On bearish run bourse falls below 10,400 levels

Although Islamic stocks witnessed marginal gains, the 20-stock Qatar Index fell 0.32% to 10,394.74points.

The weakening of net buying interests of domestic and Gulf institutions rather instilled the bearish run in the bourse, whose year-to-date losses widened to 0.33%.

Large cap equities were on the decline in the market, where foreign institutions’ net selling however weakened and both non-Qatari and Gulf individual investors turned bullish.

Trade turnover and volumes were on the decline in the market, where real estate, telecom and banking sectors together accounted for about 80% of the total trade volumes.

Market capitalisation fell more than QR2bn or 0.46% to QR559.5bn mainly on 0.52% fall in large cap equities, even as micro, small and midcap stocks rose 0.38%, 0.31% and 0.04% respectively.

The Total Return Index shrank 0.32% to 16,817.99 points and All Share Index by 0.34% to 2,853.09 points, while Al Rayan Islamic Index was up 0.08% to 3,871.26 points.

Banks and financial services sector saw its index decline 0.93% and realty (0.33%), whereas telecom gained 0.32%, transport (0.22%), industrials (0.18%) and consumer goods (0.16%). The insurance index was almost unchanged.

Major losers included QNB, Masraf Al Rayan, Doha Bank, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Ezdan and Nakilat; even as Ooredoo, Milaha, Barwa, Qatar Islamic Bank, Mazaya Qatar, Qatari Investors Group, United Development Company, Alijarah Holding, Islamic Holding Group and Qatari German Company for Medical Devices saw their stocks make modest gains.

Domestic institutions’ net buying weakened substantially to QR0.31mn compared to QR62.41mn on December 22.

The GCC (Gulf Cooperation Council) institutions’ net buying declined to QR2.2mn against QR5.86mn the previous trading day.

However, local retail investors’ net profit booking weakened perceptibly to QR3.49mn compared to QR39.15mn last Thursday.

Non-Qatari institutions’ net selling also fell considerably to QR2.21mn against QR21.64mn on December 22.

Non-Qatari individual investors turned net buyers to the tune of QR2.46mn compared with net sellers of QR5.24mn the previous trading day.

The GCC individual investors were also net buyers to the extent of QR0.75mn against net sellers of QR2.22mn last Thursday.

Total trade volume fell 28% to 4.85mn shares, value by 52% to QR124.72mn and deals by 24% to 1,921.

There was 83% plunge in the insurance sector’s trade volume to 0.05mn equities, 90% in value to QR1.52mn and 71% in transactions to 37.

The banks and financial services sector’s trade volume plummeted 48% to 1.01mn stocks, value by 73% to QR38.59mn and deals by 31% to 645.

The telecom sector witnessed 32% shrinkage in trade volume to 1.43mn shares, 40% in value to QR14.75mn and 27% in transactions to 117.

The transport sector’s trade volume tanked 22% to 0.14mn equities; while value rose 3% to QR7.5mn. Deals shrank 45% to 65.

The consumer goods sector reported 13% decline in trade volume to 0.21mn stocks, 9% in value to QR10.94mn and 17% in transactions to 241.

The real estate sector’s trade volume was down 10% to 1.43mn shares, whereas value was up 6% to QR31.82m. Deals fell 22% to 357.

However, the market witnessed 49% surge in the industrials sector’s trade volume to 0.58mn equities but on 18% slump in value to QR19.61mn. Transactions gained 3% to 459.

In the debt market, there was no trading of treasury bills and government bonds.