QSE Sees Strong Selling on Global Signals; index finger plunges

The Qatar Stock Exchange continued to record big profits, leading to a drop of more than 442 points in the key barometer and a market capitalization of QR 25 billion, following last week’s global sell-off and the fall in the oil on Friday.
Widespread selling, particularly in industries, sent Qatar’s 20-stock index tumbling 3.52% to 12,119.85 points, despite hitting an intraday high of 12,486 points.
National institutions were seen as net profit takers in the market, with year-to-date gains of 4.25%.
Gulf institutions were increasingly net sellers on the exchange, whose capitalization saw a decline of around QR 25 billion or 3.53% to QR 680.85 billion, mainly driven by the large segments. and mid caps.
The Islamic index fell more slowly than the main market barometer, where the industrial sector alone accounted for around 54% of total trading volume.
More than 93% of constituents traded were in the red on the exchange, which saw a total of 0.2 million exchange-traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at 0.52 million QR change from hands on 30 trades.
Nonetheless, local retail investors turned bullish in the market, which saw no sovereign bond trading.
Turnover and total trading volumes were down on the exchange, which saw no trading in Treasuries.
The Total Return Index fell 3.52% to 24,825.4 points, the All Share Index fell 3.28% to 3,887.52 points and the Al Rayan Islamic Index (price) fell 3.35. % at 2,661.32 points.
The industrial sectors index fell 5%, real estate (3.05%), banking and financial services (2.93%), transport (2.82%), consumer goods and services (2.45%) , telecoms (1.93%) and insurance (1.38%).
The main losers in the main market were Qatari German Medical Devices, Gulf International Services, Qamco, Ezdan, Salam International Investment, QNB, Qatar Islamic Bank, QIIB, Masraf Al Rayan, Baladna, Qatar Industries, Mesaieed Petrochemical Holding, Estithmar, QLM, Gulf Storage and Nakilat. In the venture capital market, Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate.
Nevertheless, Qatar Islamic Insurance and Ahlibank Qatar were the winners in the main market.
Domestic funds became net sellers at QR 95.26 million from net buyers of QR 9.61 million on June 16.
Gulf funds net sales increased noticeably to QR 27.17 million from QR 20.72 million on the previous trading day.
Net purchases by Gulf individuals declined slightly to QR 1.53 million from QR 1.61 million last Thursday.
However, Qatari individuals became net buyers at QR 57.25 million against net sellers of QR 17.05 million on June 16.
Net purchases by foreign funds jumped significantly to QR 56.47 million from QR 37.88 million on the previous trading day.
Net purchases by Arab individuals strengthened slightly to QR 5.91 million from QR 5.49 million last Thursday.
Foreign individuals were net buyers at QR 0.78 million against net sellers of QR 17.15 million on June 16.
Net purchases by Arab institutions increased slightly to QR 0.5 million from QR 0.33 million on the previous trading day.
Total trading volume on the main market fell 38% to 234.16 million shares, value fell 72% to QR 688.42 million, and trades fell 51% to 13,045.
The trading volume of the banking and financial services sector fell by 84% to 35.39 million shares, the value by 87% to 252.1 million QR and transactions by 75% to 4,326.
The transportation sector reported a 74% drop in trading volume to 3.69 million shares, 69% in value to 19.17 million QR and 63% in trades to 410.
The telecom sector’s trading volume fell 43% to 3.9 million shares, value fell 74% to 8.5 million QR and trades fell 61% to 509.
There was a contraction of 23% in insurance sector trading volume to 3.11 million shares, 1% in value to 10 million QR and 62% in trades to 201.
The real estate sector’s trading volume fell 3% to 34.44 million shares and the value fell 40% to QR 41.9 million, while transactions jumped 27% to 1,004.
However, the market saw a 63% increase in industrial sector trading volume to 125.77 million shares, 18% in value to 309.14 million QR and 24% in trades to 5,488.
Trading volume in the consumer goods and services sector soared 34% to 27.86 million shares; while the value decreased by 56% to 47.61 million QR and transactions by 20% to 1,107.
The venture capital market saw a contraction of 60.38% in trading volumes to 0.21 million shares, 64.03% in value to 1.41 million QR and 74.07% in transactions at 56.

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