The Qatar Exchange yesterday opened the week weak, snapping three days of a bull-run, despite net buying support from foreign institutions.
Large, mid and small cap equities came under selling pressure as the 20-stock QE Index (based on price data) fell 0.57% to 8,640.61 points.
Banking stocks were hard hit in the market, which is, up 3.37% year-to-date.
The 20-stock Total Return Index lost 0.57% to 11,693.86 points, the All Share Index (comprising wider constituents) by 0.64% to 2,076.93 points and the Al Rayan Islamic Index by 0.31% to 2,520.65 points.
All the three indices factored in dividend income as well.
Under the All Share Index category, the index of banks and financial services shrank 1.09%, followed by industrials (0.39%), realty (0.33%), insurance (0.24%), telecom (0.15%), transport (0.10%) and consumer goods (0.09%).
Major losers included QNB, Commercialbank (Cb), Masraf Al Rayan, Industries Qatar and United Development Company (UDC).
Market capitalisation shed 0.39%, or about QR2bn, to QR473.69bn with large, mid and small cap equities notably losing 0.81%, 0.39% and 0.28% respectively.
Of the 42 stocks, only 13 advanced, while 20 declined, seven were unchanged and two were not traded.
Qatari individual investors’ net profit-booking sunk to 5.63% or QR6.78mn. A higher 39.16% of them purchased equities compared to 37.25% last Thursday, while a lower 44.79% sold against 46.92%.
Non-Qatari retail investors turned net sellers to the tune of 1.12% or QR1.35mn. A lower 12.67% of them were into buying against 16.78% the previous trading day and a lower 13.79% compared to 16.26%.
Domestic institutions turned net profit-takers to the extent of 3.43% or QR4.13mn. A lower 18.06% of them were into buying against 26.05% last Thursday and a marginally lower 21.49% of them into selling compared to 22.61%.
Foreign institutions’ net buying surged to 10.18% or QR12.26mn. A much higher 30.11% of them bought equities compared to 19.91% the previous day although a higher 19.93% offloaded against 14.20%.
Total trading volume fell 33% to 2.51mn shares, value by 34% to QR120.47mn and deals by 25% to 2,017.
The consumer goods and services sector’s trading volume plummeted 76% to 0.09mn shares, value by 69% to QR7.43mn and transactions by 67% to 123.
The insurance sector’s trading volume plunged 52% to 0.11mn shares, value by 54% to QR7.19mn and deals by 34% to 99.
The banks and financial services sector’s trading volume tanked 49% to 0.92mn shares, value by 38% to QR57.68mn and transactions by 34% to 841.
The telecom sector’s trading volume tanked 46% to 0.14mn shares and value by 22% to QR7.07mn while deals gained 24% to 136.
The industrials sector’s trading volume declined 37% to 0.27mn shares, value by 22% to QR20.69mn and transactions by 19% to 290.
However, the transport sector’s trading volume more than doubled to 0.55mn shares, value soared 48% to QR12.76mn and deals by 63% to 335.
The real estate sector’s trading volume gained 18% to 0.45mn shares, while value lost 2% to QR7.65mn and transactions by 4% to 193.
Actively traded stocks (in terms of volume) were Nakilat (446,035 shares); UDC (327,399); Rayan (259,778); QNB (184,874) and Cb (109,195).