Foreign institutions’ increased net selling and local retail investors’ bearish outlook on Tuesday led the Qatar Stock Exchange languish in the negative terrain for the second straight session.
Notwithstanding the strong buying support from domestic and Gulf institutions, the 20-stock Qatar Index shed 53 points or 0.54% to 9,636.4 points as investors look to Wednesday’s meeting of the Organisation of Petroleum Exporting Countries on production cut. The market’s year-to-date losses have widened to near 8%.
Banking stocks largely came under severe selling pressure on the bourse, where domestic institutions and Gulf individual investors were increasingly net buyers.
Trade turnover and volumes were on the increase in the market, where telecom and banking sectors together accounted for about 72% of the total volume.
Islamic stocks were seen dropping slower than the conventional ones in the bourse, where non-Qatari retail investors were also increasingly net buyers.
Market capitalisation eroded about QR4bn or 0.74% to QR518.6bn mainly on 1.05% slump in large cap equities, although small and midcaps gained 0.68% and 0.38% respectively.
The Total Return Index shrank 0.54% to 15,591.05 points, All Share Index by 0.53% to 2,658.09 points and Al Rayan Islamic Index by 0.19% to 3,561.87 points.
Banks and financial services saw its index plunge 1.67%, real estate (0.64%) and industrials (0.07%); whereas telecom gained 1.88%, insurance (0.89%), transport (0.8%) and consumer goods (0.74%).
Major losers included QNB, Masraf Al Rayan, Qatar First Bank, Ezdan, Barwa, Mazaya Qatar, Industries Qatar, Gulf International Services and Qatari German Company for Medical Devices.
Nevertheless, Ooredoo, Vodafone Qatar, Milaha, Qatar Insurance, Commercial Bank, Al Khaliji, Mesaieed Petrochemical Holding and Aamal Company saw their stocks appreciate modestly.
Non-Qatari institutions’ net selling increased considerably to QR55.31mn compared to QR18.99mn on Monday.
Local retail investors turned net sellers to the tune of QR7.19mn against net buyers of QR12.13mn the previous day.
However, domestic institutions’ net buying strengthened perceptibly to QR42.89mn compared to QR7.31mn on November 28.
The GCC (Gulf Cooperation Council) institutions were net buyers to the extent of QR17.15mn against net sellers of QR1.98mn on Monday.
The GCC individual investors’ net buying increased to QR0.53mn compared to QR0.29mn the previous day.
Non-Qatari individual investors’ net buying also strengthened to QR1.92mn against QR1.22mn on November 28.
Total trade volume rose 7% to 5.88mn shares, value by 28% to QR188.7mn and deals by 18% to 2,805.
The insurance sector’s trade volume grew seven-fold to 0.21mn equities and value by about 13-fold to QR16.52mn on almost quadrupled transactions to 149.
The banks and financial services sector’s trade volume more than doubled to 2.06mn stocks, value soared 76% to QR85.04mn and deals by 21% to 776.
There was 58% surge in the real estate sector’s trade volume to 0.84mn shares, 43% in value to QR14.28mn and 24% in transactions to 226.
However, the transport sector’s trade volume plummeted 51% to 0.17mn equities and value by 23% to QR7.16mn, while deals expanded 31% to 149.
The consumer goods sector reported 51% plunge in trade volume to 0.19mn stocks, 35% in value to QR18.84mn and 5% in transactions to 338.
The telecom sector’s trade volume tanked 27% to 2.16mn shares and value by 17% to QR28.74mn, whereas deals were up 5% to 801.
The market witnessed 7% decline in the industrials sector’s trade volume to 0.25mn equities but on 27% increase in value to QR18.11mn and 29% in transactions to 366.
In the debt market, there was no trading of treasury bills and government bonds.
Banking stocks largely came under severe selling pressure on the bourse, where domestic institutions and Gulf individual investors were increasingly net buyers.
Trade turnover and volumes were on the increase in the market, where telecom and banking sectors together accounted for about 72% of the total volume.
Islamic stocks were seen dropping slower than the conventional ones in the bourse, where non-Qatari retail investors were also increasingly net buyers.
Market capitalisation eroded about QR4bn or 0.74% to QR518.6bn mainly on 1.05% slump in large cap equities, although small and midcaps gained 0.68% and 0.38% respectively.
The Total Return Index shrank 0.54% to 15,591.05 points, All Share Index by 0.53% to 2,658.09 points and Al Rayan Islamic Index by 0.19% to 3,561.87 points.
Banks and financial services saw its index plunge 1.67%, real estate (0.64%) and industrials (0.07%); whereas telecom gained 1.88%, insurance (0.89%), transport (0.8%) and consumer goods (0.74%).
Major losers included QNB, Masraf Al Rayan, Qatar First Bank, Ezdan, Barwa, Mazaya Qatar, Industries Qatar, Gulf International Services and Qatari German Company for Medical Devices.
Nevertheless, Ooredoo, Vodafone Qatar, Milaha, Qatar Insurance, Commercial Bank, Al Khaliji, Mesaieed Petrochemical Holding and Aamal Company saw their stocks appreciate modestly.
Non-Qatari institutions’ net selling increased considerably to QR55.31mn compared to QR18.99mn on Monday.
Local retail investors turned net sellers to the tune of QR7.19mn against net buyers of QR12.13mn the previous day.
However, domestic institutions’ net buying strengthened perceptibly to QR42.89mn compared to QR7.31mn on November 28.
The GCC (Gulf Cooperation Council) institutions were net buyers to the extent of QR17.15mn against net sellers of QR1.98mn on Monday.
The GCC individual investors’ net buying increased to QR0.53mn compared to QR0.29mn the previous day.
Non-Qatari individual investors’ net buying also strengthened to QR1.92mn against QR1.22mn on November 28.
Total trade volume rose 7% to 5.88mn shares, value by 28% to QR188.7mn and deals by 18% to 2,805.
The insurance sector’s trade volume grew seven-fold to 0.21mn equities and value by about 13-fold to QR16.52mn on almost quadrupled transactions to 149.
The banks and financial services sector’s trade volume more than doubled to 2.06mn stocks, value soared 76% to QR85.04mn and deals by 21% to 776.
There was 58% surge in the real estate sector’s trade volume to 0.84mn shares, 43% in value to QR14.28mn and 24% in transactions to 226.
However, the transport sector’s trade volume plummeted 51% to 0.17mn equities and value by 23% to QR7.16mn, while deals expanded 31% to 149.
The consumer goods sector reported 51% plunge in trade volume to 0.19mn stocks, 35% in value to QR18.84mn and 5% in transactions to 338.
The telecom sector’s trade volume tanked 27% to 2.16mn shares and value by 17% to QR28.74mn, whereas deals were up 5% to 801.
The market witnessed 7% decline in the industrials sector’s trade volume to 0.25mn equities but on 27% increase in value to QR18.11mn and 29% in transactions to 366.
In the debt market, there was no trading of treasury bills and government bonds.
