and banking sectors together accounted for more than 80% of trading volume.
National institutions continued to be net sellers, but with less intensity in the market, which saw a total of 50,412 exchange-traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at 682,318 QR changed of hands across 17 trades.
Arab individuals also continued to be net profit takers, but with less vigor in the stock market, which saw no sovereign bond trading.
Total trading turnover and volumes were down in the market, which saw no trading in Treasuries.
The Total Return Index fell 0.6% to 27,660.68 points, the All Share Index fell 0.37% to 4,340.83 points and the Al Rayan Islamic Index (Price) fell 0.74% to 2 924.95 points.
The index of industrial sectors lost 1.54%, real estate (0.95%) and banks and financial services (0.23%); while consumer goods and services gained 1.51%, telecoms (0.66%), transport (0.62%) and insurance (0.08%).
More than 57% of constituents traded on the main market were in the red, including Qamco, Qatar General Insurance and Reinsurance, Mesaieed Petrochemical Holding, Gulf International Services, Qatar Industries, Masraf Al Rayan, Baladna, Qatar Insurance, Barwa and Vodafone Qatar. .
Nevertheless, Al Khaleej Takaful, Zad Holding, Inma Holding, Commercial Bank, Qatar Cinema and Film Distribution, Milaha, Salam International Investment, Qatar Islamic Insurance and Ooredoo were among the winners in the main market, while Al Faleh Educational Holding and Mekdam Holding have seen their shares rise in value in the venture capital market.
Qatari Individual Net Profit bookings increased significantly to QR 61.89 million from QR 13.45 million on March 29.
Net purchases of foreign funds decreased significantly to QR 97.97 million from QR 115.35 million the previous day.
Net purchases by Gulf institutions weakened significantly to QR 6.23 million from QR 20.56 million on Tuesday.
Net purchases by foreign individuals decreased significantly to QR 3.56 million from QR 6.67 million on March 29.
However, individuals in the Gulf were net buyers at QR 0.56 million compared to net sellers of QR 0.64 million the previous day.
The net sale of domestic funds decreased significantly to QR 41.69 million from QR 119.28 million on Tuesday.
The Arab Individual Net Profit booking weakened markedly to QR 4.74 million from QR 9.01 million on March 29.
Arab institutions had no major net exposure compared to net sellers of QR 0.2 million the previous day.
Total trading volume on the main market fell 19% to 204.7 million shares, value fell 18% to QR 661.97 million, and trades fell 12% to 16,104.
The market saw a 42% drop in industrial sector trading volume to 39.81 million shares, 32% in value to 130.45 million QR and 32% in trades to 3,215.
The trading volume of the banking and financial services sector fell by 34% to 39.37 million shares, the value by 17% to 296.99 million QR and transactions by 10% to 7,480.
There was an 8% contraction in trading volume of the consumer goods and services sector to 84.78 million shares, 33% in value to 125.59 million QR and 1% in trades to 2,180.
However, the insurance industry’s trading volume more than doubled to 6.11 million shares and the value nearly tripled to QR 19.98 million on an 83% increase in trades to 583.
Telecom sector trading volume more than doubled to 5.44 million shares and value jumped 73% to QR 16.43 million; while transactions fell 19% to 700.
The real estate sector reported a 12% increase in trading volume to 23.68 million shares, 16% in value to 34.37 million QR and 14% in transactions to 1,218.
The transport sector’s trading volume increased by 4% to 5.51 million shares and the value by 74% to 38.16n QR; while transactions were flat at 728.
The venture capital market saw trading volumes more than quadruple to 0.68 million shares and value also more than quadruple to QR 5.24 million on a more than six-fold increase in deals to 357.