The Qatar Stock Exchange on Sunday opened the week on a weak note with its key index losing 59 points mainly on increased net profit-booking by domestic institutions.
Selling pressure - especially at the insurance, industrials and transport counters - led the 20-stock Qatar Index to slide 0.56% to 10,327.84 points.
Non-Qatari individual investors’ bearish outlook also led to dampened sentiments in the bourse, which is down 0.97% year-to-date.
However, there was increased buying from local retail investors and foreign institutions in the market, where trading turnover and volumes were also on the decline.
The index that tracks Shariah-principled stocks was seen declining slower than the other indices in the market, where real estate and banking stocks together accounted for about 58% of the total trading volume.
Market capitalisation was down 0.45%, or more than QR2bn, to QR542.74bn with mid and large cap equities losing 0.75% and 0.45% respectively; while small caps were up mere 0.08%. Micro cap stocks were unchanged.
The Total Return Index fell 0.56% to 16,429.43 points, the All Share Index by 0.44% to 2,797.33 points and the Al Rayan Islamic Index by 0.27% to 3,867.3 points.
Insurance stocks shrank 1.1%, followed by industrials (0.6%), transport (0.59%), banks and financial services (0.52%) and realty (0.17%); whereas telecom and consumer goods gained 0.48% and 0.11% respectively.
Major losers included Industries Qatar, QNB, Qatar Insurance, Nakilat, Doha Bank, Al Khaliji, United Development Company, Barwa and Mazaya Qatar; even as Dlala, Gulf International Services, Mesaieed Petrochemical Holding, Ooredoo, Vodafone Qatar, Ezdan and Mannai Corporation bucked the trend.
Domestic institutions’ net profit booking strengthened to QR21.46mn compared to QR9.78mn the previous trading day.
Non-Qatari individual investors turned net sellers to the tune of QR4.93mn against net buyers of QR9.48mn on March 10.
However, local retail investors’ net buying increased perceptibly to QR17.28mn compared to QR3.71mn last Thursday.
Non-Qatari institutions’ net buying also strengthened to QR14.21mn against QR6.05mn the previous trading day.
The GCC (Gulf Cooperation Council) individuals turned net buyers to the extent of QR2.04mn compared with net sellers of QR0.27mn on March 10.
The GCC institutions’ net profit-booking weakened to QR7.1mn against QR9.18mn last Thursday.
Total trade volume fell 21% to 7.4mn shares, value by 15% to QR258.3mn and deals by 21% to 3,935.
The industrials sector reported a 56% plunge in trade volume to 0.94mn equities, 51% in value to QR38.67mn and 48% in transactions to 670.
The consumer goods sector’s trade volume plummeted 29% to 0.8mn stocks, value by less than 1% to QR28.41mn and deals by 18% to 461.
The banks and financial services sector saw a 17% shrinkage in trade volume to 1.99mn shares, 11% in value to QR99.03mn and 19% in transactions to 1,374.
The real estate sector’s trade volume tanked 17% to 2.29mn equities, even as value rose less than 1% to QR62.95mn. Deals were down 8% to 817.
However, the market witnessed a 53% surge in the transport sector’s trade volume to 0.46mn stocks, 41% in value to QR13.35mn and 44% in transactions to 179.
The telecom sector’s trade volume soared 51% to 0.83mn shares, value by 27% to QR12.95mn and deals by 13% to 376.
There was a 14% expansion in the insurance sector’s trade volume to 0.08mn equities but on A 13% decline in value to QR2.94mn and 13% in transactions to 58.
In the debt market, there was no trading of treasury bills and government bonds.
There was increased buying from local retail investors and foreign institutions
