Transport and telecom weigh on QSE; index drops by 59 points, M-cap rather flat


The transportation and telecommunications sectors posted strong profits, dragging down the Qatar Stock Exchange (QSE) by 59 points, even as capitalization was stable.
Domestic funds were seen as bearish as Qatar’s 20-stock index fell 0.43% to 13,626.99 points, despite hitting an intraday high of 13,743 points.
Arab institutions were seen as net profit takers in the market, with year-to-date gains of 17.21%.
Significantly weakened net purchases by foreign institutions also had their influence on the exchange, whose capitalization remained largely stable at QR 759.49 billion, despite gains in the mid-cap segments.
The Islamic index fell faster than other indices in the market, which saw a total of 3,371 exchange-traded funds (sponsored by Doha Bank) valued at QR 0.04 million change hands over five trades .
Trading volume and turnover were up on the exchange, which saw Gulf institutions continue to be net sellers but with less strength.
However, local retail investors turned sharply bullish in the market, which saw no sovereign bond trading.
Likewise, Arab and foreign retail investors were net buyers on the exchange, which saw no trading of Treasury bills.
The Total Return Index fell 0.43% to 27,912.51 points, the All Share Index fell 0.16% to 4,319.07 points and the Al Rayan Islamic Index (price) fell 0.54 % at 2,978.8 points.
The transport sector lost 0.86%, telecoms (0.67%), industrials (0.22%) and banks and financial services (0.14%); while real estate gained 0.8%, insurance (0.26%) and consumer goods (0.08%).
The main losers in the main market were Milaha, Gulf Warehousing, Inma Holding, Masraf Al Rayan, Qatar First Bank, Commercial Bank, Mesaieed Petrochemical Holding and Industries Qatar.
Nevertheless, Qatari German Medical Devices, QLM, Estithmar Holding, United Development Company, Mannai Corporation, QNB, Ahlibank Qatar, Aamal Company, Qatar National Cement and Nakilat were among the main market winners. In the venture capital market, Al Faleh Educational Holding and Mekdam Holding saw their shares rise in value.
National institutions became net sellers of QR 14.26 million against net buyers of QR 5.7 million on August 28.
Arab institutions were net sellers of QR 0.7m versus no major net exposure the previous day.
Net purchases by foreign institutions fell significantly to QR 1.45 million from QR 36.07 million on Sunday.
However, Qatari individuals became net buyers at QR 16.53 million against net sellers of QR 9.81 million on August 28.
Arab individuals were net buyers at QR 2 million compared to net sellers of QR 6.67 million the previous day.
Foreign individuals became net buyers of QR 1.87 million against net sellers of QR 0.55 million on Sunday.
Retail investors in the Gulf were net buyers of QR 0.94 million against net sellers of QR 3.24 million on August 28.
Net profit bookings of Gulf institutions declined significantly to QR 7.81 million from QR 22.01 million the previous day. Total trading volume in the main market soared by 29% to 177.3 million shares, value by 44% to QR 557.42 million and trades by 66% to 16,193.
In the venture capital market, there was a 57% increase in trading volumes to 0.11 million shares, 60% in value to 0.8 million QR and 3% in trades to 39.

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