Qatar share index edges down on selling pressure

Qatar Stock Exchange was on Thursday back in the negative trajectory as its key index lost 25 points but remained above 10,600 levels, mainly on selling pressure in realty and banking stocks.
Weakened buying support from foreign institutions and higher net profit booking by local retail investors rather led the 20-stock Qatar Index shrink 0.23% to 10,629.13 points, reflecting the weak sentiments in the global oil market.
Large and midcap equities were the hardest hit in the market, whose year-to-date gains were at 1.84%.
Islamic stocks were seen declining slower than the main index as well as other indices in the bourse, where domestic institutions turned net buyers and there was also higher buying interests from non-Qatari individuals.
Trade turnover and volumes were on the decline in the bourse, where real estate, telecom, banking and industrials sectors together accounted for more than 85% of the total volumes.
Market capitalisation declined more than QR1bn or 0.26% to QR568.96bn as large and midcap equities fell 0.44% and 0.28%, while micro and small caps gained 0.81% and 0.15% respectively.
The Total Return Index shed 0.23% to 17,254.13 points, All Share Index by 0.26% to 2,923.64 points and Al Rayan Islamic Index by 0.13% to 4,021.08 points.
The realty sector saw its index fall 0.79%, banks and financial services (0.55%) and transport (0.15%), whereas insurance gained 1%, industrials (0.13%), telecom (0.06%) and consumer goods (0.05%).
Major losers included QNB, Qatar Electricity and Water, Qatar Islamic Bank, Gulf International Services, Mesaieed Petrochemical Holding, United Development Company, Ezdan, Barwa, Commercial Bank, al khaliji, Ooredoo, Nakilat and Qatari German Company for Medical Devices.
Nevertheless, Aamal Company, Qatar Insurance, Qatar Islamic Insurance, Industries Qatar, Mazaya Qatar, Vodafone Qatar, Doha Bank, Alijarah Holding, Qatar First Bank, Dlala and Medicare Group were among the gainers.
Non-Qatari institutions’ net buying weakened perceptibly to QR13.82mn compared to QR24.22mn on Wednesday.
Local retail investors’ net profit booking increased to QR5mn against QR3.32mn the previous day.
The GCC (Gulf Cooperation Council) retail investors’ net buying fell to QR0.03mn compared to QR0.69mn on February 8.
However, domestic institutions turned net buyers to the tune of QR1.3mn compared with net sellers of QR6.43mn on Wednesday.
Non-Qatari individual investors’ net buying strengthened to QR2.47mn against QR0.76mn the previous day.
The GCC institutions’ net profit booking declined to QR12.59mn compared to QR15.92mn on February 8.
Total trade volume fell 25% to 8.2mn shares, value by 28% to QR260.19mn and deals by 10% to 3,815.
The market witnessed 51% plunge in the consumer goods sector’s trade volume to 0.49mm equities, 24% in value to QR23.78mn and 2% in transactions to 435.
The real estate sector’s trade volume plummeted 45% to 2.35mn stocks, value by 54% to QR58.79mn and deals by 46% to 793.
The banks and financial services sector saw 45% shrinkage in trade volume to 1.56mn shares and 43% in value to QR74.96mn but on 5% jump in transactions to 1,184.
The transport sector’s trade volume tanked 20% to 0.2mn equities, value by 28% to QR7.42mn and deals by 16% to 132.
However, the insurance sector’s trade volume almost tripled to 0.51mn stocks and value more than doubled to QR33.07mn on 61% expansion in transactions to 245.
The industrials sector’s trade volume more than doubled to 1.15mn shares, value soared 65% to QR39.76mn and deals by 35% to 754.
There was 3% increase in the telecom sector’s trade volume to 1.95mn equities but on 3% fall in value to QR22.42mn and 15% in transactions to 272.
In the debt market, there was no trading of treasury bills and government bonds.