Qatar Stock Exchange was back in the negative trajectory on Tuesday, mainly steered by foreign and Gulf institutions’ net selling.
Profit booking was seen more pronounced in the consumer goods, realty and banking counters as the 20-stock fell 0.17% to 9,664.85 points with trading turnover and volumes also on the decline.
The sentiments in the bourse rather reflect bearish global energy market, where oil fell for a fifth consecutive day on rising production from major exporters, and as the dollar strengthened.
The bearish outlook of non-Qatari individual investors also played its part in the market, which is down 7.33% year-to-date.
Islamic stocks were seen falling faster than the conventional ones in the bourse, where industrials, banking and real estate stocks together constituted more than 78% of the total trading volume.
Market capitalisation fell 0.16% or QR81mn to QR520.4bn as mid, micro and large cap equities fell 0.48%, 0.26% and 0.08% respectively; whereas small caps were up 0.14%.
The Total Return Index was down 0.17% to 15,637.09 points, All Share Index by 0.21% to 2,705.36 points and Al Rayan Islamic Index by 0.26% to 3,799.32 points.
Insurance stocks shrank 1.23%, consumer goods (0.84%), realty (0.63%) and banks and financial services (0.42%); while telecom gained 1.47%, industrials (0.39%) and transport (0.37%).
More than 56% of the stocks were in the red with major losers being Qatar Insurance, Ezdan, Mazaya Qatar, Ahli Bank, QNB, Masraf Al Rayan, Nakilat and Qatari German Company for Medical Devices.
However, Gulf International Services, Industries Qatar, Ooredoo, Qatar Islamic Bank and al khaliji were seen bucking the trend.
Non-Qatari institutions turned net sellers to the tune of QR5.52mn compared with net buyers of QR5.42mn on May 23.
Non-Qatari individual investors were also net sellers to the extent of QR3.16mn against net buyers of QR1.71mn on Monday.
The GCC (Gulf Cooperation Council) institutions’ net selling rose to QR5.3mn compared to QR2.37mn the previous day.
However, local retail investors’ net buying strengthened to QR14.17mn against QR8.92mn on May 23.
Domestic institutions turned net buyers to the tune of QR0.59mn compared with net sellers of QR12.65mn on Monday.
The GCC individual investors’ net profit booking weakened to QR0.77mn against QR1.05mn the previous day.
Total trade volume fell 17% to 4.02mn shares, value by 15% to QR151.76mn and deals by 16% to 3,140.
The banks and financial services sector saw 49% plunge in trade volume to 0.89mn equities, 34% in value to QR37.57mn and 22% in transactions to 775.
The transport sector’s trade volume plummeted 48% to 0.27mn stocks, value by 41% to QR8.96mn and deals by 60% to 202.
There was 45% shrinkage in the telecom sector’s trade volume to 0.34mn shares, 28% in value to QR15.87mn and 10% in transactions to 728.
The consumer goods sector’s trade volume tanked 41% to 0.19mn equities, value by 48% to QR6.85mn and deals by 12% to 202.
The market witnessed 30% decline in the insurance sector’s trade volume to 0.07mn stocks, 25% in value to QR5.2mn and 43% in transactions to 67.
However, the industrials sector’s trade volume soared 86% to 1.38mn shares, value by 29% to QR60.02mn and deals by 24% to 725.
The real estate sector reported 7% increase in trade volume to 0.87mn equities but on 1% fall in value to QR17.29mn and 12% in transactions to 441.
In the debt market, there was no trading of treasury bills and government bonds.
Related Story