Domestic institutions turned increasingly net sellers on Monday to drive the Qatar Stock Exchange down 11 points as its key index failed to break the 10,900 resistance level.
The transport, consumer goods and banking segments dragged the 20-stock Qatar Index 0.1% to 10,839.73 points. The market is however up 3.93% year-to-date.
Nevertheless, trading turnover and volumes were on the increase – especially on account of insurance, transport and consumer goods – as banking, realty and industrials scrips together accounted for about 73% of the total volumes.
Islamic stocks were seen dropping relatively faster than the conventional ones in the market as foreign institutions’ buying support weakened.
Amidst an overall pessimism in the market, local, Gulf and non-Qatari retail investors turned net buyers and there was lesser net selling pressure from Gulf institutions.
Market capitalisation was down 0.08%, or QR49mn, to QR580.44bn as large, micro and small cap equities fell 0.16%, 0.08% and 0.04% respectively; whereas midcaps gained 0.13%.
The Total Return Index fell 0.1% to 17,537.96 points, the All Share Index by 0.07% to 2,980.14 points and the Al Rayan Islamic Index by 0.16% to 4,091.73 points.
Transport stocks shrank 0.8%, followed by consumer goods (0.29%) and banks and financial services (0.15%); while real estate gained 0.22%, followed by telecom (0.2%) and insurance (0.09%). The industrials index was unchanged.
Influential losers included Nakilat, Industries Qatar, QNB, Commercial Bank, Qatar First Bank, United Development Company, Mazaya Qatar and Vodafone Qatar; even as Qatar Electricity and Water, Gulf International Services, Mesaieed Petrochemical Holding, Barwa, Ezdan, Ooredoo, Doha Bank, Gulf Warehousing and Alijarah Holding bucked the trend.
Domestic institutions’ net profit-booking strengthened to QR68.06mn against QR44.53mn on September 4.
Non-Qatari institutions’ net buying declined to QR60.4mn compared to QR66.57mn the previous day.
However, local retail investors turned net buyers to the tune of QR5.42mn against net sellers of QR2.47mn on Sunday.
Non-Qatari individual investors were also net buyers to the extent of QR9.85mn compared with net sellers of QR1.29mn on September 4.
GCC (Gulf Cooperation Council) individual investors turned net buyers to the tune of QR3.16mn against net sellers of QR0.4mn the previous day.
GCC institutions’ net profit-booking shrank to QR10.79mn compared to QR17.88mn on Sunday.
Total trade volume rose 65% to 5.57mn shares, value by 56% to QR248.66mn and deals by 80% to 4,689.
The insurance sector’s trade volume almost tripled to 0.14mn equities and value more than doubled to QR11.17mn on more-than-doubled transactions to 167.
The transport sector’s trade volume more than doubled to 0.49mn stocks and value almost tripled to QR15.34mn on more-than-tripled deals to 381.
The market witnessed an 83% surge in the industrials sector’s trade volume to 0.99mn shares, 73% in value to QR61.38mn and 63% in transactions to 989.
The consumer goods sector’s trade volume soared 73% to 0.26mn equities and value more than tripled to QR13.98mn on more-than-doubled deals to 322.
The telecom sector reported a 73% increase in trade volume to 0.64mn stocks and 38% in value to QR22.49mn on more-than-doubled transactions to 578.
The banks and financial services sector’s trade volume expanded 60% to 2.03mn shares, value by 28% to QR100.29mn and deals by 81% to 1,582.
There was a 29% jump in the real estate sector’s trade volume to 1.02mn equities, 56% in value to QR24.02mn and 28% in transactions to 670.
In the debt market, there was no trading of treasury bills and government bonds.