Increased net selling by local and non-Qatari retail investors and Gulf institutions’ bearish outlook led the 20-stock Qatar Index decline 0.25% to 10,064.35 points.
The market witnessed sporadic gains intermittently but was by and large on the decline in the first 30 minutes to touch a low of about 10,040 points, after which it was on a strengthening mode for the remainder of the session. However, it overall closed 26 points lower against the previous close.
Small and midcap segments witnessed higher offloading in the bourse, whose year-to-date losses swelled to 3.57%.
Islamic stocks were seen declining relatively faster than the main index as well as other indices in the market, where Gulf individuals’ net buying weakened.
However, domestic institutions were increasingly net buyers and their foreign counterparts turned bullish.
Trade turnover declined amidst higher volumes in the bourse, where telecom, banking and real estate sectors together accounted for about 90% of the total volumes.
Market capitalisation was down QR36mn or 0.07% to QR542.37bn as small, mid and large cap stocks fell 0.25%, 0.23% and 0.01% respectively; while microcaps were up 0.12%.
The Total Return Index shrank 0.25% to 16,877.32 points, All Share Index by 0.22% to 2,865.56 points and Al Rayan Islamic Index by 0.31% to 4,033.26 points.
The consumer goods sector’s index plummeted 1.58%, realty (0.94%), insurance (0.88%), transport (0.53%) and telecom (0.14%); while industrials and banks and financial services gained 0.33% and 0.13% respectively.
About 53% of the stocks were in the red with major losers being Ezdan, QIIB, Qatar Islamic Bank, Medicare Group, Salam International, Woqod, Widam Food, Aamal Company, Qatar Insurance, Barwa, Vodafone Qatar, Nakilat and Milaha.
Nevertheless, QNB, Commercial Bank, Doha Bank, al khaliji, Qatar Industrial Manufacturing, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Islamic Insurance and Mazaya Qatar.
Local retail investors’ net profit booking strengthened substantially to QR49.55mn against QR5.31mn on April 27.
Non-Qatari retail investors’ net selling increased to QR3.38mn compared to QR1.83mn the previous trading day.
The GCC (Gulf Cooperation Council) funds turned net sellers to the tune of QR3.18mn against net buyers of QR7.97mn last Thursday.
The GCC individual investors’ net buying weakened perceptibly to QR0.45mn compared to QR3.21mn on April 27.
However, domestic institutions’ net buying rose considerably to QR53.31mn against QR21.47mn the previous trading day.
Non-Qatari institutions turned net buyers to the extent of QR2.33mn compared with net sellers of QR25.51mn last Thursday.
Total trade volumes rose 19% to 11.76mn shares, while value fell 19% to QR223.91mn and deals by 35% to 2,383.
There was 67% plunge in the transport sector’s trade volume to 0.1mn equities, 72% in value to QR2.36mn and 7% in transactions to 92.
The consumer goods sector’s trade volume plummeted 24% to 0.26mm stocks and value by 40% to QR15.06mn, whereas deals were up 1% to 370.
The real estate sector reported 7% shrinkage in trade volume to 2.77mn shares, 13% in value to QR41.07mn and 34% in transactions to 344.
The banks and financial services sector’s trade volume was down 3% to 3.23mn equities, value by 23% to QR96.69mn and deals by 45% to 804.
However, the telecom sector’s trade volume more than doubled to 4.53mn stocks and value soared 60% to QR43.25mn but on 46% decline in transactions to 175.
The market witnessed 8% increase in the industrials sector’s trade volume to 0.85mn shares but on 40% fall in value to QR23.31mn and 33% in deals to 572.
Although the insurance sector’s trade volume was flat at 0.04mn equities, value shrank 20% to QR2.18mn and transactions by 40% to 26.
In the debt market, there was no trading of treasury bills and government bonds.
