Profit booking – particularly in telecom and transport – led the 20-stock Qatar Index decline 0.43% to 10,153.76 points.
Recovering from initial losses, the market traded above 10,200 points in the first 15 minutes, after which there was a steady profit booking for the 105 minutes to take the index to a low of about 10,120 points. However, there was some last minute buying pressure but overall the index settled 44 points lower against the previous close.
Selling was rather skewed towards small cap segments in the bourse, whose year-to-date losses widened to 2.71%.
Islamic stocks however were seen falling slower than the main index in the market, where Gulf individuals turned bearish and there was a lower buying support from Gulf institutions.
However, local retail investors were increasingly net buyers and domestic institutions turned bullish.
Trade turnover and volumes were on the increase in the bourse, where banking, real estate and telecom sectors together accounted for about 77% of the total volumes.
Market capitalisation shed about QR3bn or 0.51% to QR546.82bn as small, large, micro and midcap equities lost 0.73%, 0.47%, 0.33% and 0.07% respectively.
The Total Return Index declined 0.43% to 17,027.25 points, All Share Index by 0.41% to 2,893.43 points and Al Rayan Islamic Index by 0.34% to 4,082.25 points.
The telecom sector’s index shrank 1.94%, transport (1.58%), industrials (0.57%), consumer goods (0.52%), banks and financial services (0.16%) and realty (0.06%); whereas insurance was up 0.01%.
About 61% of the stocks were in the red with major losers being Ooredoo, Nakilat, Milaha, Industries Qatar, Aamal Company, QNB, QIIB, Medicare Group, Widam Food, Mesaieed Petrochemical Holding, Gulf International Services, Mazaya Qatar, Barwa, Islamic Holding Group and Alijarah Holding.
Nevertheless, Qatar Islamic Bank, Doha Bank, Commercial Bank, Qatar First Bank, Dlala and United Development Company were among the gainers.
Non-Qatari institutions’ net selling strengthened considerably to QR25.5mn compared to QR4.36mn the previous day.
Non-Qatari individual investors turned net profit takers to the tune of QR4.55mn against net buyers of QR5.52mn on Sunday.
The GCC (Gulf Cooperation Council) individual investors were net sellers to the extent of QR0.76mn compared with net buyers of QR0.4mn April 23.
The GCC institutions’ net buying weakened perceptibly to QR2.56mn against QR5.57mn the previous day.
However, local retail investors’ net buying increased influentially to QR25.82mn compared to QR14.76mn on Sunday.
Domestic institutions turned net buyers to the tune of QR2.45mn against net profit takers of QR21.88mn on April 23.
Total trade volumes rose 17% to 7.94mn shares, value by 41% to QR216.62mn and deals by 32% to 3,036.
The transport sector’s trade volume more than tripled to 1mn equities and value soared 67% to QR23.88mn on more than doubled transactions to 360.
There was 42% surge in the industrials sector’s trade volume to 0.51mn stocks, 86% in value to QR38.77mn and 10% in deals to 747.
The real estate sector’s trade volume expanded 35% to 2.01mn shares and value by 48% to QR36.25mn, whereas transactions were down 1% to 293.
The banks and financial services sector saw 18% increase in trade volume to 2.14mn equities, 40% in value to QR66.35mn and 34% in deals to 928.
The consumer goods sector’s trade volume was up 6% to 0.33mm stocks, value by 14% to QR23.08mn and transactions by 27% to 389.
However, the insurance sector reported 33% plunge in trade volume to 0.02mn shares, 32% in value to QR1.38mn and 43% in deals to 30.
The telecom sector’s trade volume plummeted 23% to 1.94mn equities but value shot up 11% to QR26.91mn on more than doubled transactions to 289.
In the debt market, there was no trading of treasury bills and government bonds.
