Snapping four days of bullish run, Qatar Stock Exchange on Sunday suffered heavily with its key index losing 133 points to settle below the 10,300 mark on an across-the-board selling, particularly in real estate, telecom and consumer goods stocks.
Local retail investors' bearish grip and foreign institutions’ substantially reduced buying interests led the 20-stock Qatar Index plunge 1.29% to 10,262.56 points amidst buoyancy in the global energy markets.
Micro and midcaps witnessed heavier profit booking in the market, which is down 1.6% year-to-date.
The index that tracks Shariah-principled stocks was seen dropping faster than the other indices in the bourse, where trading turnover volumes were on the decline.
However, domestic institutions turned net buyers and there was also increased buying support from their Gulf counterparts in the market, where banking, industrials and realty stocks together constituted more than 89% of the total trading volume.
Market capitalisation eroded 0.79% or more than QR4bn to QR550.75bn with micro, mid, small and large cap equities falling 0.89%, 0.83%, 0.7% and 0.47% respectively.
The Total Return Index fell 1.29% to 16,604.13 points, All Share Index by 1.05% to 2,867.25 points and Al Rayan Islamic Index by 1.72% to 4,028.7 points.
Real estate stocks tanked 2.81%, telecom (1.71%), consumer goods (1.49%), insurance (1.36%), industrials (0.82%), transport (0.51%) and banks and financial services (0.24%).
More than 76% of the stocks were in the red with major losers being Industries Qatar, Aamal Company, Ezdan, Ooredoo, Gulf International Services, Alijarah Holding, Doha Bank, Medicare Group and Gulf Warehousing; even as Mesaieed Petrochemical Holding and Dlala notably bucked the trend.
Local retail investors turned net sellers to the tune of QR17.48mn compared with net buyers of QR2.6mn last Thursday.
Non-Qatari institutions’ net buying plummeted to QR1.16mn against QR53.77mn the previous trading day.
However, domestic institutions turned net buyers to the extent of QR8.63mn compared with net sellers of QR59.05mn on April 21.
The GCC (Gulf Cooperation Council) institutions’ net buying strengthened to QR6.17mn against QR3.4mn last Thursday.
Non-Qatari individual investors’ net buying increased to QR1.78mn compared to QR1.36mn the previous trading day.
The GCC individual investors’ net profit booking declined to QR0.28mn against QR2.12mn on April 21.
Total trade volume fell 13% to 9.84mn shares, value by 29% to QR282.86mn and deals by 28% to 4,388.
The insurance sector reported 75% plunge in trade volume to 0.03mn equities, 67% in value to QR2.01mn and 76% in transactions to 29.
The transport sector’s trade volume plummeted 69% to 0.13mn stocks, value by 67% to QR5.06mn and deals by 46% to 134.
There was 60% shrinkage in the consumer goods sector’s trade volume to 0.61mn shares, 58% in value to QR34.56mn and 46% in transactions to 519.
The telecom sector’s trade volume tanked 60% to 0.31mn equities, value by 65% to QR9.06mn and deals by 54% to 376.
The banks and financial services sector witnessed its trade volume fall 5% to 3.84mn stocks, value by 19% to QR100.56mn and transactions by 20% to 1,381.
However, the market witnessed 15% surge in the industrials sector’s trade volume to 3.46mn shares but on 14% decline in value to QR100.55mn and 12% in deals to 1,340.
The real estate sector’s trade volume was up 6% to 1.47mn equities and value by 9% to Q31.06mn, while transactions were down 9% to 609.
In the debt market, there was no trading of treasury bills and government bonds.
The Qatar Index fell 1.29% to 10,262.56 points
