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QE opens week weak on selling pressure.

By Santhosh V Perumal/Business Reporter The Qatar Exchange yesterday opened the week weak with about 79% of the stocks in the red, mainly on selling pressure from local retail investors and foreign institutions. Consumer goods and transportation equities were the hardest hit as the 20-stock QE Index (based on price data) settled 0.50% lower at 8,358.66 points. The market is down 4.79% year-to-date. The 20-stock Total Return Index also shrank 0.50% to 11,312.29 points and All Share Index (comprising wider constituents) by 0.49% to 2,013.79 points respectively. Both the indices factored in dividend income as well. Under the All Share Index category, the consumer goods plunged 1.20%, transport (1.01%), industrials, insurance and realty (0.44% each), banks and financial services (0.40%) and telecom (0.36%). Major shakers included Masraf Al Rayan, QNB, Mawashi, Qatari Investors Group, Industries Qatar, Barwa, Vodafone Qatar, Gulf Warehousing and Milaha. Market capitalisation eroded 0.24% or more than QR1bn to QR458.15bn with micro, small, mid and large cap equities melting 2.01%, 0.89% and 0.49% and 0.34% respectively. Of the 42 stocks, only two advanced, while 33 declined, two were unchanged and five were not traded. Qatari individual investors were net sellers to the extent of 3.56% or QR4.32mn. A higher 38.61% of them purchased equities compared to 36.24% last Thursday and a higher 42.17% sold against 34.16%. Foreign institutions' net selling surged to 8.96% or QR10.87mn. A lower 19.18% of them were into buying against 23.26% the previous trading day whereas a higher 28.14% of them into selling compared to 24.41%. Domestic institutions were net buyers to the tune of 11.24% or QR13.63mn. A lower 25.51% of them bought equities compared to 29.83% last Thursday but a much lower 14.27% offloaded against 34.45%. Non-Qatari retail investors' net buying slipped to 1.27% or QR1.54mn. A higher 16.69% of them were into buying against 10.67% the previous day and a higher 15.42% compared to 6.99%. Total trading volume rose 23% to 2.55mn shares, value by 13% QR121.27mn and deals by 6% to 2,023. The consumer goods and services sector's trading volume more than quadrupled to 0.66mn shares and value also more than quadrupled to QR35.07mn on more than doubled transactions to 542. The transport sector's trading volume soared 75% to 0.21mn shares and value more than doubled to QR7.26mn on a 31% jump in deals to 152. The telecom sector's trading volume surged 23% to 0.38mn shares and value by 17% to QR7.20mn but transactions fell 6% to 140. However, the insurance sector's trading volume plummeted 33% to 0.02mn shares and value by 51% to QR0.62mn whereas deals doubled to 22. The real estate sector's trading volume plunged 24% to 0.19mn shares value by 8% to QR4.31mn and transactions by 13% to 144. The banks and financial services sector's trading volume tanked 15% to 0.66mn shares, value by 24% to QR29.30mn and deals by 12% to 608. The industrials sector's trading volume was down 2% to 0.43mn shares, value by 16% to QR37.50mn and transactions by 28% to 415. Actively traded stocks (in terms of volume) were Mawashi (553,349 shares); Vodafone Qatar (336,556); Rayan (226,559); IQ (184,214) and Gulf International Services (122,653). QE receives Mideast Investor Relations Society award Qatar Exchange (QE) has received recognition from the Middle East Investor Relations Society (ME-IR Society) for itscontribution to the development of investor relations in Qatar and the region. The award was presented to Abdul Aziz al-Emadi, director, Listing Department (pictured, right), at the ME-IR Society's annual regional conference held last week in Abu Dhabi. "We hope the active support of QE has been a stimulating influence in the success of developing of investor relations for the listed companies of Qatar," al-Emadi said. The bourse has been an active participant in the Society's activities in Qatar since its inception and is one of its founding members. It has been a strong supporter of the society, given their aims of promoting transparency amongst listed companies and assisting where possible in achieving this goal through education and awareness of best market practice.

Gulf Times Newspaper 2012

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Publication:Gulf Times (Doha, Qatar)
Geographic Code:7QATA
Date:Dec 3, 2012
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