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Profit booking, notably in realty and banking stocks, yesterday weakened the Qatar Exchange.
Lower buying interests from local retail investors and relatively higher selling pressure from foreign institutions led the 20-stock Qatar Index (based on price data) fall 0.41% to 9,048.62 points.
About 62% of the stocks were in the red with major shakers being International Islamic, Barwa, Nakilat, United Development Company (UDC), Mazaya Qatar, Alijarah Holding, QNB, Doha Bank and Qatari Investors Group; even as Milaha bucked the trend.
UDC and Barwa were among the most active by volume and value in the market, which is, however, up 8.25% year-to-date (YTD) but still below Dubai, Abu Dhabi and Kuwait bourses, which returned double-digit gains to investors.
The 20-stock Total Return Index also fell 0.41% to 12,928.41 points, All Share Index (comprising wider constituents) by 0.35% to 2,301.46 points and Al Rayan Islamic Index by 0.54% to 2,742.03 points.
All the three indices factored in dividend income as well.
Under the All Share Index category, the real estate group shrank 1.14%, banks and financial services (0.53%), insurance (0.4%), telecom (0.39%), transport (0.25%) and industrials (0.09%); while that of consumer goods rose 0.39%.
Transport, telecom, industrials, consumer goods, insurance, banking and realty sectors have gained YTD 22.85%, 19.36%, 18.84%, 18.75%, 15.52%, 9.33% and 9.29% respectively.
Market capitalisation was down 0.32% or about QR2bn to QR501.91bn as micro, mid and large cap equities notably melted 0.76%, 0.61% and 0.3% respectively.
Small, mid and large cap equities have, however, gained YTD 10.15%, 9.83% and 7.41% respectively; while micro caps fell 1.42%.
Of the 42 stocks, only eight advanced, while 26 declined, five were unchanged and three were not traded.
Qatari individual investors’ net profit booking surged to 5.55% or QR17.86mn. A lower 34.23% of them purchased equities against 42.29% the previous day and a lower 39.78% sold compared to 43.21%.
Foreign institutions’ net selling rose to 5.98% or QR19.25mn. A higher 20.66% of them bought equities against 15.92% on Wednesday and a higher 26.64% offloaded compared to 19.71%.
However, domestic institutions’ net buying soared to 11.96% or QR38.49mn. A higher 34.44% of them were into buying against 26.84% the previous day and a marginally higher 22.48% of them into selling compared to 21.08%.
Non-Qatari individual investors’ net profit booking fell to 0.43% or QR1.38mn. A lower 10.67% of them bought equities against 14.95% on Wednesday and a lower 11.1% sold compared to 16%.
Total trading volume fell 25% to 7.60mn shares, value by 7% to QR321.85mn and deals by 22% to 4,370.
The telecom sector’s trading volume plummeted 64% to 0.37mn shares, value by 25% to QR14.04mn and transactions by 25% to 246.
The insurance sector’s trading volume plunged 28% to 0.44mn shares, value by 24% to QR25.80mn and deals by 20% to 310.
The consumer goods and services sector’s trading volume tanked 22% to 0.39mn shares, value by 5% to QR21.52mn and transactions by 14% to 305.
The real estate sector’s trading volume declined 22% to 2.48mn shares, value by 21% to QR55.34mn and deals by 26% to 708.
The banks and financial services sector’s trading volume shrank 21% to 2.12mn shares, while value was up 5% to QR115.18mn but transactions fell 14% to 1,663.
The transport sector’s trading volume lost 17% to 1.29mn shares, value by 14% to QR36.47mn and deals by 31% to 499.
The industrials sector’s trading volume was down 15% to 0.53mn shares, whereas value gained 10% to QR53.50mn but transactions shrank 28% to 639.
Actively traded stocks (in terms of volume) were UDC (1.50mn shares); Nakilat (954,585); Barwa (821,015); Alijarah Holding (436,259) and Masraf Al Rayan (370,591).
In the debt market, there was no trading of treasury bills.