Qatar Stock Exchange (QSE) continued to witness bearish pressure for the second day on Tuesday as Gulf and domestic institutions turned profit takers.
Selling pressure was seen more within telecom and realty counters, leading the 20-stock Qatar Index lose another 0.7% to 10,411.77 points, as oil prices eased from its five-week high on rising US shale oil production.
The market largely sustained the previous day's selling pressure during the first 90 minutes, taking the index to a low of 10,420 points, after which it was on a gaining mode to touch a high of near 10,480 points near the fag end.
However, strong selling pressure in the last few minutes led it overall settle 73 points lower against the previous close.
Selling was seen more pronounced in large cap segments in the market, which reported 0.24% year-to-date losses.
Islamic stocks were seen declining slower than the main index as well as other indices in the market, which also saw lower buying support from foreign institutions and higher net selling by Gulf individual investors. However, local and non-Qatari retail investors turned bullish.
Trade turnover and volumes were on the increase in the market, where banking, real estate and telecom sectors together accounted for about 84% of the total volumes.
Market capitalisation eroded more than QR3bn or 0.55% to QR559.33bn as large and mid-cap cap equities declined 0.6% and 0.02%, while micro and midcaps gained 0.27% and 0.19% respectively.
The Total Return Index shrank 0.7% to 17,365.76 points, All Share Index by 0.53% to 2,948.57 points and Al Rayan Islamic Index by 0.28% to 4,166.21 points.
The telecom sector saw its index decline 1.98%, realty (1.25%), banks and financial services (0.5%) and industrials (0.41%); while transport gained 0.77%, consumer goods (0.17%) and insurance (0.09%).
More than 45% of the stocks were in the red with major losers being Ooredoo, Ezdan, Commercial Bank, Qatar National Cement, Al Khaleej Takaful, Aamal Company, QNB, Qatar Islamic Bank, Doha Bank, Qatari Investors Group, Qatar Electricity and Water, Qatar Insurance, Qatari German Company for Medical Devices and Salam International Investment.
Nevertheless, Milaha, Gulf Warehousing, Nakilat, al khaliji, Alijarah Holding, Dlala, Mesaieed Petrochemical Holding, Qatar Islamic Insurance, Mazaya Qatar and Vodafone Qatar were among the gainers.
The GCC (Gulf Cooperation Council) institutions turned net sellers to the tune of QR8.33mn against net buyers of QR12.47mn on Monday.
Domestic institutions were also net sellers to the extent of QR4.73mn compared with net buyers of QR10.52mn on April 10.
Non-Qatari institutions’ net buying weakened perceptibly to QR4.56mn against QR10.29mn the previous day.
The GCC retail investors’ net selling strengthened influentially to QR7.17mn compared to QR2.74mn on Monday.
However, local retail investors turned net buyers to the tune of QR13.6mn against net profit takers of QR30.19mn on April 10.
Non-Qatari individual investors were also net buyers to the extent of QR2.07mn compared with net sellers of QR0.33mn the previous day.
Total trade volumes rose 46% to 10.7mn shares and value by 21% to QR283.34mn, while deals were down less than 1% to 2,985.
The insurance sector’s trade volume more than tripled to 0.22mn equities and value more than doubled to QR8.81mn on 83% jump in transactions to 141.
The banks and financial services sector’s trade volume more than doubled to 3.77mn stocks, value soared 76% to QR137.31mn and deals by 2% to 1,073.
There was 61% surge in the industrials sector’s trade volume to 0.74mn shares but on 28% fall in value to QR24.23mn and 6% in transactions to 524.
The telecom sector’s trade volume shot up 28% to 2.26mn equities, value by 32% to QR27.71mn and deals by 13% to 279.
The real estate sector reported 21% increase in trade volume to 2.94mn stocks but on 15% decline in value to QR48.8mn and 18% in transactions to 454.
The transport sector’s trade volume was up 8% to 0.57mn shares, value by 41% to QR25.72mn and deals by 20% to 292.
However, the market witnessed 30% plunge in the consumer goods sector’s trade volume to 0.19mm equities, 51% in value to QR10.76mn and 16% in transactions to 222.
In the debt market, there was no trading of treasury bills and government bonds.
The market largely sustained the previous day's selling pressure during the first 90 minutes, taking the index to a low of 10,420 points, after which it was on a gaining mode to touch a high of near 10,480 points near the fag end.
However, strong selling pressure in the last few minutes led it overall settle 73 points lower against the previous close.
Selling was seen more pronounced in large cap segments in the market, which reported 0.24% year-to-date losses.
Islamic stocks were seen declining slower than the main index as well as other indices in the market, which also saw lower buying support from foreign institutions and higher net selling by Gulf individual investors. However, local and non-Qatari retail investors turned bullish.
Trade turnover and volumes were on the increase in the market, where banking, real estate and telecom sectors together accounted for about 84% of the total volumes.
Market capitalisation eroded more than QR3bn or 0.55% to QR559.33bn as large and mid-cap cap equities declined 0.6% and 0.02%, while micro and midcaps gained 0.27% and 0.19% respectively.
The Total Return Index shrank 0.7% to 17,365.76 points, All Share Index by 0.53% to 2,948.57 points and Al Rayan Islamic Index by 0.28% to 4,166.21 points.
The telecom sector saw its index decline 1.98%, realty (1.25%), banks and financial services (0.5%) and industrials (0.41%); while transport gained 0.77%, consumer goods (0.17%) and insurance (0.09%).
More than 45% of the stocks were in the red with major losers being Ooredoo, Ezdan, Commercial Bank, Qatar National Cement, Al Khaleej Takaful, Aamal Company, QNB, Qatar Islamic Bank, Doha Bank, Qatari Investors Group, Qatar Electricity and Water, Qatar Insurance, Qatari German Company for Medical Devices and Salam International Investment.
Nevertheless, Milaha, Gulf Warehousing, Nakilat, al khaliji, Alijarah Holding, Dlala, Mesaieed Petrochemical Holding, Qatar Islamic Insurance, Mazaya Qatar and Vodafone Qatar were among the gainers.
The GCC (Gulf Cooperation Council) institutions turned net sellers to the tune of QR8.33mn against net buyers of QR12.47mn on Monday.
Domestic institutions were also net sellers to the extent of QR4.73mn compared with net buyers of QR10.52mn on April 10.
Non-Qatari institutions’ net buying weakened perceptibly to QR4.56mn against QR10.29mn the previous day.
The GCC retail investors’ net selling strengthened influentially to QR7.17mn compared to QR2.74mn on Monday.
However, local retail investors turned net buyers to the tune of QR13.6mn against net profit takers of QR30.19mn on April 10.
Non-Qatari individual investors were also net buyers to the extent of QR2.07mn compared with net sellers of QR0.33mn the previous day.
Total trade volumes rose 46% to 10.7mn shares and value by 21% to QR283.34mn, while deals were down less than 1% to 2,985.
The insurance sector’s trade volume more than tripled to 0.22mn equities and value more than doubled to QR8.81mn on 83% jump in transactions to 141.
The banks and financial services sector’s trade volume more than doubled to 3.77mn stocks, value soared 76% to QR137.31mn and deals by 2% to 1,073.
There was 61% surge in the industrials sector’s trade volume to 0.74mn shares but on 28% fall in value to QR24.23mn and 6% in transactions to 524.
The telecom sector’s trade volume shot up 28% to 2.26mn equities, value by 32% to QR27.71mn and deals by 13% to 279.
The real estate sector reported 21% increase in trade volume to 2.94mn stocks but on 15% decline in value to QR48.8mn and 18% in transactions to 454.
The transport sector’s trade volume was up 8% to 0.57mn shares, value by 41% to QR25.72mn and deals by 20% to 292.
However, the market witnessed 30% plunge in the consumer goods sector’s trade volume to 0.19mm equities, 51% in value to QR10.76mn and 16% in transactions to 222.
In the debt market, there was no trading of treasury bills and government bonds.
