QSE Index Settles 20 Points Lower On Selling Pressure


(MENAFN- Gulf Times) The Qatar Stock Exchange (QSE) Tuesday declined 20 points on the back of selling pressure, especially in transport, telecom, industrials and insurance counters.



The local retail investors were seen net profit takers as the 20-stock Qatar Index was down 0.2% to 10,007.21 points.
The Gulf institutions turned bearish in the main market, whose year-to-date losses widened further to 6.31%.
More than 55% of the traded constituents were in the red in the main bourse, whose capitalisation was down QR0 or 0.05% to QR585 with microcap segments losing the most.
The domestic institutions' weakened net buying had its influence in the main market, which however regained from an intraday low of 9,953 points.
The foreign institutions were net seen net buyers in the main bourse, which saw as many as 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0 trade across 12 deals.
The Arab retail investors were increasingly net buyers in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen declining faster than the other indices in the main bourse, which witnessed no trading of treasury bills.
The Total Return Index shed 0.2%, the All Islamic Index by 0.39% and the All Share Index by 0.08% in the main bourse, whose trade turnover and volumes were on the increase.
The transport sector index tanked 1.52%, telecom (1.28%), industrials (0.59%), insurance (0.34%), real estate (0.12%) and consumer goods and services (0.07%); while banks and financial services gained 0.45%.
Major losers in the main market included Doha bank, Doha Insurance, Milaha, Mannai Corporation, Ooredoo, Lesha Bank, Industries Qatar, Estithmar Holding, United Development Company and Nakilat. In the venture market, Mahhar saw its shares depreciate in value.
Nevertheless, Qatar Islamic Insurance, Meeza, Gulf Warehousing, Beema, Ezdan and Vodafone Qatar were among the movers in the main market. In the junior bourse, Al Faleh Educational Holding saw its shares appreciate in value.
The local retail investors turned net sellers to the tune of QR17 compared with net buyers of QR3 on November 27.
The Gulf institutions were net sellers to the extent of QR2 against net buyers of QR2 the previous day.
The domestic institutions' net selling weakened considerably to QR1 compared to QR25 on Monday.
However, the foreign institutions turned net buyers to the tune of QR8 against net sellers of QR15 on November 27.
The Arab individuals were net buyers to the extent of QR5 compared with net sellers of QR2 the previous day.
The foreign retail investors turn dent buyers to the tune of QR4 against net profit takers of QR1 on Monday.
The Gulf retail investors' net selling weakened noticeably to QR0 compared to QR12 on November 27.
The Arab institutions had no major net exposure for the second straight session.
Trade volumes in the main market grew 4% to 131 shares, value by 15% to QR413 and deals by 25% to 15,680.
The venture market saw a 75% plunge in trade volumes to 1.56mn equities, 65% in value to QR1 and 6% in transactions to 158.

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