By Santhosh V Perumal
The Qatar Stock Exchange opened the week weak yesterday, extending the bearish run for the sixth consecutive session, mainly dragged by telecom, real estate and industrials stocks.
Foreign institutions’ increased net selling led the 20-stock Qatar Index (based on price data) to knock off 0.29% to 13,835.01 points as volumes also shrank.
Mid and small cap equities witnessed stronger profit-booking in the market, which is, however, up 33.29% year-to-date.
The index that tracks Shariah-principled stock was seen melting faster than the other indices in the bourse, where trading volume was largely skewed towards realty and banking stocks.
The Total Return Index fell 0.29% to 20,634.78 points, the All Share Index by 0.23% to 3,498.35 points and the Al Rayan Islamic Index by 0.4% to 4,676.73 points.
However, domestic institutions’ bullish grip strengthened in the bourse, where capitalisation eroded 0.13%, or about QR1bn, to QR738.3bn.
Telecom stocks shrank 1.43%, followed by realty (0.31%), industrials (0.26%), transport (0.16%), consumer goods (0.13%), banks and financial services (0.06%) and insurance (0.04%).
Mid, small, micro and large cap equities fell 0.38%, 0.3%, 0.14% and 0.11% respectively.
Major shakers included Ooredoo, Vodafone Qatar, International Islamic, Barwa, Mesaieed Petrochemical Holding and Gulf International Services.
However, QNB, Ezdan, United Development Company and Mazaya Qatar bucked the trend.
Ezdan, UDC and Masraf Al Rayan were among the most active in terms of volume and value respectively.
Foreign institutions’ net profit-booking rose to QR50.34mn compared to QR31.28mn last Thursday.
Qatari retail investors’ net selling fell to QR3.28mn against QR9.75mn the previous trading day.
Domestic institutions’ net buying surged to QR43.45mn compared to QR23.72mn last Thursday.
Non-Qatari individual investors’ net buying fell to QR10.19mn against QR17.3mn the previous trading day.
Total trading volume shrank 37% to 6.08mn shares, value by 32% to QR277.65mn and transactions by 21% to 3,204.
The insurance sector’s trade volume plummeted 50% to 0.07mn equities, value by 57% to QR3.07mn and deals by 47% to 72.
The real estate sector witnessed a 49% plunge in trade volume to 2.77mn stocks, value by 56% to QR60.53mn and transactions by 29% to 662.
The banks and financial services sector reported a 39% decline in trade volume to 1.53mn shares, 35% in value to QR112.7mn and 31% in deals to 1,029.
The telecom sector’s trade volume contracted 35% to 0.43mn equities, value by 47% to QR11.94mn and transactions by 62% to 127.
There was a 14% fall in the transport sector’s trade volume to 0.19mn stocks but value rose 24% to QR9.11mn. Deals were down 13% to 129.
However, the market witnessed a 56% surge in the industrials sector’s trade volume to 0.7mn shares, value by 83% to QR63.69mn and transactions by 28% to 995.
The consumer goods sector’s trade volume expanded 50% to 0.39mn equities but there was 23% shrinkage in value to QR16.6mn and 12% in deals to 190.
In the debt market, there was no trading of treasury bills and government bonds.