By Santhosh V Perumal/Business Reporter

Profit-booking gripped the Qatar Stock Exchange for the second day yesterday, mainly dragged by transport, real estate, telecom, consumer goods and banking equities.

Lower buying interests from domestic institutions led the 20-stock Qatar Index (based on price data) shed 0.3% to 12,894.93 points.

However, foreign institutions were seen bullish in the market, which is up 24.23% year-to-date.

The index that tracks Shariah-principled stocks was seen losing faster than the other indices in the bourse where trading activities were on the fall.

Overall, volumes were mainly skewed towards telecom, realty, banking and transport equities.

The 20-stock Total Return Index fell 0.3% to 19,229.13 points, the All Share Index (with wider constituents) by 0.43% to 3,291.17 and the Al Rayan Islamic Index by 0.44% to 4,272.49.

All the three indices factored in dividend income as well.

Transport stocks shrank 1.64%, followed by realty (1.55%), telecom (1.54%), consumer goods (1.08%), insurance (1.04%) and banks and financial services (0.57%); whereas industrials gained 0.89%.

About 70% of the stocks were in the red with major losers being QNB, Nakilat, Barwa, Mazaya Qatar, Ezdan, United Development Company, Vodafone Qatar, Ooredoo, Aamal Company, Qatar Islamic Bank, al khaliji, Mesaieed Petrochemical Holding Company and Salam International Investment.

However, Industries Qatar, Gulf International Services, Milaha and Qatari Investors Group bucked the trend.

Market capitalisation eroded 0.38%, or about QR3bn, to QR729.82bn.

Domestic institutions turned net sellers to the tune of QR47.21mn compared with net buyers of QR98.28mn the previous day.

Qatari retail investors’ net selling fell to QR38.58mn against QR56.6mn on Tuesday.

However, foreign institutions turned net buyers to the extent of QR57.95mn compared with net sellers of QR6.72mn the previous day.

Non-Qatari individual investors were also net buyers to the tune of QR27.75mn against net profit takers of QR34.87mn on Tuesday.

Total trading volume fell 15% to 21.69mn stocks, value by 14% to QR846mn and transactions by 3% to 9,806.

The real estate sector’s trading volume plummeted 50% to 4.87mn equities, value by 45% to QR134.89mn and deals by 44% to 1,488.

There was a 46% plunge in the industrials sector’s trading volume to 2.72mn shares and 45% in value to QR189.46mn but transactions rose 8% to 2,810.

The insurance sector saw its trading volume decline 4% to 0.24mn stocks but value rose 13% to QR11.93mn. Deals were down 4% to 186.

The market witnessed a 2% fall in consumer goods sector’s trading volume to 1.89mn equities, while value more than doubled to QR156.66mn and transactions expanded 34% to 1,315.

However, the telecom sector’s trading volume shot up 75% to 5.6mn shares, value by 57% to QR116.72mn and deals by 37% to 1,271.

The transport sector saw its trading volume surge 42% to 3.09mn stocks, value by 49% to QR89.21mn and transactions by 11% to 772.

The banks and financial services sector reported a 1% gain in trading volume to 3.29mn equities but on a 19% slide in value to QR147.14mn and 4% in deals to 1,964.

In the debt market, a total of 27,500 treasury bills valued at QR273.77mn changed hands across six transactions, while there was no trading of government bonds.

 

UAE, Egypt markets retreat

Bourses in the UAE and Egypt pulled back yesterday as investors booked profits after solid gains and a strong earnings season.

Dubai’s benchmark fell 1.3% after rising in the four previous sessions, as most real estate stocks retreated while trading volume slightly increased compared with Tuesday.

Emaar Properties slid 0.5%, Deyaar Development shed 3.0% and Union Properties fell 4.0%, even after reporting an eight-fold jump in first-quarter profit. All three stocks have made gains in the high double digits or even triple digits this year.

Abu Dhabi’s bourse slid 0.5%, largely on the banking sector.

Egypt’s bourse slipped 0.5% as investors sold some of last month’s top-performing stocks. Shares in Global Telecom fell 3.7% and developer Talat Mostafa Group was down 2.1%.

Developer SODIC topped the daily trading volume and was also the biggest loser as its shares fell 4.2%. The company’s shares jumped last month after it signed a dispute settlement with Egypt’s government.

Elsewhere in the Gulf, Saudi Arabia’s index added 0.01% to 9,745 points; Kuwait’s measure gained 0.3% to 7,419 points; Bahrain’s index rose 0.2% to 1,469 points, while Oman’s benchmark rose 0.3% to 6,780 points.