Domestic institutions’ increased net selling and local retail investors’ lower buying was instrumental in 0.43% decline in 20-stock Qatar Index to 10,197.33 points.
Opening weak, the market was however largely on a winning streak with its key index nearing a high of 10,260 points intra-day but profit booking during the remainder of the session largely led it settle 44 points lower against the previous close.
Large and midcap equities witnessed higher selling in the bourse, whose year-to-date losses widened to 2.29%.
Islamic stocks were seen falling slower than the main index in the market, whose overall bearish sentiments were strengthened by Gulf individuals’ lower net buying and foreign institutions’ higher net selling.
However, Gulf institutions turned bullish and there was also higher net buying by non-Qatari individual investors.
Trade turnover and volumes were on the decline in the bourse, where telecom, banking and real estate sectors together accounted for about 86% of the total volumes.
Market capitalisation shed about QR3bn or 0.47% to QR549.61bn as large, mid and microcap equities lost 0.42%, 0.35% and 0.25% respectively; whereas small caps gained 0.47%.
The Total Return Index fell 0.43% to 17,100.32 points, All Share Index by 0.39% to 2,905.23 points and Al Rayan Islamic Index by 0.38% to 4,096.21 points.
The industrials’ index fell 0.64%, insurance (0.48%), realty (0.4%), banks and financial services (0.35%), telecom (0.21%), consumer goods (0.2%) and transport (0.1%).
More than 63% of the stocks were in the red with major losers being Industries Qatar, Vodafone Qatar, Doha Bank, QNB, Qatar First Bank, Masraf Al Rayan, Qatar Electricity and Water, Qatar Insurance, Barwa, Ezdan, Mazaya Qatar, United Development Company, Milaha and Gulf Warehousing.
Nevertheless, QIIB, Zad Holding, Aamal Company, Gulf International Services, Nakilat, Qatar National Cement, Qatari Investors Group and Widam Food were among the gainers.
Domestic institutions’ net profit booking rose considerably to QR21.88mn compared to QR12.01mn on April 20.
Local retail investors’ net buying weakened influentially to QR14.76mn against QR21.32mn the previous trading day.
Non-Qatari institutions’ net profit booking rose perceptibly to QR4.36mn compared to QR0.27mn last Thursday.
The GCC (Gulf Cooperation Council) individual investors’ net buying fell to QR0.4mn against QR1.97mn on April 20.
However, the GCC institutions turned net buyers to the tune of QR5.57mn against net sellers of QR12.06mn the previous trading day.
Non-Qatari individual investors’ net buying strengthened substantially to QR5.52mn compared to QR1.04mn last Thursday.
Total trade volumes fell 41% to 6.8mn shares, value by 44% to QR153.46mn and deals by 35% to 2,299.
There was 73% plunge in the insurance sector’s trade volume to 0.03mn equities, 67% in value to QR2.02mn and 37% in transactions to 53.
The industrials sector’s trade volume plummeted 68% to 0.36mn stocks, value by 54% to QR20.79mn and deals by 34% to 680.
The real estate sector saw 56% shrinkage in trade volume to 1.49mn shares, 60% in value to QR24.53mn and 37% in transactions to 297.
The banks and financial services sector’s trade volume tanked 33% to 1.82mn equities, value by 49% to QR47.32mn and deals by 42% to 693.
The market witnessed 33% decline in the telecom sector’s trade volume to 2.51mn stocks, 38% in value to QR24.18mn and 51% in transactions to 130.
The transport sector’s trade volume shrank 23% to 0.27mn shares but value gained 22% to QR14.3mn despite 45% slump in deals to 139.
However, the consumer goods sector reported 55% surge in trade volume to 0.31mm equities, 22% in value to QR20.31mn and 23% in transactions to 307.
In the debt market, there was no trading of treasury bills and government bonds.
