The Qatar Stock Exchange remained under the bearish spell for the third consecutive day on Thursday and lost 75 points to settle below 8,800 levels.
Strong selling – especially at the telecom, industrials and consumer goods counters – drove the 20-stock Qatar Index down 0.85% to 8,749.65 points.
Masraf Al Rayan and Doha Bank sponsored exchange traded funds, QATR and QETF, reported 5.64% and 0.62% declines respectively.
Increased net selling by foreign, domestic and Gulf funds rather dampened sentiments in the market, which is however up 2.65% year-to-date.
Selling was seen more pronounced within large cap segments in the bourse, whose capitalisation eroded 1.01% to QR482.39bn.
Trade turnover and volumes were on the increase in the market, where the telecom and banking sectors together accounted for 70% of the total volume.
The Total Return Index fell 0.85% to 15,415.91 points, the All Share Index by 0.09% to 2,559.4 points and the Al Rayan Islamic Index (Price) by 0.69% to 2,186.05 points.
The telecom index tanked 2.01%, industrials (1.17%), insurance (1.15%), consumer goods (0.98%), banks and financial services (0.94%) and realty (0.04%); while transport gained 0.29%.
More than 59% of the traded stocks were in the red with major losers being Ooredoo, Industries Qatar, Aamal Company, Mesaieed Petrochemical Holding, Gulf International Services, Qatar Insurance, Doha Bank, QNB, Woqod, Widam Food, Nakilat and Mazaya Qatar; whereas Dlala, Islamic Holding Group, Al Khaleej Takaful, Commercial Bank, Ahlibank and Milaha were among the gainers.
Non-Qatari institutions’ net profit-booking increased influentially to QR12.33mn against QR1.4mn on May 9.
Domestic institutions’ net selling strengthened considerably to QR12.03mn compared to QR8.98mn on Wednesday.
Gulf institutions’ net profit-booking grew perceptibly to QR3.58mn against QR2.72mn the previous day.
However, local individual investors’ net buying grew substantially to QR20.04mn compared to QR14.65mn on May 9.
Non-Qatari individuals turned net buyers to the tune of QR7.19mn against net sellers of QR1.28mn on Wednesday.
Gulf individuals were also net buyers to the extent of QR0.74mn compared with sellers of QR0.29mn the previous day.
Total trade volume more than doubled to 11mn shares, value soared 54% to QR237.2mn and transactions by 30% to 4,052.
The telecom sector’s trade volume more than tripled to 4.84mn equities and value more than doubled to QR54.46mn on 19% jump in deals to 567.
The insurance sector’s trade volume more than tripled to 0.4mn stocks and value more than quadrupled to QR13.25mn on almost-tripled-transactions to 283.
The banks and financial services sector saw a 77% surge in trade volume to 2.86mn shares, 92% in value to QR91.55mn and 43% in deals to 1,308.
The real estate sector’s trade volume expanded 45% to 0.97mn equities, value by 24% to QR14.22mn and transactions by 39% to 496.
The industrials sector’s trade volume increased 35% to 1.39mn stocks, while value fell 3% to QR37.41mn despite 32% higher transactions at 843.
There was a 17% rise in the consumer goods sector’s trade volume to 0.17mn shares but on a 6% fall in value to QR21.8mn and 13% in deals to 373.
However, the transport sector’s trade volume plummeted 42% to 0.26mn equities, value by 35% to QR4.5mn and transactions by 15% to 182.
In the debt market, there was no trading of treasury bills and sovereign bonds.
Masraf Al Rayan and Doha Bank sponsored exchange traded funds, QATR and QETF, reported 5.64% and 0.62% declines respectively.
Increased net selling by foreign, domestic and Gulf funds rather dampened sentiments in the market, which is however up 2.65% year-to-date.
Selling was seen more pronounced within large cap segments in the bourse, whose capitalisation eroded 1.01% to QR482.39bn.
Trade turnover and volumes were on the increase in the market, where the telecom and banking sectors together accounted for 70% of the total volume.
The Total Return Index fell 0.85% to 15,415.91 points, the All Share Index by 0.09% to 2,559.4 points and the Al Rayan Islamic Index (Price) by 0.69% to 2,186.05 points.
The telecom index tanked 2.01%, industrials (1.17%), insurance (1.15%), consumer goods (0.98%), banks and financial services (0.94%) and realty (0.04%); while transport gained 0.29%.
More than 59% of the traded stocks were in the red with major losers being Ooredoo, Industries Qatar, Aamal Company, Mesaieed Petrochemical Holding, Gulf International Services, Qatar Insurance, Doha Bank, QNB, Woqod, Widam Food, Nakilat and Mazaya Qatar; whereas Dlala, Islamic Holding Group, Al Khaleej Takaful, Commercial Bank, Ahlibank and Milaha were among the gainers.
Non-Qatari institutions’ net profit-booking increased influentially to QR12.33mn against QR1.4mn on May 9.
Domestic institutions’ net selling strengthened considerably to QR12.03mn compared to QR8.98mn on Wednesday.
Gulf institutions’ net profit-booking grew perceptibly to QR3.58mn against QR2.72mn the previous day.
However, local individual investors’ net buying grew substantially to QR20.04mn compared to QR14.65mn on May 9.
Non-Qatari individuals turned net buyers to the tune of QR7.19mn against net sellers of QR1.28mn on Wednesday.
Gulf individuals were also net buyers to the extent of QR0.74mn compared with sellers of QR0.29mn the previous day.
Total trade volume more than doubled to 11mn shares, value soared 54% to QR237.2mn and transactions by 30% to 4,052.
The telecom sector’s trade volume more than tripled to 4.84mn equities and value more than doubled to QR54.46mn on 19% jump in deals to 567.
The insurance sector’s trade volume more than tripled to 0.4mn stocks and value more than quadrupled to QR13.25mn on almost-tripled-transactions to 283.
The banks and financial services sector saw a 77% surge in trade volume to 2.86mn shares, 92% in value to QR91.55mn and 43% in deals to 1,308.
The real estate sector’s trade volume expanded 45% to 0.97mn equities, value by 24% to QR14.22mn and transactions by 39% to 496.
The industrials sector’s trade volume increased 35% to 1.39mn stocks, while value fell 3% to QR37.41mn despite 32% higher transactions at 843.
There was a 17% rise in the consumer goods sector’s trade volume to 0.17mn shares but on a 6% fall in value to QR21.8mn and 13% in deals to 373.
However, the transport sector’s trade volume plummeted 42% to 0.26mn equities, value by 35% to QR4.5mn and transactions by 15% to 182.
In the debt market, there was no trading of treasury bills and sovereign bonds.
