Global oil price concerns led the Qatar Stock Exchange to witness another 136 points runoff and its key index settled below 10,800 levels as foreign institutions resorted to profit booking.
An across-the-board selling – particularly in the insurance, telecom and banking counters – dragged the 20-stock Qatar Share Index for the fourth consecutive day by 1.26% to 10,747.83 points.
Large cap equities witnessed higher selloff in the bourse, whose year-to-date gains shrank to 2.98%.
Islamic stocks were seen declining slower than the main index as well as conventional ones in the market, where domestic institutions and non-Qatar individuals, however, turned bullish.
Both local and Gulf retail investors exhibited weak selling pressure and there were also increased buying interests from Gulf institutions.
Trade turnover and volumes expanded on the bourse, where telecom, realty and banking sectors together accounted for about 89% of the total volumes.
Market capitalisation eroded about QR7bn or 1.14% to QR576.99bn as large, small and midcap cap equities lost 1.46%, 0.83% and 0.34% respectively; while microcaps were up 0.05%.
The Total Return Index declined 1.26% to 17,389.28 points, All Share Index by 1.13% to 2,948.48 points and Al Rayan Islamic Index by 0.82% to 4,022.37 points.
The insurance sector saw its index tank 2.72%, telecom (2.19%), banks and financial services (1.23%), real estate (1.06%), industrials (0.71%), transport (0.62%) and consumer goods (0.03%).
About 63% of the stocks were in the red with major losers being Qatar Insurance, Ooredoo, Nakilat, Doha Bank, QNB, Qatar Islamic Bank, QIIB, Industries Qatar, Barwa, Ezdan, Qatar Electricity and Water, Vodafone Qatar and Qatari German Company for Medical Devices; even as Gulf International Services, Mazaya Qatar, Dlala, Alijarah Holding and Medicare Group were among the gainers.
Non-Qatari institutions turned net sellers to the tune of QR28.33mn compared with net buyers of QR5.85mn on January 29.
However, domestic institutions were net buyers to the extent of QR20.69mn against net sellers of QR1.97mn the previous day.
Non-Qatari individual investors were also net buyers to the tune of QR1.69mn compared with net sellers of QR1.93mn on Sunday.
The GCC (Gulf Cooperation Council) institutions’ net buying rose to QR10.7mn against QR5.62mn on January 29.
Local retail investors’ net selling declined perceptibly to QR4.6mn compared to QR6.53mn the previous day.
The GCC retail investors’ net profit booking also weakened to QR0.16mn against QR1.02mn on Sunday.
Total trade volume rose 39% to 6.16mn shares, value by 23% to QR183.26mn and deals by 47% to 3,139.
The insurance sector’s trade volume tripled to 0.09mn equities and value more than tripled to QR7.37mn on more than doubled transactions to 154.
The telecom sector’s trade volume more than doubled to 2.21mn stocks, value soared 60% to QR28.18mn and deals by 74% to 317.
The banks and financial services sector’ saw 67% surge in trade volume to 1.44mn shares, 66% in value to QR67.39mn and 83% in transactions to 1,216.
The real estate sector’s trade volume expanded 47% to 1.81mn equities and value by 54% to QR39.43mn on more than doubled deals to 703.
However, there was 78% plunge in the transport sector’s trade volume to 0.11mn stocks, 83% in value to QR2.95mn and 26% in transactions to 124.
The consumer goods sector’s trade volume plummeted 56% to 0.15mm shares, value by 58% to QR11.79mn and deals by 43% to 194.
The industrials sector reported 36% shrinkage in trade volume to 0.36mn shares but on 50% increase in value to QR26.14mn and 6% in transactions to 431.
In the debt market, there was no trading of treasury bills and government bonds.
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