The Qatar Stock Exchange on Sunday witnessed its key barometer reach near 9,560 points intra-day but closed marginally lower at 9,500 levels despite buying support from foreign institutions.
Non-Qatari individual investors were seen net buyers amidst a 0.45% fall in the 20-stock Qatar Index to 9,499.75 points.
There was also weakened net selling pressure from Gulf institutions in the market, whose year-to-date losses were at 8.98%.
The telecom counter witnessed robust demand in the bourse, which, however, saw lower buying support from domestic institutions.
Islamic stocks were seen declining faster than the main index and other indices in the market, which also saw increased net selling pressure from local and Gulf retail investors.
Opening strong near 9,560 points, the market then treaded a cautious path for the next 30 minutes, after which there was selling pressure to drift near 9,530 points. Thereafter, a slow buying mode drove the index up for next 60 minutes to reach near 9,560 points. Profit-booking, especially strongly in the last few minutes, led the index to overall settle 43 points lower.
Market capitalisation fell 0.5% to QR514.43bn as large, small, mid and microcap scrips gained 0.57%, 0.34%, 0.31% and 0.04% respectively.
Trade turnover and volumes were on the decline in the bourse, where industrials, telecom and banking sectors together accounted for more than three-fourth of the total volumes.
The Total Return Index fell 0.45% to 15,930.51 points, the All Share Index by 0.5% to 2,702.96 points and the Al Rayan Islamic Index by 0.66% to 3,767.73 points.
The telecom index gained 0.49%, while banks and financial services declined 0.85%, realty (0.67%), consumer goods (0.63%), transport (0.25%) and industrials (0.04%). The insurance index was rather flat.
Major gainers included Ooredoo, Gulf International Services, Nakilat, Alijarah Holding, Qatar National Cement, Industries Qatar, Ahli Bank, Qatari German Company for Medical Devices, Qatar Oman Investment and Islamic Holding Group.
Nevertheless, QNB, Masraf Al Rayan, Qatar First Bank, Aamal Company, Mesaieed Petrochemical Holding, Ezdan, Barwa, Gulf Warehousing and Milaha were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR7.4mn compared with net sellers of QR21.66mn on July 20.
Non-Qatari retail investors also were net buyers to the extent of QR0.86mn against net sellers of QR0.51mn the previous trading day.
The GCC (Gulf Cooperation Council) funds’ net selling weakened influentially to QR0.55mn compared to QR7.9mn last Thursday.
However, domestic institutions’ net buying weakened substantially to QR2.08mn against QR38.42mn on July 20.
Local retail investors’ net selling increased marginally to QR8.45mn compared to QR7.62mn the previous trading day.
The GCC individuals’ net profit booking also shot up to QR1.34mn against QR0.76mn last Thursday.
Total trade volumes fell 36% to 7.31mn shares, value by 31% to QR194.65mn and deals by 36% to 2,671.
There was an 84% plunge in the transport sector’s trade volume to 0.45mn equities, 77% in value to QR16.02mn and 60% in transactions to 381.
The real estate sector’s trade volume plummeted 60% to 1.01mn stocks, value by 57% to QR14.24mn and deals by 55% to 217.
The banks and financial services sector saw a 44% shrinkage in trade volume to 1.34mn shares, 41% in value to QR43.21mn and 45% in transactions to 671.
The telecom sector’s trade volume tanked 11% to 1.48mn equities, value by 35% to QR19.44mn and deals by 48% to 189.
The market witnessed a 6% fall in the consumer goods sector’s trade volume to 0.34mn stocks but on a 25% increase in value to QR29.11mn despite 4% lower transactions to 321.
However, the industrials sector’s trade volume soared 65% to 2.69mn shares, value by 32% to QR72.55mn and deals by 16% to 889.
The insurance sector saw a mere 1,463 equities valued at QR0.09mn change hands across three transactions.
In the debt market, there was no trading of treasury bills and government bonds.
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