The Qatar Stock Exchange (QSE) on Sunday opened the week weak mainly on strong selling in the telecom and banking counters.
The 20-stock Qatar Index declined 0.39% to 8,856.9 points as foreign funds’ net buying interests weakened substantially.
Doha Bank sponsored exchange traded fund QETF declined 0.62%; while Masraf Al Rayan sponsored QATR reported 0.37% gains.
There were also weakened net buying interests of local, Gulf and non-Qatari retail investors in the market, which is however up 3.81% year-to-date.
Selling was more pronounced within micro and large cap segments in the bourse, whose capitalisation fell 0.41% to QR489.53bn.
Trade turnover shrank amidst higher volumes in the market, where industrials, banking and telecom sectors together accounted for about 79% of the total volume.
The Total Return Index shrank 0.39% to 15,604.88 points, All Share Index by 0.32% to 2,594.97 points and Al Rayan Islamic Index (Price) by 0.26% to 2,177.36 points.
The telecom index declined 1.33%, banks and financial services (0.65%) and industrials (0.37%); whereas transport gained 1.4%, insurance (0.32%), realty (0.23%) and consumer goods (0.04%).
About 58% of the stocks were in the red with major shakers being Vodafone Qatar, Mazaya Qatar, Gulf International Services, QNB, Alijarah Holding, Qatari German Company for Medical Devices, Medicare Group, Qatar First Bank and Industries Qatar; whereas Nakilat, Milaha, QIIB, Widam Food and United Development Company were among the gainers.
Non-Qatari funds’ net buying weakened substantially to QR17.39mn against QR120.31mn the previous trading day.
Local individual investors’ net buying declined marginally to QR5.12mn compared to QR5.37mn on May 17.
Non-Qatari individual investors’ net buying shrank perceptibly to QR2.02mn against QR3.4mn last Thursday.
The Gulf individuals’ net buying eased to QR0.24mn compared to QR1.11mn the previous trading day.
However, the domestic institutions’ net profit booking fell considerably to QR17.02mn against QR100.64mn on May 17.
The Gulf institutions’ net selling declined influentially to QR7.76mn compared to QR29.59mn last Thursday.
Total trade volume grew 23% to 7.75mn shares, while value fell 55% to QR185.64mn and transactions by 32% to 2,607.
The transport sector reported 48% plunge in trade volume to 0.38mn equities, 22% in value to QR8.55mn and 48% in deals to 172.
The banks and financial services sector’s trade volume plummeted 45% to 1.67mn stocks, value by 77% to QR73.95mn and transactions by 37% to 889.
The market witnessed 24% shrinkage in the insurance sector’s trade volume to 0.25mn shares, 26% in value to QR8.58mn and 61% in deals to 79. The real estate sector’s trade volume tanked 13% to 0.77mn equities, value by 44% to QR7.3mn and transactions by 38% to 325.
However, the telecom sector’s trade volume grew more than five-fold to 1.47mn stocks and value soared 49% to QR15.52mn, while deals declined 34% to 259.
The industrials sector’s trade volume more than tripled to 2.97mn shares and value grew 55% to QR62.02mn, even as transactions were flat at 705. There was 47% expansion in the consumer goods sector’s trade volume to 0.25mn equities and 18% in value to QR9.72mn but on 32% fall in deals to 178.
In the debt market, there was no trading of treasury bills and sovereign bonds.