Gulf and domestic institutions’ bearish outlook on Thursday extended the bearish run on the Qatar Stock Exchange for the sixth consecutive day.
Selling pressure in transport and industrials stocks rather drove the 20-stock Qatar Index down 0.53% to 10,241.61 points.
The market witnessed consistent profit-booking pressure in the first half to take the index to a low of below 10,200 points, after which there was a sustained buying support but overall the index settled 54 points lower against the previous close.
Small cap equities witnessed higher selling pressure in the bourse, whose year-to-date losses widened further to 1.87%.
However, local retail, Gulf and non-Qatari retail investors turned bullish and there was considerably lower net selling by foreign institutions.
Trade turnover and volumes were on the increase in the market, where telecom, real estate and banking sectors together accounted for about 85% of the total volumes.
Market capitalisation shed more than QR2bn, or 0.39%, to QR552.22bn as small, large, mid and microcap equities lost 0.77%, 0.51%, 0.44% and 0.08% respectively.
The Total Return Index fell 0.53% to 17,174.58 points, the All Share Index by 0.45% to 2,916.72 points and the Al Rayan Islamic Index by 0.76% to 4,111.88 points.
The transport sector saw its index decline 1.29%, followed by industrials (1.03%), consumer goods (0.45%), banks and financial services (0.44%) and realty (0.26%); whereas insurance and telecom gained 0.98% and 0.34% respectively.
More than 64% of the stocks were in the red with major losers being Gulf International Services, Qatar Industrial Manufacturing, Qatar National Cement, Industries Qatar, Qatari Investors Group, Commercial Bank, Qatar Islamic Bank, QIIB, Masraf Al Rayan, Qatar First Bank, Qatar Electricity and Water, Qatar Islamic Insurance, Barwa, United Development Company, Vodafone Qatar, Milaha and Nakilat.
Nevertheless, Aamal Company, Ooredoo, Qatar Insurance, Doha Insurance, Mesaieed Petrochemical Holding, al khaliji and Dlala were among the gainers.
The GCC (Gulf Cooperation Council) institutions were net sellers to the tune of QR12.06mn against net buyers of QR5.81mn on Wednesday.
Domestic institutions also turned net sellers to the extent of QR12.01mn compared with net buyers of QR10.51mn the previous day.
However, local retail investors were net buyers to the tune of QR21.32mn against net profit takers of QR7.63mn on April 19.
The GCC individual investors were also net buyers to the extent of QR1.97mn compared with net buyers of QR1.18mn on Wednesday.
Non-Qatari individual investors were also net buyers to the tune of QR1.04mn against net sellers of QR0.42mn the previous day.
Non-Qatari institutions’ net profit-booking weakened perceptibly to QR0.27mn compared to QR7.12mn on April 19.
Total trade volumes rose 45% to 11.57mn shares, value by 55% to QR274.1mn and deals by 32% to 3,530.
The industrials sector’s trade volume more than tripled to 1.12mn equities and value more than doubled to QR45.23mn on more-than-doubled transactions to 1,026.
The insurance sector’s trade volume almost tripled to 0.11mn stocks and value more than doubled to QR6.15mn on an 8% jump in deals to 84.
There was a 48% surge in the telecom sector’s trade volume to 3.72mn shares, 53% in value to QR38.98mn and 13% in transactions to 263.
The banks and financial services sector’s trade volume soared 41% to 2.7mn equities, value by 54% to QR93.27mn and deals by 23% to 1,186.
The real estate sector saw a 30% expansion in trade volume to 3.37mn stocks, 42% in value to QR62.07mn and 5% in transactions to 470.
However, the transport sector’s trade volume declined 8% to 0.35mn shares but value rose 8% to QR11.68mn despite 2% lower deals to 252.
The market witnessed a 5% fall in the consumer goods sector’s trade volume to 0.2mm equities but on 39% increase in value to QR16.71mn and 20% in transactions to 249.
In the debt market, there was no trading of treasury bills and government bonds.
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