Stocks drag QE to negative terrain

The Qatar Exchange was back in negative terrain yesterday, mainly dragged by industrials and banking stocks. Foreign institutions were seen instrumental in driving the QE Index (based on price data) down 0.42% to 8,280.58 points. The market is down 5.68% year-to-date. The All Share Index (comprising wider constituents) and the Total Return Index also shank 0.34% and 0.42% to 1,999.49 and 11,206.61 points respectively. Both the indices factored in dividend income as well. About 62% of the stocks were in the red with major losers being Commercialbank, Industries Qatar, Qatari Investors Group, Barwa, Mazaya Qatar, Vodafone Qatar and Qatari German Company for Medical Devices (QGMD); even as Gulf Warehousing (GWC) and National Leasing bucked the trend. Under the All Share Index category, the industrials index declined 0.92%, followed by banks and financial services (0.35%), telecom (0.35%), consumer goods (0.25%) and realty (0.21%); while the indices of insurance and transport gained 0.81% and 0.73% respectively. Market capitalisation eroded 0.40% or about QR2bn to QR445.72bn with mid and large cap equities notably melting 0.61% and 0.45% respectively; while micro caps shot up 1.36%. Of the 42 stocks, only 12 gained, while 26 declined and two were unchanged. Two others were not traded. Foreign institutions were increasingly bearish as their net selling zoomed to 13.23% from 1.07% the previous day. A marginally lower 6.88% of them were into buying against 7.28% on Monday whereas a higher 20.11% of them into selling compared to 8.35%. However, domestic institutions turned bullish as they were net buyers to the tune of 8.94% compared with net sellers of 1.84% the previous day. A higher 21.47% of them bought equities compared to 18.75% on Monday, while a lower 12.53% offloaded against 20.59%. Qatari individual investors continued to be bullish but with lesser vigour as their net buying sunk to 2.29% from 4.90% the previous day. A lower 48.13% of them purchased equities compared to 55.52% on Monday and a lower 45.84% sold against 50.62%. Non-Qatari retail investors turned bullish that they were net buyers to the extent of 1.99% compared with net sellers of 1.98% the previous day. A higher 23.52% of them were into buying against 18.45% on Monday, although a marginally higher 21.53% were into offloading against 20.43%. Total trading volume fell 28% to 8.64mn equities, value by 16% to QR250.53mn and deals by 5% to 4,302. The industrials sector’s trading volume plummeted 55% to 1.34mn shares, value by 57% to QR51.44mn and transactions by 38% to 638. The real estate sector’s trading volume plunged 54% to 1.24mn shares, value by 47% to QR22.78mn and deals by 39% to 456. The banks and financial services sector’s trading volume tanked 53% to 1.92mn shares, value by 28% to QR57.86mn and transactions by 31% to 1,033. The telecom sector’s trading volume was down 6% to 0.65mn shares whereas value rose 88% to QR12.11mn and deals by 20% to 261. However, the consumer goods and services sector’s trading volume more than doubled to 1.78mn shares, value surged 88% to QR44.29mn and transactions by 74% to 931. The insurance sector’s trading volume more than doubled to 0.19mn shares and value also more than doubled to QR7.78mn on more than tripled deals to 137. The transport sector’s trading volume shot up 72% to 1.53mn shares and value more than doubled to QR54.26mn on an 83% jump in transactions to 846. Actively traded stocks (in terms of volume) were Qatari Investors Group (1.13mn shares); QGMD (1.09mn); Qatar Oman Investment Company (1.06mn); GWC (1.03mn) and Mazaya Qatar (707,735). In the debt market, there was no trading. from gulf times.