Qatar Stock Exchange on Sunday opened the year 2016 with a big fall of 116 points as domestic institutions turned net sellers.
Profit booking was intense -- especially in the industrials, telecom and transport sectors – as the 20-stock Qatar Index plunged 1.11% to 10,313.74 points.
The index that tracks Shariah-principled stocks was seen melting faster than the other indices in the market, which is also down 1.1% year-to-date.
Micro and large cap equities witnessed larger selling pressure in the market, industrials, banking and telecom sectors together accounted for about 72% of the total trading volume.
However, local, Gulf and foreign retail investors as well as foreign institutions turned bullish in the bourse, where the overall trading volumes were on the decline.
Market capitalisation eroded 1.1% or more than QR6bn to QR547.1bn with micro and large cap equities melting 2.15% and 1.18%; while mid and small caps gained 0.78% and 0.76% respectively.
The Total Return Index fell 1.11% to 16,031.23 points and All Share Index by 0.97% to 2,749.98 points and Al Rayan Islamic Index by 1.26% to 3,807.34 points.
Industrials stocks sunk 2.05%, telecom (1.57%), transport (1.17%), banks and financial institutions (0.79%), consumer goods (0.61%) and real estate (0.58%); whereas insurance gained 1.39%.
About 79% of the traded stocks were in the red with major losers being QNB, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Vodafone Qatar, Ooredoo, Nakilat, Milaha, Qatar Islamic Bank, Doha Bank, Masraf Al Rayan, Dlala, Islamic Holding Group, United Development Company, Ezdan, Mazaya Qatar, Qatar Islamic Insurance and Salam International Investment.
Domestic institutions turned net sellers to the extent of QR21.11mn against net buyers of QR58.95mn on December 31.
However, non-Qatari institutions turned net buyers to the tune of QR3.82mn compared with net sellers of QR2.43mn last Thursday.
The GCC (Gulf Cooperation Council) institutions’ net profit booking weakened to QR0.38mn against QR11.54mn the previous trading day.
Local retail investors turned net buyers to the extent of QR8.55mn compared with net sellers of QR20.1mn on December 31.
The GCC individual investors were also net buyers to the tune of QR0.09mn against net profit takers of QR11.54mn last Thursday.
Non-Qatari individual investors turned net buyers to the extent of QR8.73mn compared with net sellers of QR13.36mn the previous trading day.
Total trade volume fell 62% to 2.01mn shares, value by 68% to QR67.43mn and deals by 51% to 1,321.
There was 81% plunge in the real estate sector’s trade volume to 0.25mn equities, 86% in value to QR4.2mn and 69% in transactions to 138.
The transport sector’s trade volume plummeted 81% to 0.07mn stocks, value by 86% to QR1.9mn and deals by 56% to 50.
The market witnessed 69% shrinkage in the insurance sector’s trade volume to 0.04mn shares, value by 71% to QR2.07mn and transactions by 78% to 29.
The banks and financial services’ trade volume tanked 65% to 0.45mn equities, value by 73% to QR21.25mn and deals by 42% to 393.
The consumer goods sector reported 49% decline in trade volume to 0.21mn stocks, 74% in value to QR3.8mn and 45% in transactions to 143.
The industrials sector’s trade volume shrank 48% to 0.59mn shares, value by 48% to QR27.3mn and deals by 40% to 407.
The telecom sector saw 41% dip in trade volume to 0.4mn equities, 60% in value to QR6.92mn and 59% in transactions to 161.
In the debt market, there was no trading of treasury bills and government bonds.
