Qatar Stock Exchange opened the week with substantial decline in trade turnover and volumes, which also saw the initial public offering of the Investment Holding Group hit the market.

The 20-stock Qatar Index otherwise gained a marginal 0.08% or mere nine points to 10,725.98 points as global oil prices last week remained range bound, apprehending adherence to the production cut by some of the oil producers.

Insurance, telecom, consumer goods and banking counters witnessed higher than average demand in the bourse, whose year-to-date gains were at 2.77%.

Local and Gulf retail investors’ profit booking weakened and non-Qatari individuals were seen bullish in the market, where banking, real estate, industrials and telecom sectors together accounted for about 93% of the total trade volumes.

Islamic stocks were seen declining vis-à-vis gains in the conventional indices in the bourse, where domestic institution turned net sellers and there was weakened buying support from Gulf and foreign institutions.

Market capitalisation was up QR69mn or 0.12% to QR576.49bn despite mid, large and small cap equities dropping 1.55%, 0.59% and 0.5% respectively, while microcaps were up 0.19%.

The Total Return Index rose 0.08% to 17,753.92 points and All Share Index by 0.1% to 2,940.36 points, while Al Rayan Islamic Index was down 0.2% to 3,977.94 points.

The insurance sector saw its index gain 0.94%, telecom (0.5%), consumer goods (0.47%) and banks and financial services (0.19%), whereas realty declined 0.37%, transport (0.21%) and industrials (0.07%).

Among the major movers were Qatar Insurance, Ooredoo, QNB, Doha Bank, Alijarah Holding, Woqod, Nakilat, Industries Qatar, Aamal Company, United Development Company and Barwa.

Nevertheless, Gulf Warehousing, Mesaieed Petrochemical Holding, Gulf International Services, Ezdan, Vodafone Qatar, Qatar Islamic Bank and Qatari Investors Group saw their stocks lose sheen.

Non-Qatari individual investors turned net buyers to the tune of QR3.53mn compared with net sellers of QR3.68mn on January 5.

Local retail investors’ net selling weakened considerably to QR23.51mn against QR90.46mn the previous trading day.

The GCC (Gulf Cooperation Council) individual investors’ net profit booking fell to QR0.42mn compared to QR4.71mn last Thursday.

However, domestic institutions turned net sellers to the extent of QR4.82mn against net buyers of QR30.67mn on January 5.

The GCC institutions’ net buying declined substantially to QR2.48mn compared to QR45.27mn the previous trading day.

Non-Qatari institutions’ net buying weakened marginally to QR22.71mn against QR22.91mn last Thursday.

Total trade volume fell 51% to 6.89mn shares, value by 56% to QR174.8mn and deals by 38% to 3,173.

There was 68% plunge in the transport sector’s trade volume to 0.11mn equities, 58% in value to QR5.56mn and 56% in transactions to 89.

The real estate sector’s trade volume plummeted 67% to 1.93mn stocks, value by 63% to QR39.93m and deals by 60% to 477.

The insurance sector reported 56% shrinkage in trade volume to 0.18mn shares, 66% in value to QR11.79mn and 54% in transactions to 134.

The consumer goods sector’s trade volume tanked 49% to 0.2mn equities, value by 56% to QR9.47mn and deals by 58% to 165.

The banks and financial services sector saw 49% decline in trade volume to 2.03mn stocks, 54% in value to QR54.23mn and 44% in transactions to 788.

The telecom sector’s trade volume shrank 30% to 1.1mn shares, value by 47% to QR14.27mn and deals by 64% to 175.

The market witnessed 8% slump in the industrials sector’s trade volume to 1.33mn equities and 48% in value to QR39.55mn but on 18% jump in transactions to 1,345.

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

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