The Qatar Stock Exchange Sunday opened the week weak, but remained above 9,000 points, despite buying interests within the insurance, telecom and industrials counters.
Foreign funds turned bearish and there was increased net selling by local as well as non-Qatari retail investors as the 20-stock Qatar Index shed 0.18% higher at 9,080.13 points.
Islamic stocks were seen declining faster than the other indices in the market, which is up 6.53% year-to-date.
However, domestic funds turned bullish on the bourse, whose capitalisation was down 0.08% to QR486.97bn.
Trade turnover and volumes were on the decline on the bourse, where banking and real estate sectors together accounted for more than 64% of the total volume.
Al Rayan Islamic Index declined 0.24% to 3,669.34 points, Total Return Index by 0.18% to 15,405.3 points and All Share Index by 0.22% to 2,548.27 points.
The realty index shrank 1.28%, banks and financial services (0.49%), consumer goods (0.31%) and transport (0.18%); whereas insurance gained 1.69%, telecom (0.51%) and industrials (0.35%).
About 47% of the stocks were in the red with major losers being Commercial Bank, Ezdan, Widam Food, Mazaya Qatar, Qatar Islamic Bank, Masraf Al Rayan, Mesaieed Petrochemical Holding and Nakilat; even as Ahli Bank, Al Khaliji, Qatar Electricity and Water, Qatari Investors Group, Qatar Insurance, Ooredoo and Gulf Warehousing were among the gainers.
Non-Qatari institutions turned net sellers to the tune of QR3.85mn against net buyers of QR2.13mn on February 22.
Local individuals’ net profit booking grew influentially to QR4.78mn compared to QR2.21mn the previous trading day.
Non-Qatari individuals’ net selling strengthened considerably to QR4.71mn against QR1.82mn last Thursday.
The Gulf funds’ net buying weakened substantially to QR0.81mn compared to QR3.08mn on February 22.
The Gulf individual investors’ net buying declined perceptibly to QR0.43mn against QR1.04mn the previous trading day.
However, domestic institutions turned net buyers to the extent of QR12.11mn compared with net sellers of QR2.22mn last Thursday.
Total trade volume fell 27% to 4.14mn shares, value by 16% to QR113.47mn and transactions by 14% to 1,946.
The banks and financial services sector saw 57% plunge in trade volume to 1.42mn equities, 54% in value to QR30.73mn and 47% in deals to 489.
The consumer goods sector’s trade volume plummeted 20% to 0.12mn stocks and value by 29% to QR7.55mn but on 10% jump in transactions to 169.
The telecom sector’s trade volume declined marginally to 0.11mn shares, value by 47% to QR2.6mn and deals by 6% to 110.
However, the transport sector’s trade volume more than doubled to 0.13mn equities and value also more than doubled to QR4.74mn but on 14% fall in transactions to 61.
The insurance sector’s trade volume doubled to 0.18mn stocks and value more than doubled to QR8.88mn on 68% expansion in deals to 114.
There was 19% surge in the real estate sector’s trade volume to 1.25mn shares and 41% in value to QR25.87mn but on 21% slump in transactions to 341.
The industrials sector’s trade volume was up 3% to 0.91mn equities, value by 15% to QR33.1mn and deals by 31% to 662.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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