The Qatar Stock Exchange opened the week weak and its key index fell 32 points as Gulf institutions were increasingly into profit-booking, while their domestic counterparts turned bearish.
The industrials, telecom and transport counters witnessed higher than average selling pressure, which led the 20-stock Qatar Index shrank 0.31% to 10,412.85 points.
Foreign institutions’ net buying weakened substantially and Gulf individual investors turned bearish in the market, whose year-to-date losses widened to 0.23%.
Large cap equities witnessed the maximum selling in the bourse, where local retail investors turned bullish and there was also increased buying support from non-Qatari individuals.
Islamic stocks were seen declining slower than the main index.
Trade turnover shrank amidst increasing volumes in the market, where banking, realty and telecom sectors together accounted for about 86% of the total volumes.
Market capitalisation shed more than QR2bn, or 0.41%, to QR557.25bn with large and midcap equities losing 0.54% and 0.05%; while micro and small caps gained 1.02% and 0.3% respectively.
The Total Return Index declined 0.31% to 17,257.81 points, the All Share Index by 0.24% to 2,932.52 points and the Al Rayan Islamic Index by 0.25% to 4,126.02 points.
The industrials sector saw its index fall 1.15%, followed by telecom (0.9%), transport (0.45%), banks and financial services (0.28%) and consumer goods (0.27%); whereas real estate and insurance gained 0.91% and 0.71% respectively.
About 44% of the stocks were in the red with major losers being QNB, Qatar Islamic Bank, Commercial Bank, Doha Bank, al khaliji, Industries Qatar, Woqod, Aamal Company, Qatar Electricity and Water, Gulf International Services, Qatar Insurance, Ooredoo and Nakilat.
Nevertheless, Ezdan, Barwa, Mesaieed Petrochemical Holding, Qatari Germany Company for Medical Devices, Alijarah Holding, Islamic Holding Group, Al Khaleej Takaful, Qatar Islamic Insurance and Widam Food were among the gainers.
The GCC (Gulf Cooperation Council) institutions’ net selling increased to QR13.37mn against QR10.06mn on March 23.
Domestic institutions turned net sellers to the tune of QR9.39mn compared with net buyers of QR1.99mn last Thursday.
Non-Qatari institutions’ net buying fell substantially to QR2.78mn against QR39.79mn the previous trading day.
The GCC retail investors turned net sellers to the extent of QR0.56mn compared with net buyers of QR1.56mn on March 23.
However, local retail investors turned net buyers to the tune of QR13.82mn against net profit takers of QR35.01mn last Thursday.
Non-Qatari individual investors’ net buying strengthened to QR6.74mn compared to QR1.71mn the previous trading day.
Total trade volumes rose 15% to 8.3mn shares, while value fell 12% to QR222.52mn and deals by 11% to 2,710.
The market witnessed a 36% surge in the telecom sector’s trade volume to 1.46mn equities but on a 15% decline in value to QR15.16mn and 45% in transactions to 137.
The industrials sector’s trade volume soared 21% to 0.69mn stocks, value by 1% to QR36.71mn and deals by 11% to 640.
The banks and financial services sector saw a 21% increase in trade volume to 4.07mn shares but on a 10% slump in value to QR117.41mn and 3% in transactions to 1,208.
The real estate sector’s trade volume was up 2% to 1.6mn equities and value by 1% to QR31.7mn, whereas deals fell 14% to 311.
However, there was a 50% plunge in the insurance sector’s trade volume to 0.05mn stocks, 59% in value to QR2.48mn and 31% in transactions to 60.
The consumer goods sector’s trade volume plummeted 40% to 0.12mm shares, value by 32% to QR11.03mn and deals by 40% to 201.
The transport sector reported a 3% shrinkage in trade volume to 0.31mn equities, 40% in value to QR8.03mn and 11% in transactions to 153.
In the debt market, there was no trading of treasury bills and government bonds.
