The Qatar Stock Exchange Sunday opened the week weak as its key index plunged 131 points, mainly dragged by the telecom, consumer goods and banking sectors.
The Arab individuals were seen net profit takers as the 20-stock Qatar Index settled 1.11% lower at 11,735.84 points although it touched an intraday high of 11,843 points.
More than 82% of the traded constituents were in the red in the market, whose year-to-date gains truncated to 0.95%.
The foreign institutions’ substantially weakened net selling had its influence in the main bourse, whose capitalisation saw QR6.29bn or 0.95% decline to QR657.14bn, mainly on the back of mid and small cap segments.
The Islamic index was seen declining slower than the main index in the main market, which saw a total of 0.35mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.14mn changed hands across 38 deals.
Trade turnover and volumes were on the decline in both the main and venture markets.
The local individuals’ net buying was seen weakening in the main bourse, which saw no trading of sovereign bonds.
However, the Gulf individual investors were seen bullish in the main market, which saw no trading of treasury bills.
The Total Return Index shrank 1.11%, All Share Index by 1.03% and Al Rayan Islamic Index (Price) by 1.08%.
The telecom sector index tanked 2.37%, consumer goods and services (1.72%), banks and financial services (1.23%), industrials (0.72%) and real estate (0.47%); while transport and insurance gained 0.38% and 0.03% respectively.
Major shakers in the main market included Qatar General Insurance and Reinsurance, Estithmar Holding, Ooredoo, Dlala, Doha Insurance, Commercial Bank, QIIB, Woqod, Gulf International Services and Qamco. In the venture market, Mekdam Holding saw its shares depreciate in value.
Nevertheless, Ezdan, Qatar Islamic Insurance, Qatar Insurance, Qatar Oman Investment and Nakilat were among the gainers in the main market.
The Arab retail investors turned net sellers to the tune of QR3.26mn against net buyers of QR2.84mn on November 24.
The foreign institutions’ net buying fell substantially to QR0.25mn compared to QR30.53mn the previous day.
The local retail investors’ net buying shrank noticeably to QR12.65mn against QR26.97mn last Thursday.
The Arab institutions’ net buying eased marginally to QR0.04mn compared to QR0.1mn on November 24.
However, the Gulf individuals turned net buyers to the extent of QR1.72mn against net sellers of QR0.12mn the previous day.
The Gulf institutions were net buyers to the tune of QR0.55mn compared with net sellers of QR4.4mn last Thursday.
The domestic institutions’ net selling weakened drastically to QR11.24mn against QR40.29mn on November 24.
The foreign individuals’ net profit booking shrank noticeably to QR0.7mn compared to QR30.53mn the previous day.
Total trade volume in the main market fell 49% to 69.87mn shares, value by 53% to QR219.48mn and deals by 42% to 8,667.
The venture market saw 30% shrinkage in trade volumes to 0.07mn equities, 32% in value to QR0.52mn and 34% in transactions to 47.
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