QSE Plunges 199 Points M-Cap Erodes Qr12bn On Global Fear...| MENAFN.COM

Saturday, 01 October 2022 01:15 GMT

QSE Plunges 199 Points M-Cap Erodes Qr12bn On Global Fears


(MENAFN- Gulf Times)

Global factors such as 40-year high inflation in the US and lockdown in China continued to bludgeon bourses across the world, including the Qatar Stock Exchange, which on Monday plummeted 199 points on an across-the-board sell off, particularly in the industrials and banking sectors.
The domestic institutions were increasingly net sellers as the 20-stock Qatar Index tanked 1.54% to 12,718.21 points, although it touched an intraday high of 12,914 points.
About 87% of the traded constituents were in the red in the market, whose year-to-date gains were pared to 9.4%.
The foreign funds turned bearish in the bourse, whose capitalisation saw about QR12bn or a 1.6% erosion to QR712.99bn, mainly on the back of mid and small cap segments.
The Islamic index was seen declining slower than the other indices in the market, where the industrials and banking sectors together constituted about 65% of the total trading volume.
The Arab individuals were seen net sellers in the bourse, which saw a total of 192,170 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.83mn changed hands across 19 deals.
Nevertheless, local retail investors turned bullish in the market, which saw no trading of sovereign bonds.
Total trade turnover and volumes were on the increase in the bourse, which saw no trading of treasury bills.
The Total Return Index shed 1.54% to 26,051.02 points, the All Share Index by 1.52% to 4,055.65 points and the Al Rayan Islamic Index (Price) by 1.36% to 2,786.63 points.
The industrials sector index tanked 1.93%, banks and financial services (1.63%), transport (1.21%), real estate (1.13%), telecom (0.89%), consumer goods and services (0.69%) and insurance (0.23%).
Major shakers in the main market included Doha Insurance, QIIB, Qatar Industrial Manufacturing, Gulf Warehousing, Mesaieed Petrochemical Holding, QNB, Commercial Bank, Qatari German Medical Devices, Industries Qatar, Qamco, Gulf International Services, QLM, Ezdan and Nakilat.
Nevertheless, Dlala, Qatar Islamic Insurance, Aamal Company, Qatar National Cement and Qatar General Insurance and Reinsurance were among the gainers in the main market.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value.
The domestic institutions' net selling expanded substantially to QR71.76mn compared to QR25.83mn on June 12.
The foreign funds turned net sellers to the tune of QR13.78mn against net buyers of QR19.24mn the previous day.
The Arab individuals were net sellers to the extent of QR9.01mn compared with net buyers of QR11.13mn on Sunday.
However, Qatari individuals' net buying increased significantly to QR67.62mn against QR4.04mn on June 12.
The Gulf funds turned net buyers to the tune of QR19.84mn compared with net sellers of QR10.52mn the previous day.
The foreign individuals' net buying strengthened noticeably to QR6.33mn against QR2.49mn on Sunday.
The Gulf individuals were net buyers to the extent of QR0.77mn compared with net profit takers of QR0.55mn on June 12.
The Arab institutions continue to have no major net exposure for the second straight session.
Total trade volume in the main market rose 4% to 152.49mn shares and value by 42% to QR673mn on almost doubled transactions to 22,145.
The real estate sector's trade volume more than doubled to 20.51mn equities and value also more than doubled to QR30.74mn on more than tripled deals to 1,321.
The banks and financial services sector reported 61% surge in trade volume to 40.53mn stocks and 85% in value to QR316.61mn on more than doubled transactions to 11,781.
The transport sector's trade volume soared 21% to 4.55mn shares, value by 6% to QR22.86mn and deals by 40% to 881.
The market witnessed 20% expansion in the telecom sector's trade volume to 4.83mn equities and 88% in value to QR18.8mn on more than doubled transactions to 849.
The consumer goods and services sector's trade volume was up 9% to 22.11mn stocks and value by 69% to QR75.32mn on more than doubled deals to 2,025.
However, the insurance sector saw 55% plunge in trade volume to 0.96mn shares and 55% in value to QR3mn but on 33% growth in transactions to 152.
The industrials sector's trade volume plummeted 28% to 58.01mn equities and value by 4% to QR205.67mn, whereas deals shot up 32% to 5,136.
In the venture market, trade volumes were seen declining 85.29% to 0.05mn stocks, value by 83.26% to QR0.39mn and transactions by 70.59% to 45.

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