Ezdan Holding, which has been temporarily taken off the indices, on Tuesday hit the lower circuit filter of 10% to the overall drag of the Qatar Stock Exchange, which, however, remained above 10,000 levels.
Increased net selling by foreign institutions and lower buying support from their domestic counterparts led the 20-stock Qatar Index shrink another 0.48% to 10,063.64 points, which is down 3.58% year-to-date.
The market was largely on a selling mode in the first 90 minutes, thus taking the index to a low of less than 10,000 points, after which it was on consistent gains. However, the initial declines were strong enough to the overall lead of the index to settle 49 points lower against the previous close.
Islamic stocks were seen declining faster than the main index on the market, which also saw non-Qatari retail investors turn bearish.
Selling was skewed towards mid, micro and small cap segments on the bourse, which, however, saw bullish grip from local retail investors and lower net profit booking by Gulf institutions and individuals.
Trade turnover and volumes were on the decline on the market, where banking, real estate and telecom sectors together accounted for about 91% of the total volumes.
Market capitalisation eroded QR6bn or 1.1% to QR537.99bn as mid, micro, small and large cap equities declined 1.1%, 0.67%, 0.66% and 0.5% respectively.
The Total Return Index shed 0.48% to 16,876.13 points, All Share Index by 1.36% to 2,828.56 points and Al Rayan Islamic Index by 0.62% to 4,009.83 points.
The realty index plunged 6.32%, transport (1.07%), telecom (0.73%), consumer goods (0.64%), banks and financial services (0.52%), industrials (0.29%) and insurance (0.07%).
More than 64% of the stocks were in the red with major losers being Ezdan, United Development Company, Nakilat, Gulf Warehousing, QNB, Qatar Islamic Bank, Doha Bank, Qatar First Bank, Qatari Investors Group, Mesaieed Petrochemical Holding, Gulf International Services, Ooredoo, Nakilat and Medicare Group; even as Aamal Company, Vodafone Qatar and Mazaya Qatar were among the gainers.
Non-Qatari institutions’ net selling strengthened perceptibly to QR15.96mn compared to QR8.34mn the previous day.
Non-Qatari retail investors turned net profit takers to the extent of QR5.59mn against net buyers of QR1.59mn on May 29.
Domestic institutions’ net buying weakened substantially to QR28.62mn compared to QR83.19mn on Monday.
However, local retail investors turned net buyers to the tune of QR14.75mn against net sellers of QR39.48mn the previous day.
The GCC (Gulf Cooperation Council) funds’ net selling weakened considerably to QR20.81mn compared to QR34.55mn on May 29.
The GCC individuals’ net profit booking declined influentially to QR0.95mn against QR2.54mn on Monday.
Total trade volumes fell 8% to 13.68mn shares and value by 10% to QR327.14mn, while deals were up 2% to 3,561.
The banks and financial services sector saw 42% plunge in trade volume to 5.13mn equities, 23% in value to QR150.8mn and 18% in transactions to 1,252.
The transport sector’s trade volume plummeted 26% to 0.54mn stocks, value by 7% to QR26.86mn and deals by 27% to 225.
There was 26% shrinkage in the industrials sector’s trade volume to 0.32mn shares and 51% in value to QR19.91mn but on 16% rise in transactions to 313.
The consumer goods sector’s trade volume tanked 23% to 0.2mn equities, value by 1% to QR14.52mn and deals by 21% to 239.
However, the market witnessed 78% surge in the real estate sector’s trade volume to 4.21mn stocks, 53% in value to QR64.22mn and 50% in transactions to 1,092.
The insurance sector’s trade volume soared 50% to 0.21mn shares, value by 52% to QR14.42mn and deals by 33% to 81.
The telecom sector reported 42% expansion in trade volume to 3.09mn equities, 23% in value to QR36.4mn and 23% in transactions to 359.
In the debt market, there was no trading of treasury bills and government bonds.
The market was largely on a selling mode in the first 90 minutes, thus taking the index to a low of less than 10,000 points, after which it was on consistent gains. However, the initial declines were strong enough to the overall lead of the index to settle 49 points lower against the previous close.
Islamic stocks were seen declining faster than the main index on the market, which also saw non-Qatari retail investors turn bearish.
Selling was skewed towards mid, micro and small cap segments on the bourse, which, however, saw bullish grip from local retail investors and lower net profit booking by Gulf institutions and individuals.
Trade turnover and volumes were on the decline on the market, where banking, real estate and telecom sectors together accounted for about 91% of the total volumes.
Market capitalisation eroded QR6bn or 1.1% to QR537.99bn as mid, micro, small and large cap equities declined 1.1%, 0.67%, 0.66% and 0.5% respectively.
The Total Return Index shed 0.48% to 16,876.13 points, All Share Index by 1.36% to 2,828.56 points and Al Rayan Islamic Index by 0.62% to 4,009.83 points.
The realty index plunged 6.32%, transport (1.07%), telecom (0.73%), consumer goods (0.64%), banks and financial services (0.52%), industrials (0.29%) and insurance (0.07%).
More than 64% of the stocks were in the red with major losers being Ezdan, United Development Company, Nakilat, Gulf Warehousing, QNB, Qatar Islamic Bank, Doha Bank, Qatar First Bank, Qatari Investors Group, Mesaieed Petrochemical Holding, Gulf International Services, Ooredoo, Nakilat and Medicare Group; even as Aamal Company, Vodafone Qatar and Mazaya Qatar were among the gainers.
Non-Qatari institutions’ net selling strengthened perceptibly to QR15.96mn compared to QR8.34mn the previous day.
Non-Qatari retail investors turned net profit takers to the extent of QR5.59mn against net buyers of QR1.59mn on May 29.
Domestic institutions’ net buying weakened substantially to QR28.62mn compared to QR83.19mn on Monday.
However, local retail investors turned net buyers to the tune of QR14.75mn against net sellers of QR39.48mn the previous day.
The GCC (Gulf Cooperation Council) funds’ net selling weakened considerably to QR20.81mn compared to QR34.55mn on May 29.
The GCC individuals’ net profit booking declined influentially to QR0.95mn against QR2.54mn on Monday.
Total trade volumes fell 8% to 13.68mn shares and value by 10% to QR327.14mn, while deals were up 2% to 3,561.
The banks and financial services sector saw 42% plunge in trade volume to 5.13mn equities, 23% in value to QR150.8mn and 18% in transactions to 1,252.
The transport sector’s trade volume plummeted 26% to 0.54mn stocks, value by 7% to QR26.86mn and deals by 27% to 225.
There was 26% shrinkage in the industrials sector’s trade volume to 0.32mn shares and 51% in value to QR19.91mn but on 16% rise in transactions to 313.
The consumer goods sector’s trade volume tanked 23% to 0.2mn equities, value by 1% to QR14.52mn and deals by 21% to 239.
However, the market witnessed 78% surge in the real estate sector’s trade volume to 4.21mn stocks, 53% in value to QR64.22mn and 50% in transactions to 1,092.
The insurance sector’s trade volume soared 50% to 0.21mn shares, value by 52% to QR14.42mn and deals by 33% to 81.
The telecom sector reported 42% expansion in trade volume to 3.09mn equities, 23% in value to QR36.4mn and 23% in transactions to 359.
In the debt market, there was no trading of treasury bills and government bonds.
