By Santhosh V. Perumal

Business Reporter

Qatar Stock Exchange yesterday fell below the 13,800 level, mainly dragged by telecom, consumer goods and banks.

Local retail investors hurriedly squared off their positions, which led the 20-stock Qatar Index (based on price data) fall 0.66% to 13,754.89 points as volumes also shrank.

Large, mid and micro cap equities largely came under selling pressure in the market, which is, however, up 32.52% year-to-date.

The index that tracks Shariah-principled stock was seen melting faster than the other indices in the bourse, where realty and banks stocks together accounted for about 73% of the total trading volume.

The Total Return Index shed 0.66% to 20,515.29 points, All Share Index by 0.6% to 3,491.19 points and Al Rayan Islamic Index by 0.94% to 4,655.26 points.

Market capitalisation shrank 0.63% or about QR5bn to QR745.92bn with large, mid, micro and small caps losing 0.94%, 0.5%, 0.48% and 0.16% respectively.

Telecom stocks deflated 1.27%, consumer goods (0.82%), banks and financial services (0.81%), industrials (0.52%), realty (0.22%), transport (0.12%) and insurance (0.08%).

About 70% of the stocks were in the red with major losers being QNB, Industries Qatar, Ooredoo, Qatar Islamic Bank, Masraf Al Rayan, Vodafone Qatar, Al Meera, Aamal Company and Barwa.

However, Ezdan, Mazaya Group, Islamic Holding Group and Salam International Investment bucked the trend.

Qatari retail investors’ net selling surged to QR42.68mn against QR18.21mn the previous trading day.

However, non-Qatari individual investors turned net buyers to the tune of QR18.28mn compared with net sellers of QR20.05mn last Thursday.

Foreign institutions’ net buying fell to QR14.39mn against QR18.85mn on November 20.

Domestic institutions’ net buying was down to QR10.07mn compared to QR19.41mn the previous trading day.

Total trade volume fell 34% to 7.92mn shares, value by 25% to QR599.59mn and transactions by 29% to 5,673.

The telecom sector’s trade volume plummeted 81% to 0.15mn equities, value by 45% to QR10.63mn and deals by 42% to 167.

The insurance sector saw its trade volume plunge 79% to 0.07mn stocks, value by 82% to QR3.78mn and transactions by 77% to 65.

The consumer goods sector’s trade volume tanked 552% to 0.54mn shares, value by 45% to QR68.66mn and deals by 45% to 521.

There was 39% decline in the transport sector’s trade volume to 0.47mn equities, 43% in value to QR22.78mn and 30% in transactions to 271.

The industrials sector’s trade volume fell 36% to 0.94mn stocks, value by 33% to QR107.14mn and deals by 35% to 1,325.

The market witnessed 35% decline in the real estate sector’s trade volume to 2.5mn shares, 38% in value to QR72.88mn and 29% in transactions to 950.

The banks and financial services sector trade volume was down 8% to 3.25mn equities, value by less than 1% to QR313.62mn and deals by 12% to 2,374.

In the debt market, there was no trading of treasury bills and government bonds.

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