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Key sectors see higher than average selling pressure on QSE

Santhosh V. Perumal

Friday، 20 November 2020 10:54 PM

The Qatar Stock Exchange witnessed more than 74% of the traded constituents end in the red this week, which saw markets already discount the positive news relating to the Covid-19 vaccine.
The real estate, banking, industrials and telecom counters saw higher than average selling pressure this week which saw QNB Group register "substantial" oversubscription to its global dual tranche $3.5bn unsecured term loan facility.
Foreign funds’ substantially weakened net buying was instrumental in dragging the 20-stock Qatar Index 1.03% this week which saw Nakilat complete the second phase of its fleet management transition from Shell, with a total of seven liquefied natural gas carriers transitioned to its in-house technical and operational management.
The Gulf individuals were seen net profit takers this week which saw Doha's commercial banks post strong double-digit year-on-year growth, especially in the current and call deposits of the domestic private and public sectors in September this year.
The Islamic equities were seen declining slower than the main barometer this week which saw Qatar’s overall industrial production on the decline this September.
The domestic funds were seen bullish and there was substantially lower net selling from local retail investors this week which saw a total of 111,170 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR258,231 change hands across seven transactions.
Trading value and volume were on the decline this week which saw as many as 117,514 Doha Bank-sponsored QETF valued at QR1.18mn trade across 17 deals.
Medium-term and long-term investors can stay in the market with a stop-loss below 9,585 points and 9,750 points, respectively, according to Kamco's technical analysis.
Market capitalisation eroded more than QR15bn or 2.59% to QR579.11bn, mainly on large and midcap segments this week which saw the Gulf funds turn net profit takers.
The Total Return Index shed 1.03%, the All Share Index by 1.63% and Al Rayan Islamic Index by 1.51% this week which saw the Arab individuals continued to be net sellers but with lesser vigour.
The real estate index plummeted 4.66%, banks and financial services (2.41%), industrials (2.17%), telecom (1.56%) and consumer goods and services (0.88%); while insurance and transport gained 5.66% and 4.92% respectively this week which saw industrials, banking and realty sectors together account for more than 68% of total trading volume.
Major losers included Ezdan, Alijarah Holding, Qatari German Medical Devices, QNB, Qatar First Bank, Baladna, Industries Qatar, Aamal Company, Qatar Electricity and Water, Qatari Investors Group, Mesaieed Petrochemical Holding, Qamco, Barwa and Mazaya Qatar; even as Qatar Insurance, Nakilat, Qatar National Cement, Milaha, Doha Bank, Qatar Islamic Bank, Mannai Corporation and Gulf Warehousing were among the gainers this week.
The real estate sector accounted for 31% of the total trading volume, banks and financial services (21%), industrials (16%), transport (14%), consumer goods and services (10%), insurance (5%) and telecom (2%) this week.
In value, the banks and financial sector’s share was 35%, realty and transport (19% each), industrials and consumer goods and services (9% each), insurance (5%) and telecom (3%) this week.
Foreign institutions’ net buying fell significantly to QR58.4mn compared to QR353.68mn the week ended November 12.
The Gulf individuals turned net sellers to the tune of QR14.54mn against net buyers of QR9.59mn the previous week.
The Gulf funds were net also net sellers to the extent of QR3.69mn compared with net buyers of QR14.87mn a week ago.
The Arab institutions’ net buying weakened notably to QR0.02mn against QR2.78mn the week ended November 12.
However, domestic funds’ net buying grew extensively to QR45.24mn compared to QR14.87mn the previous week.
Local retail investors’ net selling shrank substantially to QR76.4mn against QR367.89mn a week ago.
Foreign individuals’ net selling eased noticeably to QR5.31mn compared to QR18.51mn the week ended November 12.
The Arab individuals’ net profit booking fell markedly to QR2.54mn against QR9.59mn the previous week.
Total trading volume fell 47% to 982.14mn shares, value by 30% to QR2.31bn and transactions by 22% to 50,122.
The industrials sector saw 71% plunge in trade volume to 160.65mn equities, 62% in value to QR212.5mn and 47% in deals to 7,430.
The consumer goods sector’s trade volume plummeted 60% to 102.05mn stocks, value by 48% to QR216.4mn and transactions by 45% to 4,632.
There was 40% shrinkage in the real estate sector’s trade volume to 301.04mn shares, 40% in value to QR446.85mn and 27% in deals to 8,964.
The telecom sector’s trade volume tanked 40% to 22.08mn equities, 14% in value to QR70.87mn and 11% in transactions to 2,336.
The banks and financial services sector saw 38% contraction in trade volume to 211.01mn stocks, 24% in value to QR801.96mn and deals by 13% to 16,730.
However, the insurance sector’s trade volume soared 32% to 52.54mn shares, value by 67% to QR124.04mn and transactions by 25% to 1,726.
The market witnessed 9% jump in the transport sector’s trade volume to 132.77mn equities, 18% in value to QR435.52mn and 38% in deals to 8,304.

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