By Santhosh V. Perumal
Business Reporter
Qatar Stock Exchange continued to be under bearish spell, albeit at lower levels, mainly on foreign institutions’ increased net selling and local retail investors’ reduced net buying.
Consumer goods, realty and banking counters witnessed the maximum selling pressure as the 20-stock Qatar Index fell another 0.08% for the second day to 11,822.17 points amid higher trade volumes.
The index that tracks Shariah-principled stocks was seen melting the most in the market, which is down 3.77% year-to-date.
Nevertheless, domestic institutions and non-Qatari individuals as well as Gulf Cooperation Council (GCC) individuals and institutions were seen bullish in the bourse, where trading was largely skewed towards the banking and real estate sectors, whose stocks together constituted about 66% of the overall trading volume.
Market capitalisation was down 0.12% or QR78mn to QR628.03bn with micro, mid, small and large cap equities losing 0.52%, 0.44%, 0.13% and 0.05% respectively.
The Total Return Index shed 0.08% to 18,375.87 points, All Share Index by 0.19% to 3,168.01 points and Al Rayan Islamic Index by 0.21% to 4,642.34 points.
Consumer goods stocks shrank 1.08%, real estate (0.83%) and banks and financial services (0.37%); while insurance gained 0.78%, industrials (0.38%), telecom (0.25%) and transport (0.17%).
About 67% of the stocks were in the red with major losers being QNB, Ezdan, Mazaya Qatar, Barwa, Vodafone Qatar, Nakilat, Doha Bank, QIIB, Alijarah Holding, Gulf International Services, Mesaieed Petrochemical Holding and Qatar Electricity and Water; whereas Industries Qatar, Ooredoo, Qatar Islamic Bank, Milaha, Qatari Investors Group and Qatar Insurance bucked the trend.
Non-Qatari institutions’ net profit booking strengthened to QR32.41mn against QR18.26mn on July 28.
Local retail investors’ net buying substantially weakened to QR4.9mn compared to QR38.04mn the previous day.
However, domestic institutions turned net buyers to the tune of QR17.2mn against net sellers of QR3.52mn on Tuesday.
Non-Qatari individual investors were also net buyers to the extent of QR7.98mn compared with net sellers of QR3.52mn on July 28.
The GCC individual investors turned net buyers to the tune of QR0.17mn against net sellers of QR2.8mn the previous day.
The GCC institutions were also net buyers to the extent of QR2.17mn compared with net profit takers of QR1.95mn on Tuesday.
Total trade volume rose 7% to 5.18mn shares; while value fell 5% to QR212.83mn. Deals were up 2% to 7,396.
The banks and financial services sector reported 92% surge in trade volume to 1.82mn equities, 51% in value to QR84.43mn and 29% in transactions to 1,927.
The consumer goods sector’s trade volume soared 81% to 0.65mn stocks; while value shrank 16% to QR31.9mn. Deals grew 15% to 1,714.
There was 4% increase in the industrials sector’s trade volume to 0.59mn shares, 3% in value to QR38.45mn and 14% in transactions to 1,416.
However, the insurance sector’s trade volume plummeted 53% to 0.15mn equities, value by 67% to QR7.43mn and deals by 41% to 643.
The market witnessed 33% plunge in the transport sector’s trade volume to 0.12mn stocks, 32% in value to QR5.2mn and 5% in transactions to 268.
The telecom sector’s trade volume tanked 33% to QR0.27mn shares, value by 60% to QR5.31mn and deals by 49% to 178.
The real estate sector saw 23% decline in trade volume to 1.58mn equities, 20% in value to QR40.11mn and less than 1% in transactions to 1,250.
In the debt market, there was no trading of treasury bills and government bonds.
