The Qatar Stock Exchange again failed to break the 14,000 psychological mark with industrials, banking and telecom stocks acting as the major drag.
Qatari and non-Qatari retail investors as well as foreign institutions were seen net sellers as the 20-stock Qatar Index (based on price data) shed 0.74% to 13,882.49 points amidst higher volumes.
The index that tracks Shariah-principled stocks was seen melting slower than the other indices in the market, which is up 33.75% year-to-date.
The Total Return Index fell 0.74% to 20,705.61 points, All Share Index by 0.65% to 3,511.55 points and Al Rayan Islamic Index by 0.55% to 4,692.44 points.
However, domestic institutions were seen increasingly net buyers in the bourse, where trading was largely skewed towards realty and banking stocks.
Market capitalisation eroded 0.5% or about QR4bn to QR738.93bn. Large and mid caps fell 0.94% and 0.22%; while small and micro caps rose 0.15% and 0.12% respectively.
Industrials stocks shrank 1.03%, banks and financial services (0.88%), telecom (0.73%) and realty (0.4%); whereas insurance gained 0.5%, transport (0.49%) and consumer goods (0.46%). Major losers included QNB, Industries Qatar, Ooredoo, International Islamic, Qatar Islamic Bank, al khaliji, Barwa, Vodafone Qatar, Mesaieed Petrochemical Holding and Qatar Islamic Insurance.
However, Ezdan, Nakilat, Doha Insurance, Qatar National Cement, Mannai Corporation and Salam International Investment were seen to buck the trend.
Ezdan, al khaliji and Masraf Al Rayan were the most active in terms of volume and value.
Qatari retail investors’ net profit booking fell to QR36.04mn against QR38.83mn last Thursday.
Non-Qatari individual investors’ net selling sunk to QR13.14mn compared to QR31.03mn the previous day. Foreign institutions turned net sellers to the tune of QR15.32mn against net buyers of QR9.26mn last Thursday.
However, domestic institutions’ net buying rose to QR64.55mn compared to QR60.6mn the previous day.
Total trading volume rose 37% to 20.4mn shares; whereas value fell 13% to QR706.19mn. Transactions were up 6% to 7,299.
The real estate sector’s trading volume more than quadrupled to 10.71mn equities and value more than tripled to QR222.68mn on more than doubled deals to 2,334.
The insurance sector’s trading volume almost quadrupled to 0.76mn stocks and value more than tripled to QR55.9mn on 53% jump in transactions to 261.
The consumer goods sector’s trading volume more than tripled to 2.09mn shares, value surged 73% to QR57.63mn and deals by 82% to 546.
The transport sector’s trading volume more than tripled to 1.82mn equities and value more than doubled to QR46.4mn on 54% expansion in transactions to 389.
However, the banks and financial services sector reported 65% plunge in trade volume to 3.12mn stocks, 60% in value to QR195.02mn and 44% in deals to 1,786.
The telecom sector’s trading volume tanked 8% to 0.66mn shares, value by 22% to QR23.54mn and transactions by 4% to 299.
The market witnessed 6% shrinkage in the industrials sector’s trading volume to 1.24mn equities, 35% in value to QR105.01mn and 1% in deals to 1,684.
In the debt market, there was no trading of treasury bills and government bonds.
Originally published on www.gulf-times.com